Ryerson Inc. (RYI) Tops Q1 EPS by 22c, Revenues Miss; Offers Q2 EPS Guidance Above Consensus

Ryerson Inc. (NYSE: RYI) reported Q1 EPS of $0.79, $0.22 better than the analyst estimate of $0.57. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.25 billion.

Management Commentary

Eddie Lehner, Ryerson's President and Chief Executive Officer said, "I want to thank our customers for the opportunity to earn your business, which we never take for granted, and my Ryerson and CS&W colleagues for an outstanding start to the year. Ryerson grew net income and market share while generating expense leverage and managing working capital effectively to deliver strong earnings per share and higher Adjusted EBITDA, excluding LIFO in the first quarter of 2019 compared to both the first quarter of 2018 and fourth quarter of 2018. We accomplished these financial objectives despite well chronicled disruptive winter weather conditions, falling commodity prices, and rising average inventory costs which compressed margins through the first quarter. Ryerson's network of intelligent service centers is providing ever better solutions and experiences to our customers as we continue bringing new value-added capabilities to the market."

GUIDANCE:

Ryerson Inc. sees Q2 2019 EPS of $0.77-$0.87, versus the consensus of $0.58.

For earnings history and earnings-related data on Ryerson Inc. (RYI) click here.

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