Service Centers
November 4, 2021
‘Demand Deferred, Not Denied’ Leads to Solid Q3 at Ryerson
Written by Tim Triplett
The management team at Ryerson reported solid third-quarter results on Thursday and expressed optimism about underlying demand in the fourth quarter and into next year. “The pricing environment is still healthy and strong underpinned by good demand – demand deferred, not denied – and we see that continuing into 2022,” Ryerson President and CEO Eddie Lehner told analysts and investors.
The service center giant’s third-quarter revenues totaled $1.6 billion, up 11% from the prior quarter, with average selling prices 19.6% higher but tons shipped 7.2% lower. Net income attributable to Ryerson Holding Corp. was $50 million, down from $113 million in the previous quarter.
