Ryerson Holding Corp. Q2 Earnings Drop 96%

(RTTNews) - Ryerson Holding Corp. (RYI) announced a profit for second quarter that lost ground compared to the same period last year.

The company said its bottom line totaled $0.7 million, or $0.02 per share. This was lower than $16.9 million, or $0.52 per share, in last year's second quarter.

Analysts had expected the company to earn $0.06 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 18.3% to $875.4 million. This was up from $739.8 million last year.

Ryerson Holding Corp. earnings at a glance:

-Earnings (Q2): $0.7 Mln. vs. $16.9 Mln. last year. -Earnings Decline (Y-o-Y): -95.9% -EPS (Q2): $0.02 vs. $0.52 last year. -EPS Decline (Y-o-Y): -96.2% -Analysts Estimate: $0.06 -Revenue (Q2): $875.4 Mln vs. $739.8 Mln last year. -Revenue Change (Y-o-Y): 18.3%