Ryerson Holding Q2 Adj $0.33 Beats $0.21 Estimate, Sales $1.23B Miss $1.27B Estimate
Portfolio Pulse from Benzinga Newsdesk
Ryerson Holding (NYSE:RYI) reported Q2 earnings of $0.33 per share, beating the analyst estimate of $0.21. However, sales of $1.23 billion missed the $1.27 billion estimate. Earnings decreased by 68.87% year-over-year, and sales decreased by 8.79% year-over-year.
July 30, 2024 | 9:12 pm
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Ryerson Holding reported Q2 earnings of $0.33 per share, beating the analyst estimate of $0.21. However, sales of $1.23 billion missed the $1.27 billion estimate. Earnings decreased by 68.87% year-over-year, and sales decreased by 8.79% year-over-year.
While Ryerson Holding's earnings per share beat expectations, the significant year-over-year decline in both earnings and sales, along with the sales miss, creates a mixed outlook. This could lead to neutral short-term price movement as investors weigh the positive earnings beat against the negative sales performance and year-over-year declines.
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