Ryerson Reports Second Quarter Results
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Ryerson Inc. (RYI) Misses Q2 EPS by 38c
July 29, 2020 4:56 PM EDTRyerson Inc. (NYSE: RYI) reported Q2 EPS of ($0.64), $0.38 worse than the analyst estimate of ($0.26). Revenue for the quarter came in at $772 million versus the consensus estimate of $745.4 million.
Q2 2020 Highlights:
Reduced net debt by $100 million to $793 million, its lowest level in ten years.Refinanced our 11.00% Senior Secured Notes due in 2022 through issuance of $500 million of 8.50% Senior Secured Notes due in 2028. The successful refinancing decreases our expected annual cash interest expense by approximately $16 million and includes optional redemption features.Continued operating as an essential business, successfully... More