Distributors/Service Centers
April 23, 2025
Written by Stephanie Ritenbaugh
| First quarter ended March 31 | 2025 | 2024 | % Change |
|---|---|---|---|
| Net sales | $3,484.7 | $3,644.8 | -4.4% |
| Net earnings (loss) | $199.7 | $302.9 | -34.1% |
| Per diluted share | $3.74 | $5.23 | -28.5% |
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members. After logging in, look under the Data tab for Market Reports, and there you will find the Flat-Rolled Survey Results section. Previous survey results are also available on that page. If you need help accessing these results, or if your company would like to have your voice heard in our future surveys, contact smu@crugroup.com.
Ryerson Holding’s third-quarter sales and net income rose as shipments outperformed the company’s seasonal expectations. Management pointed to demand from data centers and power generation projects, gains in transactional business, and improving contract volumes, while describing demand across end markets as uneven. Chicago-based Ryerson’s latest earnings report released on Thursday shows third-quarter sales rose 8.6% sequentially to $2.18 billion. Shipments rose 1.2% despite the company's guidance for a seasonal decline. Net income attributable to Ryerson was $32 million, compared with $15.5 million in the second quarter. Compared with last year, sales were 87.5% higher and net income rose 316.2%.
Worthington Steel said it did not receive sufficient approval from shareholders of German service center Kloeckner & Co. for a proposed domination and profit and loss transfer agreement (DPLTA). Under German law, a DPLTA gives a parent company the right to issue binding instructions to the management of a subsidiary. Kloeckner held an extraordinary general meeting on Friday, Oct. 23, in Dusseldorf, during which a shareholder vote on the DPLTA took place. At least 75% of the capital represented at the meeting had to vote in favor of the DPLTA for the measure to pass.
Reliance Inc. is keeping a close eye on inventory as extended lead times, elevated prices, and tight material availability complicate purchasing decisions. Executives at the Phoenix-based service center said on Thursday's third-quarter earnings call that inventory levels were appropriate. The company is reducing excess inventory and focusing on inventory turns. Chief Financial Officer Arthur Ajemyan said inventory turns improved 10% year over year.
Reliance Inc. posted a third-quarter profit more than double that of a year ago on record quarterly sales. The stellar result came thanks to higher steel prices and a jump in tons sold. A government contract for the US border wall with Mexico drove a significant portion of those gains, the company said. And the Phoenix-based service center chain, North America’s largest, predicted that profits would continue to surge in the fourth quarter despite concerns about steel availability and geopolitical instability.