Ryerson Holding Corporation · NYSE:RYZ
Ryerson — Q4 2019 Earnings Presentation
18 slides from Ryerson's earnings presentation, Mar 4, 2020
Slide 1: Q4 2019 Ryerson Quarterly Release Presentation
Q4 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 Key Financial Metrics
2019 Key Financial Metrics A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix. . Higher adjusted earnings per share and strong free cash flow generation Net Sales Gross Margin, excl. LIFO Diluted Adjusted Earnings per Share Adj. EBITDA, excl. L
Slide 4: Fourth Quarter 2019 vs. Fourth Quarter 2018 Financial Performance
Fourth Quarter 2019 vs. Fourth Quarter 2018 Financial Performance 6% decrease 12% decrease 17% decrease, which includes an $11M vacation accrual adjustment as well as reductions in variable compensation and staffing Expenses exclude depreciation, amortization and one-time items. A reconciliation of
Slide 5: 2019 vs. 2018 Financial Performance
2019 vs. 2018 Financial Performance 2% decrease 2% decrease 250 bps contraction Expenses decreased by 6%, driven by an $11M vacation accrual reduction and reduced variable compensation and staffing Expenses exclude depreciation and one-time items. Volume, pricing, margins and expense above are repre
Slide 6: Central Steel & Wire Integration Performance Update
Central Steel & Wire Integration Performance Update Leveraging synergies, streamlining processes while supporting commercial and cultural transformation Integrate CS&W long & tube products, leverage expanded supply chain, and right-size inventory Consolidate overlapping locations and execute structu
Slide 7: Next Phase Financial Targets
Next Phase Financial Targets: 2019 Performance 16.9% Gross Margins, excl. LIFO Target: 20.0% 5.4% U.S. Market Share Target: 6.0% Targets are based on a 3-year window; Service center industry growth assumed consistent with 2018 tons shipped as a baseline of industry demand with 3.5 thousand tons per
Slide 8: Improved Book Value of Equity
Improved Book Value of Equity Continued to build upon a significant equity turnaround in 2019 Book Value of Equity ($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 2019 Tons Shipped and Sales Mix by End Market Metal Fab and Machine Shop 23% Industrial Equipment 18% Commercial Ground Transportation 16% Consumer Durable 11% Food & Ag 10% Construction 8% HVAC 6% Oil & Gas 4% Excluding Other Industry Sectors which represent approximately 4%
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, gain on the sale of assets, impairment charges on assets, reorganization expenses, gain on bar
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
Slide 14: Annual Financial Highlights
Annual 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 Gross Margin & Gross Margin, excl. LIFO Adjusted EBITDA, excl. LIFO Margin %
Slide 15: Non-GAAP Reconciliation: Quarterly
Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO Net income includes loss on bargain purchase of $3M in Q4 2018 for acquisition of CS&W and includes a vacation accrual adjustment of $11M in Q4 2019. `
Slide 16: Non-GAAP Reconciliation: Annual
Non-GAAP Reconciliation: Annual Net income includes gain on bargain purchase of $70M in 2018 for acquisition of CS&W and includes a vacation accrual adjustment of $11M in 2019.
Slide 17: Non-GAAP Reconciliation: Adjusted Net Income
Non-GAAP Reconciliation: Adjusted Net Income
Slide 18: Ryerson
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