Ryerson Holding Non-GAAP EPS of $1.48, revenue of $1.54B; initiates Q4 guidance

Nov. 03, 2022 1:57 AM ETRYIBy: Meghavi Singh, SA News Editor

Ryerson Holding press release (RYI): Q3 Non-GAAP EPS of $1.48.
Revenue of $1.54B (+97368.4% Y/Y).
Ryerson generated Adjusted EBITDA, excluding LIFO of $78.5M in the third quarter of 2022, compared to second quarter 2022 Adjusted EBITDA, excluding LIFO of $224.2M.
Generated Operating Cash Flow of $151.6M and Free Cash Flow of $124.0M.
Ryerson anticipates fourth quarter 2022 revenues in the range of $1.25 billion to $1.30 billion vs. consensus of $1.25B, with a sequential average selling price decrease of 7% to 11%, and a shipment volume decrease of 8% to 10%. LIFO income in the fourth quarter of 2022 is expected to be $20 million. We expect adjusted EBITDA, excluding LIFO in the range of $40 million to $44 million and earnings per diluted share in the range of $0.70 to $0.78 vs. consensus of $0.69.