Steel Mills
Ryerson Guidance Indicates Strong Q3
Written by Sandy Williams
September 28, 2018
Ryerson Holding Corp., a processor and distributor of industrial metals, gave upbeat guidance for third-quarter results. The company expects revenue to increase in the third quarter in the range of $1.23 billion to $1.24 billion compared to $1.057 billion in the second quarter and $864 million in third-quarter 2017. Net income is anticipated to be in the range of $77 million to $80 million.
Average selling prices were higher in the third quarter, but shipments were down slightly due to extreme weather events in Iowa and the Carolinas and normal seasonality. Ryerson continues to see strong end-market demand. Shipments are expected to remain robust due to increased industrial production and lower imports resulting from trade actions.
Ryerson is a leading value-added processor and distributor of industrial metals headquartered in Chicago with operations in the United States, Canada, Mexico and China. Founded in 1842, Ryerson employs around 4,600 employees in approximately 100 locations.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Op-Ed: Ternium CEO Máximo Vedoya wants a fair future forged in steel
After recently receiving an industry honor on behalf of Ternium, I had the opportunity to reflect and share my vision on the state and future of our industry.
Nippon eyeing new $4B U.S. Steel mill to sweeten deal: Report
Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.
Nucor cuts CSP by $20/ton, third straight drop
Nucor has lowered its consumer spot price by $20 per short ton, marking the third consecutive weekly decrease.
Nucor reports IT systems breach
Nucor said it temporarily and proactively halted some production operations at various locations.
Cliffs talks DOE funding, blast furnace relining schedule
The future of two projects supported in part by funding through the Department of Energy remains uncertain.