Ryerson Holding Corporation reported a net loss of $5.6 million for the first quarter of 2025, an improvement from a net loss of $7.6 million in the same period last year. The company's revenue for the quarter was $1.135 billion, down 8.4% from $1.239 billion in the first quarter of 2024. This decline in revenue was attributed to lower metal commodity prices and a decrease in average selling prices across various product lines, particularly in carbon and stainless steel. Despite the revenue drop, the company experienced a slight increase in shipment volumes, with tons sold rising by 0.6% year-over-year.
In terms of operational metrics, Ryerson's gross profit margin improved to 18.0%, up from 17.6% in the previous year, reflecting a decrease in cost of materials sold, which fell to $931.3 million from $1.021 billion. The company reported a LIFO expense of $6.8 million, significantly higher than the $1.0 million recorded in the first quarter of 2024. Operating expenses also decreased to $202.1 million from $216.8 million, primarily due to lower reorganization costs and reduced consulting and travel expenses. The operating profit for the quarter was $2.3 million, compared to $0.8 million in the prior year.
Ryerson's strategic developments included the ongoing integration of an acquisition made in the third quarter of 2024, which contributed to the increase in operating expenses. The company continues to focus on optimizing its operations and managing costs effectively. As of March 31, 2025, Ryerson had cash and cash equivalents of $33.6 million, an increase from $27.7 million at the end of 2024. Total debt rose to $497.3 million, up from $467.4 million, primarily due to increased working capital requirements.
Looking ahead, Ryerson's management expressed cautious optimism regarding market conditions, noting a slight recovery in industrial activity as indicated by the Purchasing Managers' Index (PMI). However, the company remains vigilant about the potential impacts of fluctuating commodity prices and ongoing uncertainties in global trade, particularly related to tariffs on steel and aluminum imports. The company anticipates that cash flow from operations and availability under its credit facility will be sufficient to meet its operational needs and contractual obligations in the near term.
About Ryerson Holding Corp
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