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Ryerson Holding Q4 revenues increased 22.2 percent to $1,160.0 million

Staff Writer | March 6, 2019
Ryerson Holding Corporation reported results for the fourth quarter and full-year ended December 31, 2018.
Ryerson Holding
Ryerson Holding   On a same-store basis, revenues increased 22.2 percent
Revenues were $1,160.0 million for the fourth quarter of 2018, up 43.1 percent from the year-ago period due to increases in tons shipped of 22.8 percent and average selling price per ton of 16.5 percent.

On a same-store basis, revenues increased 22.2 percent to $990.7 million in the fourth quarter of 2018 compared to the year-ago period with average selling prices 18.7 percent higher and tons shipped 3.0 percent higher.

Gross margin was 17.2 percent for the fourth quarter of 2018, an increase of 50 basis points compared to the third quarter of 2018 and an increase of 40 basis points compared to the fourth quarter of 2017.

Included in cost of materials sold was LIFO expense of $0.9 million for the fourth quarter of 2018, $32.1 million for the third quarter of 2018, and $8.1 million for the fourth quarter of 2017.

Gross Margin, excluding LIFO and purchase accounting adjustments decreased to 17.5 percent in the fourth quarter of 2018, compared with 19.6 percent in the third quarter of 2018 and 17.8 percent in the fourth quarter of 2017.

Gross Margin, excluding LIFO and purchase accounting adjustments compressed sequentially due to rising average inventory costs and flat average selling prices experienced in the fourth quarter of 2018.

A reconciliation of gross margin to gross margin, excluding LIFO and purchase accounting adjustments is included below in this news release.

2018 results

Revenues were $4.4 billion in 2018, up 31.0 percent from 2017, as average selling price per ton increased by 15.6 percent and tons shipped increased by 13.4 percent.

On a same-store basis, revenues were $4.1 billion in 2018, up 20.7 percent from 2017 with average selling prices 16.0 percent higher and volumes 4.1 percent higher.

Gross margin was 17.2 percent in 2018, relatively unchanged compared to 17.3 percent in 2017.

Included in cost of materials sold was net LIFO expense of $90.2 million in 2018 and $19.9 million in 2017.

Gross margin, excluding LIFO and purchase accounting adjustments increased to 19.4 percent in 2018, compared with 17.9 percent in 2017.


 

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