Steel Mills
November 1, 2020
Ryerson CEO: Uneven and Unusual Recovery Ahead
Written by Sandy Williams
Ryerson Holding Corp. reported incremental improvement in third-quarter 2020. Ryerson’s Q3 revenue increased 7.7 percent to $832 million, but the service center company posted a net loss of $39.9 million, which included a $52 million charge related to pension liabilities and 17.1 million in expenses related to the refinance of 2022 notes. Adjusted net income was $11.9 million.
Ryerson’s shipments rose by 5.8 percent and the average selling price by 1.7 percent. Carbon steel shipments jumped 4.4. percent to 377,000 tons.
