Stock Alert: Ryerson Holding Rises After Quarterly Results

(RTTNews) - Shares of industrial metals processor and distributor Ryerson Holding Corporation (RYI) increased $0.43 or 5.18% on Thursday, before closing at $8.73. The stock rose $0.70 or 8.02 in the extended trading to reach $9.43. RYI has traded in the range of $6.21- $12.54 in the last 52-weeks.

On Wednesday, the company reported positive earnings surprise in its fourth-quarter results.

Net income in the fourth quarter was $26.4 million, or $0.69 per diluted share, in the fourth quarter of 2019 compared to $0.6 million, or $0.01 per diluted share, in the prior-year period. Excluding items, adjusted earnings were $0.30. This compares with the average estimate of 3 analysts polled by Thomson Reuters of $0.10.

Revenues for the quarter decreased to $961.5 million from $1.16 billion for the same period last year on decline in average selling prices and shipments.

For the first quarter, Ryerson anticipates revenues to be in the range of $1.03 billion to $1.07 billion. The consensus estimate is at $1.12 billion.

Revenue outlook for the first quarter is reduced by approximately $15 million year-over-year, as coronavirus outbreak is causing temporary and partial operational interruptions within the company's China service centers.