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Ryerson Reports Second Quarter 2021 Results

Ryerson Reports Second Quarter 2021 Results
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Ryerson Reports Second Quarter 2021 Results

Ryerson Reports Second Quarter 2021 Results
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.

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Ryerson Reports First Quarter 2021 Results

Ryerson Reports First Quarter 2021 Results
Strong asset management and expense leverage yield exceptional results which illuminate balance sheet achievements
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CHICAGO, May 5, 2021 /PRNewswire/
Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results for the first quarter ended March 31, 2021.
Q1 2021 Highlights:
Generated first quarter revenues of $1.15 billion, 13.6% higher than the year-ago period, driven by strong pricing and recovering metals demand. While gross margin contracted sequentially to 17.2% given transient LIFO accounting impacts, gross margin, excluding LIFO expanded during the quarter to 24.6%, an increase of 530 bps sequentially.
Exhibited exceptional working capital management, achieving a cash conversion cycle of 53 days, compared to 77 days for the first quarter of 2020. ....

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Ryerson Reports Fourth Quarter and Full-Year 2020 Results

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CHICAGO, Feb. 24, 2021 /PRNewswire/
Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results for the fourth quarter and full-year ended December 31, 2020.
Q4 2020 Highlights:
Continued successfully executing upon our dual mandate pandemic response plan to safeguard the health and safety of our employees and to improve the liquidity and recovery capacity of the Company.
Redeemed $50 million in outstanding Senior Secured Notes due 2028 and ended the year with net debt of $679 million, a decrease of $244 million compared to 2019 enabled by strong cash flow generation from operations of $278 million.
Fourth quarter revenues increased by 2.6% sequentially driven by the robust metals pricing environment and recovering demand fundamentals. Gross margin contracted quarter-over-quarter to 18.0% due to lagging contract business price resets, whereas gross margin, exc ....

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