Ryerson Holding Guides Q2 Revenue Above Street Estimate

Ryerson Holding, a processor and distributor of industrial metals, guided Q2 revenue in the range of $865 million to $875 million, up from $740 million in the same period a year ago and topping the Street projection of $824.2 million.

The anticipated higher revenue is expected to be offset by margin compression, as inventory replacement costs rose faster than average selling prices, the company said. Ryerson expects Q2 net income in the range of $0 million to $2 million, down from $6 million in Q2 2016.

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