Ryerson Holding Corp Down 8.47% To $32.22 After Earnings Beat

Ryerson Holding Corp (RYI) surpassed earnings projections on 2/21/2024 for Q4 2023.

The consensus among analysts for Ryerson Holding Corp was for an earnings per share (EPS) of $0.26. The firm was able to surpass those projections, reporting an EPS of $0.73, a positive surprise of $0.47 (181%). Profits rose 212% year-over-year after reporting an EPS loss of $0.65 per share in its year-ago quarter. The positive growth rate signals that the Industrials company is performing well amid recent economic conditions.

Revenues were downbeat at $1.1 billion. That represents a 13.66% decrease in revenues from the year-ago report and is 0.73% lower than consensus estimates set at $1.1 billion.

The stock is down 8.47% to $32.22 after the report.

Ryerson Holding Corp's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Ryerson Holding Corp has performed a little below average during the past few months. Before the report, Ryerson Holding Corp received a Long-Term Technical Rank by InvestorsObserver of 46, putting it in the bottom half of stocks. The firm set a 52-week low on October 23, 2023 at $26.15 and set a 52-week high on July 3, 2023 at $44.7.

Ryerson Holding Corp provides a metals service center, value-added processor and is a distributor of industrial metals with operations in the United States, Canada and Mexico. In addition to its North American operations, it conducts processing and distribution operations in China. Its customers range from local, independently owned fabricators and machine shops to large, international original equipment manufacturers. It carries a full line of products in stainless steel, aluminum, carbon steel, and alloy steels and a limited line of nickel and red metals in various shapes and forms. The company generates substantially all of its revenue from sales of metals products.