Ryerson Holding $RYI stock continued its slow grind higher on July 25, 2022.
Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries, including oil and gas, industrial equipment, transportation equipment, heavy equipment, and electrical machinery. It operates primarily in the United States, Mexico, Canada, China, and Brazil. Ryerson Holding Corporation is headquartered in Chicago.
Ryerson shows strong revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... growth. Over the last five years, revenue has been growing by 14.69% yearly. However, the revenue growth is slowing down: in the next five years, the growth is forecast to be around 12%.
Measured over the past five years, $RYI shows strong growth in Earnings Per Share. The EPS has been growing by 53.57% on average per year.
Ryerson Holds Groundbreaking Ceremony for New Central Steel & Wire Facility
On June 6, 2022, Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, held a groundbreaking ceremony on June 1 for its new 900,000-square-foot state-of-the-art facility – a service center facility and headquarters for its wholly-owned subsidiary, Central Steel & Wire (“CS&W”). Located in University Park, IL (a southern suburb of Chicago), the new facility will provide over 300 jobs and will feature expanded bar and tube processing equipment. The facility is expected to be operational by the middle of 2023.
“We have been creating and providing family wage jobs for a combined 293 years as Ryerson was founded in Chicago in 1842 and CS&W was founded in Chicago in 1909. How many things do you know that have lasted that long?” asked Eddie Lehner, Ryerson President & CEO, in a speech delivered at the ceremony. “It speaks to the durability, resiliency, and potential that brings us all here today. Our mission, passion, and purpose are to provide great experiences for our customers, employees, shareholders, suppliers, and communities. Great experiences never go out of style, and we need them now more than ever.”
Jack Barger added, “On behalf of our more than 500 team members at CSW, we are thrilled to become part of the University Park community and relocate our main facility to Will County. Thank you to all of the elected officials and team members for your support and efforts.”
Ryerson Acquires Ford Tool Steel
On June 1, 2022, Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced its acquisition of Ford Tool Steels (“FTS”), a tool steel processor based out of St. Louis, Missouri.
FTS has been in business for over 75 years, serving customers across the Midwest United States with tool steel and alloys and cut-to-length sawing, plate sawing, and grinding and milling services. FTS’s sawing and machining capabilities are aligned with those of Southern Tool Steel, a member of the Ryerson Family of Companies acquired in 2015. This strategic acquisition presents an opportunity to recognize synergies between the two brands as Ryerson expands its tool steel franchise.
“The FTS commitment to quality and service is well aligned with Ryerson’s focus on providing excellent customer experiences,” said South Region President Eric McGill. “We welcome FTS to the Ryerson Family of Companies and look forward to continued growth as we work to better serve tool steel customers across our business.”
“Ford Tool Steel is excited to align with a 180-year-old leader in metals distribution,” said Susan Gasser, owner of Ford Tool Steel. “Joining the Ryerson Family of Companies will help us continue to bring value for our customers for years to come.”