Ryerson reports Q4 EPS 73c, two estimates 26c

Reports Q4 revenue $1.11B, two estimates $1.12B. Eddie Lehner, CEO, said, “Reflecting on the fourth quarter, and full-year 2023, I want to start by thanking my Ryerson teammates for prioritizing operating safely throughout our entire organization as safety is always our first priority. As far as our over-all business performance, 2023 marked the second year of Ryerson’s longest and most significant investment cycle in more than a generation. We are taking big steps to create our next-generation operating model and the industry’s best customer experience. Over the past year, we invested in the modernization, integration and expansion of our network of interconnected intelligent service centers, highlighted by an Enterprise Resource Planning conversion across our largest business unit, new and expanding facilities at Centralia, WA, University Park, IL, Las Vegas, NV, and Shelbyville, KY, as well as welcoming four excellent additions to the Family of Companies in BLP Holdings, LLC, Norlen Incorporated, TSA Processing, and Hudson Tool Steel Corporation. We finished the year with approximately two-thirds of our operating cash flow allocated to growth-oriented projects while increasing our dividend over four consecutive quarters and buying back approximately $114 million of Ryerson shares for the full-year.”