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Ryerson Provides Second Quarter 2020 Guidance

Steel News - Published on Wed, 15 Jul 2020

Image Source: Ryerson Steel
Leading US processor and distributor of industrial metals Ryerson Holding Corporation anticipates revenues in the range of USD 765-775 million for the second quarter of 2020 and net loss attributable to Ryerson Holding Corporation in the range of USD 26-28 million. The Company anticipates Adjusted EBITDA, excluding LIFO for the second quarter of 2020 in the range of USD 19-21 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 USD 345 million and USD 350 million as of June 30, 2020. Most importantly, Ryerson’s global workforce rate of confirmed COVID-19 cases remains low and all Ryerson employees who have tested positive have either recovered or are expected to recover from the virus. Early indications for the third quarter are seeing a continuation of the recovery initiated in the second quarter as average selling prices, gross margins, excluding LIFO and order rates are all currently trending positively.

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Posted By : Yogender Pancholi on Wed, 15 Jul 2020
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