Ryerson Holding Corporation (NYSE:RYI) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET

Company Participants

Jorge Beristain - Vice President-Finance

Edward Lehner - President and Chief Executive Officer

Michael Burbach - Chief Operating Officer

James Claussen - Executive Vice President and Chief Financial Officer

Molly Kannan - Controller and Chief Accounting Officer

John Orth - Executive Vice President-Operations

Operator

Good day, everyone, and welcome to the Ryerson Holding Corporation's First Quarter 2022 Conference Call. Today's call is being recorded. [Operator Instructions]

At this time, I would like to turn the call over to Jorge Beristain. Please go ahead.

Jorge Beristain

Good morning. Thank you for joining Ryerson Holding Corporation's First Quarter 2022 Earnings Call. On our call, we have Eddie Lehner, Ryerson's President and Chief Executive Officer; Mike Burbach, our Chief Operating Officer; Jim Claussen, our Chief Financial Officer; and Molly Kannan, our Chief Accounting Officer and Corporate Controller. John Orth, our Executive Vice President of Operations, will be joining us for Q&A.

Certain comments on this call contain forward-looking statements within the meaning of the federal securities laws. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, and are not limited to those set forth under risk factors in our Annual Report on Form 10-K for the year ended December 31, 2021. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made and are not guarantees of future performance.

In addition, our remarks today refer to several non-GAAP financial measures that are intended to supplement but not substitute for the most directly comparable GAAP measures. A reconciliation of non-GAAP to the most directly comparable GAAP financial measures is provided in our earnings release filed on Form 8-K yesterday, also available on the Investor Relations section of our website.

I'll now turn the call over to Eddie.

Edward Lehner

Thank you, Jorge. And thank you all for joining us this morning to discuss our first quarter 2022 results. I would like to begin this morning by profoundly thanking all of my 4,000 strong Ryerson colleagues for their contributions to a safe and profitable workplace, our customers, our suppliers and our shareholders for their continued faith in and support of and ever improving Ryerson.

Supply chains, which have yet to fully recover from the ongoing impacts of COVID variants, and now escalating war atrocities overseas were retested again on a global scale with parabolic moves in the price of nickel and upward spikes in energy and agricultural commodity prices. Ryerson managed well through this hyper volatility to deliver its highest ever diluted earnings per share of $4.17 and adjusted diluted earnings of $4.27 per share.