Service Centers
February 10, 2022
Russel Sees Big Improvement in 2021 Sales, Earnings
Written by Tim Triplett
After the close of the market today, Canada’s Russel Metals reported net earnings of $432 million (U.S. $340 million) on annual revenues of $4.2 billion (U.S. $3.3 billion) for fiscal year 2021. That’s a big improvement from earnings of just $25 million (U.S. $20 million) on revenues of $2.7 billion (U.S. $2.1 billion) in 2020 during the worst year of the pandemic.
The steel distributor’s earnings for the fourth quarter totaled $102 million (U.S. $80 million) on sales of $671 million (U.S. $527 million), a big rebound from a small loss in the prior-year quarter.
