#United States #Chicago #industrial metals #Ryerson Holding #Olympic Steel

Ryerson Holding Corporation Reports Strong Q3 Results for 2026

Overview: On October 28, 2026, Ryerson Holding Corporation, publicly traded on the NYSE under the symbol RYZ, announced its financial results for the third quarter of the year, ending on September 30, 2026. This leading industrial metals processor and distributor witnessed remarkable growth in revenue, net income, and operational efficiency, outpacing its initial forecasts.

Financial Highlights: Ryerson reported total revenue of $2.18 billion for the third quarter, an increase of 8.6% compared to the previous quarter. The company shipped 814,000 tons of metal, representing a 1.2% growth, while average selling prices surged by 7.2%, now averaging $2,675 per ton. Excluding contributions from Olympic Steel, which accounted for $602 million of revenue, same-store sales still reached $1.58 billion, driven by improved shipping volumes and price performance. The success of these results demonstrates Ryerson's effective management and operational strategies, which led to market share advancements and enhanced productivity metrics.

Net Income and Earnings Performance: Ryerson's net income reached $32 million, translating to earnings of $0.61 per diluted share, a significant improvement from a net income of $15.5 million in the previous quarter and a net loss during the same period in 2025. Adjusted EBITDA, excluding LIFO expenses, also exceeded expectations, coming in at $115 million against an anticipated range of $88 to $92 million. The contributions from the acquisition of Olympic Steel, which provided $30.2 million in adjusted EBITDA, have further bolstered these financial results.

Achievements in Operational Synergies: The quarterly performance not only highlights robust financial outcomes but also the successful integration and synergy realization from the Olympic Steel merger. Ryerson achieved approximately $13 million in synergy benefits during the quarter, bringing its annualized synergies to $52 million, exceeding the first-year target of $40 million well ahead of schedule. The management emphasizes that collaborative efforts across the organization have played a crucial role in driving efficiencies and streamlining operations.

Customer Demand and Inventory Management: Reflecting upon market dynamics, the company noted resilient demand across its sectors, underscored by lower industry inventories and extended mill lead times. Ryerson's strategic positioning and enhanced inventory visibility through improved operational scale have facilitated better resource accessibility, boosting customer satisfaction further.

Looking Ahead: In its outlook for the fourth quarter of 2026, Ryerson anticipates a sequential shipment decline of 6% to 8%, driven by seasonal factors, with projected revenues in the range of $1.96 billion to $2.04 billion. Management expects net income generation to fall between $16 to $20 million, iterating that despite the anticipated decline, the fundamental strength of the business remains intact. Ryerson plans to continue its focus on meeting customer needs while further enhancing operational efficiencies.

Conclusion: Ryerson Holding Corporation's third-quarter financial report not only showcased exceptional growth and performance metrics but also set a positive tone for the company's future trajectory. With strong customer demand and enhanced operational synergies following the Olympic Steel merger, Ryerson is well-positioned to navigate upcoming market conditions while aiming for sustained growth and profitability in the industrial metals sector.