Ryerson expects its shipments to increase by 11-13pc in Q1 2021 on improving market conditions. It anticipates revenue between $1.08-1.10bn in the first quarter.
Last year, the company’s total shipments fell by 15.6pc to 2mn t (1.8mn mt) from 2.3mn t in 2019. Its Q4 2020 shipment declined by 9.1pc to 492,000 t from 541,000 t in the same quarter last year but rose by 0.6pc to 489,000 t from Q3 2020.
The firm’s carbon steel shipments declined by 15.5pc last year to 1.5mn t from 1.8mn t in 2019 and fell by 9.3pc to 382,000t in Q4 2020 from 421,000t in the same quarter in 2019. However, shipments increased by 1.3pc from 377,000t in Q3 2020.
Ryerson’s aluminum shipments dropped by 18pc to 187,000t in 2020 from 228,000t in 2019 and fell by 8pc in Q4 2020 to 46,000t from 50,000t in Q4 2019. Aluminum shipments were up 6.1pc compared to Q3 2020.
Stainless steel shipments declined by 14.2pc to 260,000t in 2020 from 303,000t in 2019. Ryerson’s stainless steel shipments in Q4 2020 fell 9pc to 61,000t from 67,000t in Q4 2019 and were down by 3.2pc from 63,000t in Q3 2020.
The company’s net sales of carbon steel declined by 25.4pc to 1.7bn t last year from 2.3bn t in 2019. Its Q4 2020 net sales fell by 12.8pc to 429,000t from 492,000t in Q4 2019 and rose by 4.4pc from 411,000t in Q3 2020. Its aluminum sales dropped by 24.7pc to 767mn t last year from 1bn t in 2019 and fell by 8.9pc to 194,000 t in Q4 2020 from 213,000t in Q4 2019. Sales in Q4 were unchanged compared to the prior quarter.
Ryerson’s stainless steel net sales declined by 16.1pc to 888mn t in 2020 from 1bn t in 2019. In the fourth quarter of last year, its stainless steel net sales dropped by 10.7pc to 216,000t from 242,000t in Q4 2019 but rose by 1.9pc from 212,000 t in Q3 2020.
The firm’s total revenue fell by 23pc to $3.4bn last year from $4.5bn in the prior year. Its revenue in Q4 2020 declined by 11.3pc to $853mn from $961.5mn in Q4 2019 and witnessed a 2.6pc increase from $831.5mn in Q3 2020.