Ryerson Sees Q2 Revenues Above View

(RTTNews) - Ryerson Holding Corp. (RYI), a value-added processor and distributor of industrial metals, said it expects net loss attributable to the company to be in the range of $26 million to $28 million; and revenues of $765 million to $775 million for the second quarter of 2020. Analysts polled by Thomson Reuters expect the company to report revenues of $761.4 million for the second-quarter. Analysts' estimates typically exclude special items.

The company anticipates Adjusted EBITDA, excluding LIFO for the second quarter of 2020 in the range of $19 million to $21 million.

The company responded to the COVID-19 pandemic and ensuing economic shutdown early and effectively, as total global liquidity is expected to range between $345 million and $350 million as of June 30, 2020, Ryerson said.