29
Oct
14:21
Ryerson debt adjustments create Q3 net loss
A one-time settlement charge related to company pensions pushed service centre chain Ryerson into the red during the third quarter, Kallanish reports.
Ryerson generated a net loss of $39.9 million in Q3 on sales of $832m, down from a profit of $10.1m on sales of $1.1 billion in Q3 2019.
Q3’s loss includes a $52.5m non-cash pension liability settlement charge and $17.1m in 2022 note refinancing. Excluding these items, Ryerson posted adjusted net …
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Very good overview of the weekly steel market.
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