Russel profits fall on weak demand, lower prices
Oct 31, 2012 | 01:55 PM
| Michael Cowden
Tags
Russel Metals,
earnings report,
margin pressure,
Brian Hedges,
Michael Cowden
CHICAGO — Russel Metals Inc.’s profits narrowed in the third quarter as margins were squeezed by global uncertainty and weaker demand.
"All of our segments experienced margin pressure in the third quarter as steel prices declined due to a lack of demand," Russel Metals president and chief executive officer Brian Hedges said in a statement released with earnings data Tuesday. With the exception of its energy segment, all of Russel’s business units also were impacted by lower shipment volumes, Hedges....
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