Slide 1: Ryerson Quarterly Release Presentation Q2 2022
Ryerson Quarterly Release Presentation Q2 2022 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”) or its subsidiaries and no investment decision should be made based upon the information pr
Slide 3: Q2 2022 Highlights
Q2 2022 Highlights Record diluted EPS of $5.10 and Adjusted diluted EPS of $5.31 on $1.74 billion of revenue Net Income1 of $196.4 million and Adjusted EBITDA, excluding LIFO of $224.2 million Repurchased $186.9 million in 8.50% Senior Secured Notes due 2028 (the "Notes") $47.7 million in shares
Slide 4: Shareholder Structure Improved
Shareholder Structure Improved 5.1 million share sell-down by controlling shareholder Platinum1 improves free float At March 31st Platinum owned 54% of Ryerson’s shares outstanding, with remaining 46% freely floated On May 13th Platinum sold 5.1 (24%) of their 21.0 million share stake reducing owner
Slide 5: Debt Opportunistically Retired
Debt Opportunistically Retired Consistently driven down high-yield debt as part of financial transformation strategy Oversubscribed tender allowed for increased principal retirement through May ‘22 – from $75M to $132M Additionally repurchased $54M of principal in Q2 2022 Remaining $50M called at 10
Slide 6: Revolving Credit Facility Extension and Amendment
Revolving Credit Facility Extension and Amendment creates interest savings and flexibility Global liquidity increased to $894M in Q2’22 from $760M in Q1’22 Leverage maintained at historic low 0.5x Stronger Liquidity to Fund Operations and Investments Cash and Cash Equivalents Foreign Availability Ca
Slide 7: Macro & Commodities
Macro & Commodities Carbon steel and bright metals structurally higher despite slowing demand Commodity Prices Since Dec. 2017 U.S. Industrial Production U.S. ISM Purchasing Manager’s Index Sources: Bloomberg: prices through June 30, 2022; Futures prices as of July 12,2022; Federal Reserve, Industri
Slide 8: Sequential Q2 2022 End-Market Trends
Sequential Q2 2022 End-Market Trends North American volumes impacted by some end-market deferred demand; partially offset by increases in Oil & Gas, Commercial Ground Transportation, and Metal Fabrication and Machine Shops 12021 Sales Mix Excludes Other Industry Sectors which represent approximately
Slide 9: Q3 2022 Guidance
Q3 2022 Guidance Ryerson anticipates a solid Q3 despite softening demand Net Sales Net Income1 Adj. EBITDA, excl. LIFO $1.45 - 1.55B $90 - 98M $110 - 120M Third quarter revenue guidance of $1.45B to $1.55B assumes: Average Selling Price decrease of 5% to 8% Shipments decrease of 4% to 6% Diluted Ear
Slide 10: Q2 2022 Selected Financial & Operating Metrics
Q2 2022 Selected Financial & Operating Metrics See Ryerson’s 8-K filed on August 3, 2022. 1Free Cash Flow Yield is calculated based on quarterly cash flow divided by period end market capitalization Q2 2022 Investment 2022 Projection $24M $100M Capital Investment Expenses Expenses / Sales +$8M +47 b
Slide 11: Reduced Net Debt and Fixed Cash Commitments
Ryerson has driven down net debt and fixed cash commitments as part of its financial transformation strategy, significantly reducing annual interest payments 2016 Refinance 2020 Refinance 2021 Q1 2022 Q2 2022 Principal Amount $650M $500M $300M $237M $50 Coupon 11.00% 8.50% 8.50% 8.50% 8.
Slide 12: Capital Allocation Plan Drives Value
Successful track record of M&A Accretive strategic bolt-ons Large turn around (CS&W) $50M authorized & repurchased $75M, 2-year repurchase program authorized Competitive yield Q3 ‘22 dividend increased to $0.15/share $100M planned for 2022 $74M on growth, modernization, value-add & intelligent syste
Slide 13: Capital Allocation Plan Update
Ryerson distributed its fourth quarterly cash dividend and completed ~1.6M in share repurchases. On August 3, 2022 the Board of Directors approved a fourth dividend increase, raising the Company’s third quarter dividend to $0.15 per share $0.125 per Share Return of capital to investors and $47.7M Sh
Slide 14: Q2 2022 Key Financial Metrics
1 Net Income attributable to Ryerson Holding Corporation; A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix. See Ryerson’s 8-K filed on August 3, 2022 Q2 2022 Key Financial Metrics Strong quarter with record EPS and balance sheet milestones af
Slide 15: Intelligent Network of Industrial Metals Service Centers
Intelligent Network of Industrial Metals Service Centers Say “yes” culture ~100 company-operated locations Hundreds of “virtual” locations Dedicated logistics network Availability, speed, ease, consistency Advanced value-add Diversified (metals mix, 40k customers, 75k products) 24/7 e-commerce platf
Slide 16: Appendix
Appendix
Slide 17: Quarterly Financial Highlights
Tons Sold (000’s) Quarterly Financial Highlights 1 Net Income attributable to Ryerson Holding Corporation A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in this Appendix Average Selling Price Per Ton Gross Margin & Gross Margin, excl. LIFO Adj EBITDA, excl
Slide 18: Ryerson Book Value and Balance Sheet Transformation
Ryerson Book Value and Balance Sheet Transformation 12021 includes $12M of deferred pension contributions as allowed under the CARES Act; 2Q2 2022 represents Trailing Twelve Months figures; 3Avg. Competitor includes Klockner, Olympic, Reliance and Russel Fixed Cash Commitments 2 2 3 3 1
Slide 19: Non-GAAP Reconciliation: Quarterly Adjusted EBITDA, excl. LIFO
Non-GAAP Reconciliation: Quarterly Adjusted EBITDA, excl. LIFO 19
Slide 20: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation Q2 2022 reported net income1 of $196.4 million reflects a $3.8 million gain on sales of assets and a $14.5 million cash loss on the early retirement of debt. Excluding these tax effected impacts of $2.7 million, adjusted earnings were $204.4 million in Q2 2022 1 Ne
Slide 21: Non-GAAP Reconciliations: Net Debt
Non-GAAP Reconciliations: Net Debt (In millions) Q2 ’21 Q3 ’21 Q4 ’21 Q1 ’22 Q2 ’22 Total debt 600.9 672.6 639.3 551.3 533.5 Less: cash and cash equivalents (38.1) (39.9) (51.2) (44.7) (41.4) Net debt $562.8 $632.7 $588.1 $506.6 $492.1
Slide 22: EBITDA and Adjusted EBITDA Definitions
31 Note: EBITDA represents net income before interest and other expense on debt, provision for income taxes, depreciation, and amortization. Adjusted EBITDA gives further effect to, among other things, reorganization expenses, gain on sale of assets, loss on retirement of debt, loss on pension settl
Slide 23: Ryerson
RYERSON