NYSE$RYZ
Ryerson Holding Corporation · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Ryerson reported results with revenue increase and adjusted loss per share.
Ryerson reported a revenue increase of 2.6% sequentially, driven by robust metals pricing and recovering demand. However, the company experienced a net loss of $16.7 million, or $0.44 per diluted share, and an adjusted net loss of $6.6 million, or $0.17 per diluted share.
- Successfully executed pandemic response plan.
- Redeemed $50 million in Senior Secured Notes, reducing net debt to $679 million.
- Gross margin excl. LIFO expanded to 19.3%, up 260 bps quarter-over-quarter.
- Cash conversion cycle decreased to 62 days.
Headline financials
Revenue & EPS history
Ryerson · Revenue · Quarterly
$853M
Revenue by segment
Ryerson · $839M total across 3 segments · Q4 2020
- Carbon Steel$429M-12.8%51.1%
- Stainless Steel$216M-10.7%25.7%
- Aluminum$194M-8.9%23.1%
Forward guidance
Ryerson anticipates first quarter 2021 revenues of $1.08 billion to $1.10 billion driven by sequential average selling prices growth of 13 to 15 percent and shipment growth of 11 to 13 percent. LIFO expense in the first quarter is expected to be in the range of $49 to $53 million as replacement costs continue to increase relative to average inventory costs. Given these expectations, Adjusted EBITDA, excluding LIFO is expected to be in the range of $102 to $106 million and earnings per diluted share are expected to be in the range of $0.81 to $0.92.
Tailwinds
- Improving demand amidst recovery expectations
- Intensifying tightness in the supply environment
- Notable price appreciation across all three of Ryerson’s primary commodity bellwethers
- First quarter 2021 revenues of $1.08 billion to $1.10 billion
- Sequential average selling prices growth of 13 to 15 percent
Headwinds
- Pandemic driven uncertainties persist
- LIFO expense in the first quarter is expected to be in the range of $49 to $53 million
- Replacement costs continue to increase relative to average inventory costs
- Adjustments of (21) to (19)
- Net income attributable to Ryerson Holding Corporation $31 to $35
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
-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 |
|---|---|---|---|---|
| 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 | — | — | — | |
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| Q4 2012 | — | — | — | |
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| Q2 2012 | — | — | — | |
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| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
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| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
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