Ryerson Holding Stock

Ryerson Holding Corporation (Ryerson Holding) operates as a value-added processor and distributor of industrial metals with operations in the United States (‘U.S.’).

The company operates through JT Ryerson (Joseph T. Ryerson & Son, Inc.) and other U.S. subsidiaries, in Canada through the company’s indirect wholly-owned subsidiary Ryerson Canada, Inc., a Canadian corporation (‘Ryerson Canada’), and in Mexico through the company’s indirect wholly-owned subsidiary Ryerson Metals de Mexico, S. de R.L. de C.V., a Mexican corporation (‘Ryerson Mexico’).

In addition to the company’s North American operations, the company conducts metal processing and distribution operations in China through an indirect wholly-owned subsidiary, Ryerson China Limited, a Chinese limited liability company (‘Ryerson China’).

Through this network the company serve approximately 40,000 customers across a wide range of manufacturing end-markets. The company’s customers range from local, independently owned fabricators and machine shops to large, international original equipment manufacturers. The company carries a full line of approximately 75,000 products in stainless steel, aluminum, carbon steel, and alloy steels and a limited line of nickel and red metals in various shapes and forms. In addition to the company’s metals products, the company offers numerous value-added processing and fabrication services, and nearly 80% of the products the company sells are processed to meet customer requirements.

The company’s business strategy includes providing a superior level of customer service and responsiveness, technical services, and inventory management solutions while maintaining low operating costs in order to maximize financial results. The company’s growth strategy is based on increasing the company’s operating results through organic growth activities and strategic acquisitions.

To that end, the company continues to focus on its interconnected network, systems, and enhancing the company’s value-added services and online presence to provide increased access, functionality, and flexibility to the company’s customers. The company is using advanced analytics to improve pricing and inventory utilization. The company’s service centers are strategically located near its customers, which permits the company to quickly process and deliver the company’s products and services, often the day after receiving an order. The company owns, leases, or contracts a fleet of tractors and trailers, allowing the company to efficiently meet its customers’ delivery demands. The company’s range of products together with its breadth of services allows the company to service a diverse customer base and to create long-term partnerships with the company’s customers and enhances the company’s profitability.

The company focus on strategic acquisitions that complement and enhance the company’s product, customer, and geographic diversification. Ryerson’s M&A strategy includes both transformative turnaround acquisitions and value-add, bolt-on acquisitions. Recently, Ryerson has focused on bolt-on acquisitions. In 2023, Ryerson's acquisitions included BLP Holdings, LLC, Norlen Incorporated, TSA Processing, and Hudson Tool Steel Corporation.

The company’s operations serve a diverse range of industries, including commercial ground transportation, metal fabrication and machine shops, industrial machinery and equipment manufacturing, consumer durable equipment, HVAC manufacturing, construction equipment manufacturing, food processing and agricultural equipment manufacturing, and oil and gas.

Products and Services

The company carries a full line of carbon steel, stainless steel, alloy steels, and aluminum, and a limited line of nickel and red metals. These materials are stocked in a number of shapes, including coils, sheets, rounds, hexagons, square and flat bars, plates, structurals, and tubing.

The company also provides a wide variety of processing services to meet the company’s customers’ needs. Most of the products that the company carries require expensive specialized equipment for material handling and processing.

Customers and Markets

The company’s customer base is diverse, numbering approximately 40,000 in a variety of industries, including metal fabrication and machine shops, industrial machinery and equipment, commercial ground transportation, consumer durable, food processing and agricultural equipment, construction equipment, HVAC, and oil & gas. Although the company sells directly to many large original equipment manufacturers, the majority of the company’s sales are to smaller customers, including small machine shops and fabricators, in small quantities with frequent deliveries, helping them manage their working capital and credit needs more efficiently.

Substantially all of the company’s sales are attributable to its U.S. operations and substantially all of the company’s long-lived assets are located in the U.S.

The company’s customers are primarily located throughout the U.S., but the company also has international customers. The company’s decentralized operating structure and facilities located near or close to most of the company’s customers enable an efficient delivery system capable of handling a high frequency of short lead time orders. The company transports its products directly to customers via its in-house and dedicated truck fleet, which further supports the just-in-time delivery requirements of the company’s customers, and via third-party trucking firms.

A portion of the company’s customers experience seasonal slowdowns. The company’s sales, as measured in tonnage sold, in the months of July, November, and December traditionally have been lower than in other months because of a reduced number of shipping days and holiday or vacation closures for some customers. Consequently, the company’s sales in the first two quarters of the year are usually higher than in the third and fourth quarters (year ended December 2023).

Sales and Marketing

The company maintains its own professional sales force. In addition to the company’s office sales staff, the company markets and sells its products through the use of its field sales force that has extensive product and customer knowledge and offers a comprehensive catalog of the company’s products. Additionally, the company offers its customers the ability to purchase its products through the company’s e-commerce website.

Environmental, Health, and Safety Matters

The company’s U.S. operations are also subject to the Department of Transportation Federal Motor Carrier Safety Regulations.

History

Ryerson Holding Corporation was founded in 1842. The company was incorporated in 2007.