CHICAGO (AP) _ Ryerson Holding Corp. (RYI) on Monday reported second-quarter earnings of $16.4 million.
On a per-share basis, the Chicago-based company said it had net income of 43 cents. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The metal products distributor and processor posted revenue of $1.2 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $1.19 billion.
For the current quarter ending in October, Ryerson said it expects revenue in the range of $1.08 billion to $1.13 billion.
Ryerson shares have risen 17% since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.40, a decrease of 34% in the last 12 months.