The 2020 Mid-Year Economic Update_long

Ryerson Sales Up 7.2% in 2Q

Ryerson Inc., Chicago, IL, which recently announced it has agreed to be acquired by Platinum Equity, reported second quarter sales of $1.6 billion, a 7.2% increase from the year-ago period.
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A 17.5% rise in the average selling price per ton offset an 8.8% decline in tons shipped. From the first quarter, sales declined 2.7% on a 1.1% increase in the average selling price per ton and a 3.7% decline in tons shipped.
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Profit was up 72% year-over-year, and up 51% excluding a favorable income tax settlement.
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Ryerson reported that softer industry volume was offset by higher metals pricing, efforts to control costs, continued inventory reductions, and progress on short-term initiatives of addressing underperforming service centers, improving inventory ...

Ryerson Inc., Chicago, IL, which recently announced it has agreed to be acquired by Platinum Equity, reported second quarter sales of $1.6 billion, a 7.2% increase from the year-ago period.
&nbsp ;
A 17.5% rise in the average selling price per ton offset an 8.8% decline in tons shipped. From the first quarter, sales declined 2.7% on a 1.1% increase in the average selling price per ton and a 3.7% decline in tons shipped.
&nbsp ;
Profit was up 72% year-over-year, and up 51% excluding a favorable income tax settlement.
&nbsp ;
Ryerson reported that softer industry volume was offset by higher metals pricing, efforts to control costs, continued inventory reductions, and progress on short-term initiatives of addressing underperforming service centers, improving inventory management and completing the Integris integration.
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Ryerson expects metal prices to soften in the third quarter 2007.
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Ryerson is a distributor and processor of metals in North America, with 2006 revenues of $5.9 billion. The company services customers through a network of service centers across the U.S. and in Canada, Mexico, India, and China.

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