Russel Metals
Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy products and steel distributors, under various names.
Latest News
Russel Metals Reports Q3 2010 Net Earnings
03 November 2010 - Russel Metals Inc. announced third-quarter earnings of $17 million, or $0.28 per share, compared with $0.31 per share for the second quarter of 2010 and $0.21 per share for the 2009 third quarter. For the nine months ended September 30, 2010, net earnings were $52 million, or $0.87 per share, on revenues of $1.6 billion.
Russel Metals Comments on Potential Strike in British Columbia
21 October 2010 - Russel Metals Inc. is currently in mediation discussions with a B.C. Ministry of Labour mediator and United Steelworkers representatives to help reach agreement on language and issues related to five plants in British Columbia. Under the mediation process, the parties can neither strike nor force a lockout.
Russel Metals Announces Executive Promotion
15 September 2010 - Russel Metals Inc. has promoted John G. Reid to Vice President Operations, Service Centers. In addition to his current responsibilities for U.S. service centers, Reid will add oversight of the company's service centers in British Columbia, Alberta, Manitoba, and Saskatchewan.
Russel Metals Reports Stronger Q2 2010 Net Earnings
12 August 2010 - Russel Metals Inc. announced second-quarter earnings of $19 million, or $0.31 per share, an improvement of $0.28 per share from the first quarter of 2010. These results were stronger than both the comparable adjusted net earnings for the second quarter of 2009 of $0.10 per share and the reported loss of $0.41 per share.
Russel Metals Reports Stronger Q1 Net Earnings
14 May 2010 - Russel Metals Inc. announced first-quarter earnings of $17 million or $0.28 per share, compared to net earnings of $0.10 per share, excluding inventory write-downs, in the first quarter of 2009. Reported results for Q1 2009 were a loss of $0.92 per share due to inventory write-downs.
Russel Metals Reports 2009 Annual, Fourth-Quarter Results
23 February 2010 - Russel Metals Inc. reported a fourth-quarter loss of $25 million ($0.42 per share), which includes a pre-tax net inventory write-down of $5 million and an asset impairment charge of $35 million. For the year, the company reported a loss of $92 million ($1.54 per share).
Russel Metals Announces Executive Promotion
18 September 2009 - Russel Metals announces the promotion of John G. Reid to the position of Vice President, US Operations.
Russel Metals Reports 2009 2nd Quarter Loss
06 August 2009 - Russel Metals reports a net loss of $24.6 million on revenues of $462.5 million for the second quarter, and a net loss of $79.6 million on revenues of 1.105 billion for the first six months of 2009.
Russel Metals Reports First Quarter Loss
13 May 2009 - Russel Metals reports a net loss of $55 million on revenues of $642.3 million for the first quarter of 2009.
Russel Metals Amends, Increases Credit Facility
05 May 2009 - Russel Metals amends its credit agreement with a syndicate of banks, increasing the credit available under the facility to Cdn$252.5 million.
Russel Metals Initiates Actions to Reduce Operating Expenses
24 February 2009 - Russel Metals commences cost containment measures including layoffs, reduced working hours and salary reductions that are expected to result in an aggregate net decrease in operating costs of more than $25 million in 2009.
Russel Metals Reports 4th Quarter, Full Year 2008 Results
24 February 2009 - Russel Metals reports net earnings of $29.0 million on revenues of $842.7 million for the fourth quarter, and net earnings of $228.5 million on revenues of $3.366 billion for the year ended December 31, 2008.
Russel Metals Initiates Actions to Reduce Operating Expenses
24 February 2009 - Russel Metals commences cost containment measures including layoffs, reduced working hours and salary reductions that are expected to result in an aggregate net decrease in operating costs of more than $25 million in 2009.
Russel Metals Reports 4th Quarter, Full Year 2008 Results
24 February 2009 - Russel Metals reports net earnings of $29.0 million on revenues of $842.7 million for the fourth quarter, and net earnings of $228.5 million on revenues of $3.366 billion for the year ended December 31, 2008.
Russel Metals Announces New Leadership
23 December 2008 - Russel Metals’ newly announced President and CEO will succeed Edward M. (Bud) Siegel, who has led Russel Metals since 1997.
Russel Metals to Acquire Norton Metal Products
11 November 2008 - Russel Metals Inc. has entered into a stock purchase agreement to acquire 100% of the outstanding capital stock of Norton Metal Products, a family-owned metals service center located in Fort Worth.
Russel Metals Reports 3rd Quarter Net Earnings
07 November 2008 - Russel Metals reports net earnings of $92 million on consolidated revenues of $955 million for the third quarter, and net earnings of $200 million on revenues of $2.5 billion for the nine months ended September 30, 2008.
Russel Metals Announces Automatic Share Purchase Plan
23 September 2008 - Russel Metals enters into an automatic share purchase plan with a broker to facilitate repurchases of its common shares under its previously announced normal course issuer bid.
Russel Metals Reports 2nd Quarter Earnings
06 August 2008 - Russel Metals reports net earnings of $79 million on consolidated revenues of $856 million for the quarter ended June 30, 2008.
Russel Metals to Exceed Projected 2nd Quarter Earnings
12 June 2008 - Russel Metals says that the average analysts’ consensus earnings for the second quarter are understated by 35% to 45%.
