Ryerson Holding expects its Q2 2021 shipments to increase by 1pc to 3pc and its revenues to be between $1.32bn to $1.34bn from the last quarter.
The metal processor also expects its adjusted EBITDA to be between $131mn to $135mn in the second quarter of 2021.
Total shipments volume dropped by 4.1pc to 543,000t (492,601mt) this quarter compared to 566,000t in Q1 2020 while it rose by 10.4pc from 492,000t in Q4 2020.
Ryerson’s shipments of carbon steel fell by 4.6pc to 414,000t in Q1 2021 compared to 434,000t in the same prior-year quarter period, while it rose by 8.4pc from 382,000t in the fourth quarter of last year.
The Chicago headquartered company’s shipments of stainless steel saw a 3.9pc fall to 74,000t in Q1 2021 compared to 77,0001 in Q1 2020, while shipments increased by 21.3pc from 61,000t in Q4 2020. The company’s shipments of aluminum products saw a 1.9pc rise to 53,000t this quarter compared to 52,000t in the same period in 2020 and increased by 15.2pc from 46,000t in Q4 2020.
Ryerson’s net sales of carbon steel products increased by 14.9pc to $587mn in Q1 2021 compared to $511mn in the same quarter last year and grew by 36.8pc from $429mn in Q4 2020. The company’s net sales of stainless steel products grew by 14.8pc to $302mn in this quarter from $263mn last year while it rose by 39.8pc from $216mn in Q4 2020. The company’s sales of aluminum products increased by 9.5pc to $241mn in Q1 2021 from $220mn in the same three-month period in 2020 while it rose by 24.2pc from $194mn in Q4 2020.
The company’s revenue in Q1 2021 was up by 13.6pc to $1.1bn compared to $1bn in Q1 2020 and increased by 34.5pc from $853mn in Q4 2020. Its adjusted EBITDA grew by 89.1pc $123.5mn in Q1 2021 from $34.4mn in the same quarter last year while it increased by 89.9pc from $33.6mn in Q4 2020.