Ryerson Q1 Net Profit Rises

(RTTNews) - Ryerson Holding Corporation (RYI) reported first-quarter adjusted profit per share of $4.27 compared to $0.26, prior year. Net profit was $163.6 million or $4.17 per share compared to $25.3 million or $0.66 per share, a year ago. The company said its quarterly results were bolstered by supportive global metals pricing and recovering North American demand. Revenue increased to $1.75 billion from $1.15 billion, a year ago.

Eddie Lehner, CEO, said "During the first quarter of 2022, Ryerson made the most of its opportunities illuminated by lower net debt, higher net book value of equity, a 25% increase in the quarterly dividend, significant expense leverage realizations, positive operating cash flow and record quarterly earnings per share."