Ryerson Holding Corp. Files Q2 2024 10-Q
Ticker: RYZ · Form: 10-Q · Filed: Jul 30, 2024 · CIK: 1481582
| Field | Detail |
|---|---|
| Company | Ryerson Holding Corp (RYZ) |
| Form Type | 10-Q |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, metals-service-center, financials
TL;DR
Ryerson Holding Corp. dropped its Q2 2024 10-Q. Check financials.
AI Summary
Ryerson Holding Corp. filed its 10-Q for the period ending June 30, 2024. The company, headquartered in Chicago, IL, operates in the metals service center industry. Key financial details and operational updates for the second quarter of 2024 are presented in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational insights for Ryerson Holding Corp., crucial for understanding the company's current standing and future outlook.
Risk Assessment
Risk Level: medium — As a metals service center, Ryerson is subject to market volatility and economic cycles impacting demand and pricing for its products.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20240730 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Ryerson Holding Corp. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 227 W. MONROE ST., 27TH FLOOR (address) — Company's business and mailing address
- CHICAGO (location) — Company's city
- IL (location) — Company's state
- 60606 (zip_code) — Company's zip code
- 312 292-5000 (phone_number) — Company's business phone number
FAQ
What is the primary business of Ryerson Holding Corp.?
Ryerson Holding Corp. is primarily involved in the wholesale of metals through service centers and offices, as indicated by its SIC code 5051.
What is the fiscal year end for Ryerson Holding Corp.?
Ryerson Holding Corp.'s fiscal year ends on December 31st.
Where is Ryerson Holding Corp. headquartered?
Ryerson Holding Corp. is headquartered at 227 W. Monroe St., 27th Floor, Chicago, IL 60606.
What is the SEC file number for Ryerson Holding Corp.?
The SEC file number for Ryerson Holding Corp. is 001-34735.
For which period is this 10-Q filing?
This 10-Q filing is for the period ending June 30, 2024.
Filing Stats: 4,506 words · 18 min read · ~15 pages · Grade level 8.4 · Accepted 2024-07-30 16:24:27
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value, 100,000,000 shares authorize
Filing Documents
- ryi-20240630.htm (10-Q) — 2317KB
- ryi-ex10_1.htm (EX-10.1) — 2341KB
- ryi-ex31_1.htm (EX-31.1) — 14KB
- ryi-ex31_2.htm (EX-31.2) — 14KB
- ryi-ex32_1.htm (EX-32.1) — 5KB
- ryi-ex32_2.htm (EX-32.2) — 6KB
- img214344270_0.jpg (GRAPHIC) — 151KB
- img214344270_1.jpg (GRAPHIC) — 153KB
- 0000950170-24-087880.txt ( ) — 14129KB
- ryi-20240630.xsd (EX-101.SCH) — 1444KB
- ryi-20240630_htm.xml (XML) — 2330KB
Financial Information
Part I. Financial Information: Item 1.
Financial Statements
Financial Statements: Condensed Consolidated Statements of Comprehensive Income (Unaudited)—Three and Six Months Ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows (Unaudited)—Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets—June 30, 2024 (Unaudited) and December 31, 2023 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 31
Other Information
Part II. Other Information: Item 1.
Legal Proceedings
Legal Proceedings 32 Item 1A.
Risk Factors
Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33 Signature 34 2
FINANC IAL INFORMATION
PART I. FINANC IAL INFORMATION
Financ ial Statements
Item 1. Financ ial Statements RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Condensed Consolidated Statements o f Comprehensive Income (Unaudited) (In millions, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net sales $ 1,225.5 $ 1,343.5 $ 2,464.7 $ 2,749.6 Cost of materials sold 1,002.0 1,082.6 2,023.6 2,224.5 Gross profit 223.5 260.9 441.1 525.1 Warehousing, delivery, selling, general, and administrative 199.0 202.6 415.8 396.8 Restructuring and other charges 1.7 — 1.7 — Operating profit 22.8 58.3 23.6 128.3 Other income and (expense), net 1.8 ( 0.3 ) 1.6 ( 0.4 ) Interest and other expense on debt ( 11.3 ) ( 8.3 ) ( 21.4 ) ( 15.9 ) Income before income taxes 13.3 49.7 3.8 112.0 Provision for income taxes 3.0 12.1 0.9 26.9 Net income 10.3 37.6 2.9 85.1 Less: Net income attributable to noncontrolling interest 0.4 — 0.6 0.2 Net income attributable to Ryerson Holding Corporation $ 9.9 $ 37.6 $ 2.3 $ 84.9 Comprehensive income (loss) $ 6.2 $ 39.0 $ ( 3.5 ) $ 87.2 Less: Comprehensive income attributable to noncontrolling interest 0.4 0.1 0.5 0.2 Comprehensive income (loss) attributable to Ryerson Holding Corporation $ 5.8 $ 38.9 $ ( 4.0 ) $ 87.0 Basic earnings per share $ 0.29 $ 1.07 $ 0.07 $ 2.38 Diluted earnings per share $ 0.29 $ 1.06 $ 0.07 $ 2.33 Dividends declared per share $ 0.1875 $ 0.1800 $ 0.3750 $ 0.3500 See Notes to Condensed Consolidated Financial Statements. 3 RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES Condensed Consolidated Stateme nts of Cash Flows (Unaudited) (In millions) Six Months Ended June 30, 2024 2023 Operating activities: Net income $ 2.9 $ 85.1 Adjustments to reconcile