NYSE$RYZ
Ryerson Holding Corporation · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Ryerson's Q1 2024 results reflected lower earnings per share and adjusted EBITDA due to counter-cyclical industry conditions and transitory operating expenses, but revenue met guidance expectations.
Ryerson reported revenue of $1.24 billion, meeting guidance, but experienced a net loss of $7.6 million. The company is initiating $40 million in annualized cost reductions to improve profitability.
- Revenue reached $1.24 billion with 497,000 tons shipped at an average selling price of $2,493 per ton.
- Net loss attributable to Ryerson Holding Corporation was $7.6 million, with Adjusted EBITDA excluding LIFO at $40.2 million.
- Debt stood at $497 million and net debt at $455 million as of March 31, 2024.
- Operations commenced at the University Park, IL service center and the ERP conversion and integration program was completed.
Headline financials
Revenue & EPS history
Ryerson · Revenue · Quarterly
$1.24B
Revenue by segment
Ryerson · $1.22B total across 3 segments · Q3 2023
- Carbon Steel$647M—52.9%
- Stainless Steel$304M—24.8%
- Aluminum$273M—22.3%
Forward guidance
For the second quarter of 2024, Ryerson anticipates customer shipments to increase by 1% to 3% quarter-over-quarter. Net sales are expected to be between $1.25 billion and $1.29 billion, with average selling prices increasing 0% to 1%. Adjusted EBITDA, excluding LIFO, is projected to be in the range of $47 million to $53 million, and earnings per diluted share are expected to be between $0.15 and $0.25.
Tailwinds
- Customer shipments expected to increase 1% to 3%.
- Net sales anticipated between $1.25 billion and $1.29 billion.
- Average selling prices expected to increase 0% to 1%.
- LIFO expense expected to be $1 million.
- Adjusted EBITDA, excluding LIFO, projected between $47 million and $53 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-1.6%
Avg return
Earnings day
-3.0%
Avg return
5 days after
+2.3%
Avg return
30 days after
40%
19 / 47 earnings
Positive
+35.2%
Q1 2015
Best reaction
-26.6%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | +3.5% | -15.3% | -4.0% | |
| Q4 2025 | +17.5% | -6.7% | -20.7% | |
| Q3 2025 | -6.6% | -11.2% | -2.8% | |
| Q1 2025 | -14.8% | -9.6% | -11.2% | |
| Q4 2024 | +5.9% | +12.7% | -0.3% | |
| Q3 2024 | -2.7% | -5.0% | +12.7% | |
| Q2 2024 | -5.9% | -19.4% | -21.2% | |
| Q1 2024 | -19.4% | -25.7% | -24.8% | |
| Q4 2023 | -6.2% | +1.4% | +11.0% | |
| Q3 2023 | +6.6% | +6.3% | +11.9% | |
| Q2 2023 | -15.0% | -28.1% | -27.4% | |
| Q1 2023 | +1.9% | -8.7% | -10.0% | |
| Q4 2022 | -3.9% | -8.5% | -10.9% | |
| Q3 2022 | -26.6% | -21.4% | -8.7% | |
| Q2 2022 | -1.2% | -1.8% | +5.6% | |
| Q1 2022 | -11.6% | -14.7% | -19.4% | |
| Q4 2021 | -8.1% | +7.5% | +57.8% | |
| Q3 2021 | +1.8% | +9.6% | -9.8% | |
| Q2 2021 | +18.6% | +24.9% | +55.6% | |
| Q1 2021 | +3.9% | +2.3% | +0.8% | |
| Q4 2020 | -15.0% | -11.7% | +13.0% | |
| Q3 2020 | +12.1% | +13.9% | +56.8% | |
| Q2 2020 | +2.4% | -1.4% | -2.6% | |
| Q1 2020 | +2.5% | +1.8% | +45.8% | |
| Q4 2019 | +7.9% | -6.8% | -50.3% | |
| Q3 2019 | -3.8% | +1.6% | +20.1% | |
| Q2 2019 | -7.4% | -9.7% | -8.3% | |
| Q1 2019 | +13.3% | +25.0% | -10.8% | |
| Q4 2018 | -7.0% | +1.7% | +12.7% | |
| Q3 2018 | -6.4% | +1.1% | -10.8% | |
| Q2 2018 | -6.9% | +0.0% | -10.0% | |
| Q1 2018 | +11.7% | +17.9% | +29.6% | |
| Q4 2017 | -8.8% | -3.4% | -18.6% | |
| Q3 2017 | -0.6% | -0.6% | +2.8% | |
| Q2 2017 | -0.6% | -4.1% | +0.6% | |
| Q1 2017 | -20.9% | -25.5% | -34.2% | |
| Q4 2016 | +8.9% | +24.1% | +31.9% | |
| Q3 2016 | -14.9% | -9.5% | +46.8% | |
| Q2 2016 | -10.7% | -20.2% | -10.8% | |
| Q1 2016 | +8.4% | — | — | |
| Q4 2015 | -5.5% | — | — | |
| Q3 2015 | -5.4% | — | — | |
| Q2 2015 | +12.6% | — | — | |
| Q1 2015 | +35.2% | — | — | |
| Q4 2014 | +3.0% | — | — | |
| Q3 2014 | -16.9% | — | — | |
| Q4 2013 | -0.4% | — | — | |
| Q1 2014 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
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