Service Centers
A.M. Castle Reports Third Quarter Loss
Written by Sandy Williams
October 28, 2014
A.M. Castle & Co. reported net sales of $245.5 million for third quarter for a net loss of $7.3 million.
Metals segment sales totaled $210.7 million, down 1.6 percent from the previous quarter and 4.2 percent lower year over year. Pricing dropped 2.5 percent and sales volumes declined 1.4 percent compared to Q3 2013.
“While we did not achieve the top-line growth that we had anticipated during the third quarter, we are encouraged that sales remained relatively constant for the first three quarters of 2014, and we saw sequential improvement in daily revenue and sales volumes during the third quarter,” said Scott Dolan, CEO of A. M. Castle. “Earlier in the third quarter, sales volumes were negatively impacted by branch consolidation execution issues in our plate and oil and gas businesses. Those issues have been remediated.”
“We expect to realize the full benefits of our inventory investment and deployment strategy in 2015,” added Dolan.
A. M. Castle & Co. is a global distributor of specialty metal and plastic products and supply chain services, principally serving the producer durable equipment, oil and gas, commercial aircraft, heavy equipment, industrial goods, construction equipment, retail, marine and automotive sectors of the global economy.
Sandy Williams
Read more from Sandy WilliamsLatest in Service Centers
Ryerson swung to loss in ’24, but saw fortunes improve over the last month
Ryerson swung to a loss in the fourth quarter, but has seen a turnaround in the last 30 days.
Despite policy uncertainty, Reliance upbeat on ’25
Reliance noted that it is about 95% domestically sourced.
Russel Metals posts solid quarter, doesn’t expect direct impact from tariffs
Russel Metals said on Thursday that it doesn’t expect to be directly impacted by US tariffs on Canadian steel. The Mississauga, Ontario-based distributor made the comments in its quarterly earnings report on Thursday. The company doesn’t export significant volumes to the US, it said, and thus doesn’t expect to be directly impacted. However, “The primary […]
Friedman logs quarterly loss amid ‘challenging conditions’
Friedman swings to a loss in its fiscal third quarter of 2025.
Tampa Steel Conference: Service centers more upbeat about 2025
If 2021 and 2022 was the party, 2024 is the morning after, one panelist said.