Ryerson Holding Corporation, a Chicago-based distributor and value-added processor of industrial metals, today reported results for the fourth quarter and full-year ended December 31, 2016.
Revenues were $2.9 billion in 2016, down 9.7 percent from 2015, as average selling price per ton declined by 10.0 percent.
Net income attributable to Ryerson Holding Corporation improved to $18.7 million in 2016, compared with a loss of $0.5 million in 2015.
For the fourth quarter of 2016, revenues were $682.2 million, up 2.0 percent from the year-ago period. Tons shipped per day increased 1.4 percent with one fewer shipping day in the fourth quarter of 2016, and the average selling price per ton increased 2.2 percent from the fourth quarter of 2015.
The net loss attributable to Ryerson Holding Corporation in Q4 was $8.6 million, compared to a net loss of $20.5 million in the fourth quarter of 2015.
As for an outlook for the first quarter of 2017, Ryerson said that demand has improved in the oil and gas sectors most notably, while other end markets in aggregate are showing “modest if unspectacular improvement.” The company also expects supply side stabilization, “as policy lines have drawn a playing field in which prices are better supported as we move through the quarter.”