Ryerson Holding Corp

NYSE:RYIUnited States

Apr 30, 2024

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• -- Earnings Flash (RYI) RYERSON HOLDING CORPORATION Reports Q1 Revenue $1.24B, vs. Street Est of $1.22B, from 5:03PM ET on Tuesday Apr 30, 2024 by MT Newswires

  5:03PM ET on Tuesday Apr 30, 2024 by MT Newswires
  Companies Mentioned: RYI
  05:03 PM EDT, 04/30/2024 (MT Newswires) -- ...

• Ryerson Reports First Quarter 2024 Results, from 5:00PM ET on Tuesday Apr 30, 2024 by PR Newswire

  5:00PM ET on Tuesday Apr 30, 2024 by PR Newswire
  Companies Mentioned: RYI

  Quarterly business highlights include start-up of operations at University Park, IL service center, completion of ERP integration of 17 service centers, and continued investment in organic growth initiatives, including the expansion and modernization of the Shelbyville, KY service center

• Ryerson Reports First Quarter 2024 Results, from 5:00PM ET on Tuesday Apr 30, 2024 by Dow Jones

  5:00PM ET on Tuesday Apr 30, 2024 by Dow Jones
  Companies Mentioned: RYI
  expense (income), which is calculated as gross profit minus LIFO expense (income), divided by net sales. We have excluded LIFO expense (income) from gross margin and Adjusted EBITDA as a percentage of net sales metrics in order to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories as we do. Our definitions of EBITDA, Adjusted EBITDA, Adjusted EBITDA, excluding LIFO expense (income), gross margin, excluding LIFO expense (income), and Adjusted EBITDA, excluding LIFO expense (income), as a percentage of sales may differ from that of other companies. Schedule 3 RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Reconciliation of Net Income (Loss) and Earnings (Loss) per Share to Adjusted Net Income (Loss) and Adjusted Earnings (Loss) per Share (Dollars and Shares in Millions, Except Per Share Data) Fourth First Quarter Quarter ----------------- --------- 2024 2023 2023 ---------- ----- --------- Net income (loss) attributable to Ryerson Holding Corporation $ (7.6) $47.3 $ 25.8 Pension settlement loss 2.2 -- -- Benefit plan curtailment gain (0.3) -- (0.8) Provision (benefit) for income taxes (0.5) -- 0.2 ------ ---- ----- Adjusted net income (loss) attributable to Ryerson Holding Corporation $ (6.2) $47.3 $ 25.2 ====== ==== ===== Adjusted diluted earnings (loss) per share $ (0.18) $1.27 $ 0.73 ====== ==== ===== Shares outstanding - diluted 34.0 37.2 34.7 ====== ==== ===== Note: Adjusted net income (loss) and Adjusted earnings (loss) per share is presented to provide a means of comparison with periods that do not include similar adjustments. Schedule 4 RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Cash Flow from Operations to Free Cash Flow Yield (Dollars in Millions) Fourth First Quarter Quarter ---------------------- -------- 2024 2023 2023 -------- -------- -------- Net cash provided by (used in) operating activities $ (47.8) $ 80.4 $ 90.1 Capital expenditures (21.8) (27.8) (25.4) Proceeds from sales of property, plant, and equipment 1.4 -- 0.4 ------- ------- ------- Free cash flow $ (68.2) $ 52.6 $ 65.1 ======= ======= ======= Market capitalization $1,150.1 $1,301.3 $1,180.4 Free cash flow yield (5.9)% 4.0% 5.5% ======= ======= ======= Note: Market capitalization is calculated using March 31, 2024, December 31, 2023, and March 31, 2023 stock prices and shares outstanding. Schedule 5 RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Reconciliation of Second Quarter 2024 Net Income Attributable to Ryerson Holding Corporation to Adj. EBITDA, excl. LIFO Guidance (Dollars in Millions, except Per Share Data) Second Quarter 2024 ------------------------- Low High ------------ ----------- Net income attributable to Ryerson Holding Corporation $ 5 $ 10 Diluted earnings per share $ 0.15 $ 0.25 Interest and other expense on debt 11 11 Provision for income taxes 2 3 Depreciation and amortization expense 18 18 -------- ------- EBITDA $ 36 $ 42 Adjustments 10 10 -------- ------- Adjusted EBITDA $ 46 $ 52 ======== ======= LIFO expense 1 1 -------- ------- Adjusted EBITDA, excluding LIFO $ 47 $ 53 ======== ======= Note: See the note within Schedule 2 for a description of EBITDA and Adjusted EBITDA.