Ryerson Sees Q3 Customer Shipments To Decrease 2%-4%, QoQ; Q3 EPS $0.01-$0.10 Vs $0.13 Est.; Revenue $1.12B-$1.16B Vs $1.23B Est.
Portfolio Pulse from Benzinga Newsdesk
Ryerson expects a decrease in customer shipments by 2%-4% QoQ for Q3 2024. The company anticipates Q3 EPS to be between $0.01-$0.10, below the $0.13 estimate, and revenue to be between $1.12B-$1.16B, also below the $1.23B estimate.
July 30, 2024 | 9:14 pm
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Ryerson expects a decrease in customer shipments by 2%-4% QoQ for Q3 2024. The company anticipates Q3 EPS to be between $0.01-$0.10, below the $0.13 estimate, and revenue to be between $1.12B-$1.16B, also below the $1.23B estimate.
The projected decrease in shipments and lower-than-expected EPS and revenue figures are likely to negatively impact Ryerson's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100