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Dec 31, 2024
Ryerson Q4 2024 Earnings Report
Ryerson reported its fourth quarter and full-year 2024 financial results, with revenue of $1.01 billion and a net loss of $4.3 million for the quarter.
Key Takeaways
Ryerson Holding Corporation reported a fourth-quarter 2024 revenue of $1.01 billion, a decrease of 10.6% sequentially and 9.4% year-over-year. The company incurred a net loss of $4.3 million, or $0.13 per diluted share, and generated $92.2 million in operating cash flow. For the full year 2024, revenue was $4.6 billion with a net loss of $8.6 million.
Fourth quarter revenue was $1.01 billion on 447,000 tons shipped, with an average selling price of $2,254 per ton.
Net loss attributable to Ryerson Holding Corporation was $4.3 million, or $0.13 per diluted share, with Adjusted EBITDA, excluding LIFO, at $10.3 million.
Generated $92.2 million in operating cash flow and $68.9 million in free cash flow for the fourth quarter, contributing to full-year operating cash flow of $204.9 million and free cash flow of $107.4 million.
Ended the quarter with total debt of $468 million and net debt of $440 million, a sequential decrease from the prior quarter.
Revenue by Segment
Forward Guidance
For the first quarter of 2025, Ryerson expects customer shipments to increase 11% to 13% quarter-over-quarter, with net sales projected to be in the range of $1.12 billion to $1.15 billion. Average selling prices are expected to increase 0% to 2%. Adjusted EBITDA, excluding LIFO, is anticipated to be between $28 million and $32 million, with a diluted loss per share in the range of $0.27 to $0.20.
Positive Outlook
- Customer shipments are expected to increase 11% to 13% quarter-over-quarter due to seasonality, improved company-driven transactional activity, and restocking.
- Net sales are projected to be in the range of $1.12 billion to $1.15 billion.
- Average selling prices are expected to increase 0% to 2%.
- Adjusted EBITDA, excluding LIFO, is anticipated to be between $28 million and $32 million.
- Quoting and order trends have improved notably since mid-January.
Challenges Ahead
- LIFO expense in the first quarter of 2025 is expected to be between $6 million to $8 million.
- Diluted loss per share is projected to be in the range of $0.27 to $0.20.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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