Ryerson Holding Corporation · NYSE:RYZ
Ryerson — Q3 2019 Earnings Presentation
16 slides from Ryerson's earnings presentation, Oct 29, 2019
Slide 1: Q3 2019 Ryerson Quarterly Release Presentation
Q3 2019 Ryerson Quarterly Release Presentation Exhibit 99.2
Slide 2: Important Information About Ryerson Holding Corporation
31 Important Information About Ryerson Holding Corporation These materials do not constitute an offer or solicitation to purchase or sell securities of Ryerson Holding Corporation (“Ryerson” or “the Company”) and no investment decision should be made based upon the information provided herein. Ryers
Slide 3: 2019 Financial Metrics
2019 Financial Metrics A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix. . Market share gain and strong free cash flow generation Net Sales Gross Margin, excl. LIFO Diluted Adjusted Earnings per Share Adj. EBITDA, excl. LIFO Cash from Operati
Slide 4: Third Quarter 2019 Pro Forma Gross Margin, excl. LIFO vs. Actual
Third Quarter 2019 Pro Forma Gross Margin, excl. LIFO vs. Actual Performance Affected by inventory holding losses Continued commodity headwinds Expenses exclude depreciation and one-time items. A reconciliation of non-GAAP Adjusted EBITDA, excluding LIFO to the comparable GAAP measure is included in
Slide 5: Third Quarter 2019 Year-over-Year Financial Performance
Third Quarter 2019 Year-over-Year Financial Performance 4% decrease 8% decrease 6% decrease Expenses exclude depreciation and one-time items. A reconciliation of non-GAAP Adjusted EBITDA, excluding LIFO to the comparable GAAP measure is included in the Appendix. $30M in Adj. EBITDA, excl. LIFO is a
Slide 6: Year-to-Date 2019 Financial Performance
Year-to-Date 2019 Financial Performance 2% decrease 2% increase 380 bps contraction Expenses decreased by 2% Expenses exclude depreciation and one-time items. A reconciliation of non-GAAP Adjusted EBITDA, excluding LIFO to the comparable GAAP measure is included in the Appendix. $143M of Adj. EBITDA
Slide 7: Next Phase Financial Targets: Year-to-Date 2019 Performance
Next Phase Financial Targets: Year-to-Date 2019 Performance 16.5% Gross Margins, excl. LIFO Target: 20.0% 5.5% U.S. Market Share Target: 6.0% Targets are based on 3-year window; Service center industry growth assumed consistent with 2018 tons shipped and average selling prices consistent with Ryerso
Slide 8: Improved Book Value of Equity
Improved Book Value of Equity Significant Turnaround From an Equity Deficit to a Positive Equity Balance Book Value of Equity ($M)
Slide 9: Strong Liquidity to Fund Operations and Investments
Strong Liquidity to Fund Operations and Investments Ryerson has significant liquidity to fund operations and pursue strategic investments ($M)
Slide 10: End-Market Performance
End-Market Performance Q3 2019 YTD Tons Shipped and Sales Mix by End Market Metal Fab and Machine Shop 22% Industrial Equipment 18% Commercial Ground Transportation 16% Consumer Durable 11% Food & Ag 10% Construction 8% HVAC 6% Oil & Gas 5% Excluding Other Industry Sectors which represent approximat
Slide 11: Appendix
Appendix
Slide 12: EBITDA and Adjusted EBITDA definitions
31 EBITDA represents net income before interest and other expense on debt, provision (benefit) for income taxes, depreciation, and amortization. Adjusted EBITDA gives further effect to, among other things, impairment charges on assets, reorganization expenses, gain on bargain purchase, and foreign c
Slide 13: Quarterly Financial Highlights
Quarterly Financial Highlights A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in this Appendix. Tons Sold (000’s) Average Selling Price Per Ton Adjusted EBITDA, excl. LIFO Margin % Gross Margin & Gross Margin, excl. LIFO & Purchase Accounting Adjustments
Slide 14: Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO
Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO Net income includes gain on bargain purchase of $73M in Q3 2018 and loss on bargain purchase of $3M in Q4 2018 for acquisition of CS&W.
Slide 15: Non-GAAP Reconciliation: Adjusted Net Income
Non-GAAP Reconciliation: Adjusted Net Income
Slide 16: Ryerson
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