Ryerson Reports Third Quarter Results
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Ryerson Inc. (RYI) Tops Q3 EPS by 45c, Revenues Beat
October 28, 2020 5:14 PM EDTRyerson Inc. (NYSE: RYI) reported Q3 EPS of $0.31, $0.45 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $831.5 million versus the consensus estimate of $827.37 million.
Q3 2020 Highlights:
Successfully executing upon our dual mandate pandemic response plan to safeguard the health and safety of our employees and to preserve the liquidity and recovery capacity of the Company.Revenues increased 8 percent sequentially while operating expenses increased 1 percent sequentially.Inventory turns improved by 17.4 days, or 20 percent sequentially, and by 8.7 days or by 11 percent year-over-year.Generated $121 million in cash... More