Ryerson Holding Corp. Files 2023 Annual Report (10-K)

TL;DR

<b>Ryerson Holding Corp. has filed its 2023 10-K annual report detailing its financial performance and business operations.</b>

AI Summary

Ryerson Holding Corp (RYZ) filed a Annual Report (10-K) with the SEC on February 21, 2024. Ryerson Holding Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The company is classified under SIC code 5051: Wholesale - Metals Service Centers & Offices. Ryerson Holding Corp. is incorporated in Delaware. The filing includes financial data for the fiscal years 2023, 2022, and 2021. Key financial metrics and disclosures related to assets, liabilities, revenue, and expenses are provided.

Why It Matters

For investors and stakeholders tracking Ryerson Holding Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Ryerson's financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed financial statements and risk factors within the report offer insights into the company's market position, revenue streams, and potential challenges in the metals service center industry.

Risk Assessment

Risk Level: — Ryerson Holding Corp shows moderate risk based on this filing. The company operates in the metals service center industry, which is subject to cyclical demand and price volatility, as indicated by the broad range of financial data presented across multiple fiscal years.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Ryerson's performance drivers and potential headwinds in the metals market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Ryerson Holding Corp.)
• 2024-02-21 — Filed As Of Date (Ryerson Holding Corp.)
• 5051 — SIC Code (Wholesale-Metals Service Centers & Offices)
• DE — State of Incorporation (Ryerson Holding Corp.)
• 2023 — Fiscal Year (Financial Data Period)
• 2022 — Fiscal Year (Financial Data Period)
• 2021 — Fiscal Year (Financial Data Period)

Key Players & Entities

• Ryerson Holding Corp (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 2024-02-21 (date) — Filed As Of Date
• DE (jurisdiction) — State of Incorporation
• 5051 (sic_code) — Standard Industrial Classification
• 312 292-5000 (phone) — Business Phone
• 2023 (date) — Fiscal Year
• 2022 (date) — Fiscal Year

FAQ

Industry Context

Ryerson Holding Corp. operates in the metals service centers and offices industry, which involves processing and distributing various metal products.

Regulatory Implications

The filing is a 10-K, an annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Review Ryerson's 2023 revenue and net income figures.
2. Analyze the company's debt-to-equity ratio and cash position.
3. Examine the identified risk factors for potential operational and market challenges.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K filing.
• 2024-02-21: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This 10-K filing covers the fiscal year ending December 31, 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value, 100,000,000 shares authorize
• $358.1 million — argin. We had capital expenditures of $358.1 million in the five-year period ended December
• $466.4 million — of our consolidated 2023 net sales, or $466.4 million. See Note 13 — "Segment information" of

Filing Documents

• ryi-20231231.htm (10-K) — 4643KB
• ryi-ex4_4.htm (EX-4.4) — 27KB
• ryi-ex10_10.htm (EX-10.10) — 7KB
• ryi-ex10_22.htm (EX-10.22) — 14KB
• ryi-ex19_1.htm (EX-19.1) — 58KB
• ryi-ex21_1.htm (EX-21.1) — 8KB
• ryi-ex23_1.htm (EX-23.1) — 6KB
• ryi-ex31_1.htm (EX-31.1) — 15KB
• ryi-ex31_2.htm (EX-31.2) — 16KB
• ryi-ex32_1.htm (EX-32.1) — 8KB
• ryi-ex32_2.htm (EX-32.2) — 8KB
• ryi-ex97_1.htm (EX-97.1) — 54KB
• img213446697_0.jpg (GRAPHIC) — 140KB
• img213446697_1.jpg (GRAPHIC) — 141KB
• img213446697_2.jpg (GRAPHIC) — 139KB
• img213446697_3.jpg (GRAPHIC) — 139KB
• img213446697_4.jpg (GRAPHIC) — 529KB
• img213446697_5.jpg (GRAPHIC) — 140KB
• img213446697_6.jpg (GRAPHIC) — 141KB
• 0000950170-24-018005.txt (&nbsp;) — 24163KB
• ryi-20231231.xsd (EX-101.SCH) — 2792KB
• ryi-20231231_htm.xml (XML) — 4579KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 22 Item 1C. Cybersecurity 23 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 26 Item 4. Mine Safety Disclosures 26 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 27 Item 6. Reserved 29 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 45 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 46 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 89 Item 9A.

Controls and Procedures

Controls and Procedures 89 Item 9B. Other Information 89 PART III Item 10. Directors, Executive Officers, and Corporate Governance 90 Item 11.

Executive Compensation

Executive Compensation 90 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 90 Item 13. Certain Relationships and Related Transactions, and Director Independence 91 Item 14. Principal Accounting Fees and Services 91 PART IV Item 15. Exhibits and Financial Statement Schedules 92

Signatures

Signatures 96 2 SPECIAL NOTE REGARDING FO RWARD-LOOKING STATEMENTS This Annual Report contains "forward-looking statements." Such statements can be identified by the use of forward-looking terminology such as "objectives," "goals," "preliminary," "range," "believes," "expects," "may," "estimates," "will," "should," "plans" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those anticipated or implied in the forward-looking statements as a result of various factors. Among the factors that significantly impact the metals distribution industry and our business are: highly cyclical fluctuations resulting from, among others, seasonality, market uncertainty, and costs of goods sold; remaining competitive and maintaining market share in the highly competitive and fragmented metals distribution industry; managing the costs of purchased metals relative to the price at which we sell our products during periods of rapid price escalation or deflation; the management of inventory and other costs and expenses; customer, supplier, and competitor consolidation, bankruptcy, or insolvency; the impairment of goodwill that could result from, among other things, volatility in the markets in which we operate; the impact of geopolitical events; future funding for postretirement employee benefits may require substantial payments from current cash flow; the failure to effectively integrate newly acquired operations; the regulatory and other operational risks associated with our operations located outside of the United States ("U.S."); the ability of management to focus on North American and foreign operations; currency fluctuations in the U.S. dollar versus the Canadian dollar, the

B USINESS

ITEM 1. B USINESS. Ryerson Holding Corporation ("Ryerson Holding"), a Delaware corporation, is the parent company of Joseph T. Ryerson & Son, Inc. ("JT Ryerson"), a Delaware corporation. Affiliates of Platinum Equity, LLC ("Platinum") own approximately 3,924,478 shares of our common stock, which is approximately 11.5% of our issued and outstanding common stock. We are a leading value-added processor and distributor of industrial metals with operations in the United States ("U.S.") through JT Ryerson and other U.S. subsidiaries, in Canada through our indirect wholly-owned subsidiary Ryerson Canada, Inc., a Canadian corporation ("Ryerson Canada"), and in Mexico through our indirect wholly-owned subsidiary Ryerson Metals de Mexico, S. de R.L. de C.V., a Mexican corporation ("Ryerson Mexico"). In addition to our North American operations, we conduct metal processing and distribution operations in China through an indirect wholly-owned subsidiary, Ryerson China Limited, a Chinese limited liability company ("Ryerson China"). Unless the context indicates otherwise, Ryerson Holding, JT Ryerson, Ryerson Canada, Ryerson Mexico, and Ryerson China together with their subsidiaries, are collectively referred to herein as "Ryerson," "we," "us," "our," or the "Company." Our Company We are one of the largest value-add processors and distributors of industrial metals in North America measured in terms of sales. We have approximately 4,600 employees across 110 facilities in North America and four facilities in China. Through this network we serve approximately 40,000 customers across a wide range of manufacturing end-markets. Our customers range from local, independently owned fabricators and machine shops to large, international original equipment manufacturers. We carry a full line of approximately 75,000 products in stainless steel, aluminum, carbon steel, and alloy steels and a limited line of nickel and red metals in various shapes and forms. In addition to our metals pro

View Full Filing

View this 10-K filing on SEC EDGAR