Earnings Releases·Oct 28, 2026, 4:17 PM ET

Ryerson Holding Corporation — Third Quarter 2026 Earnings Summary

Total revenue surged 87.5% YoY to $2.18 billion and net income turned positive at $32.0 million ($0.61/share), significantly outperforming the Q3 2025 loss of $14.8 million; Adjusted EBITDA excluding LIFO reached $115.0 million, beating the $88–$92 million guidance range.
Q4 2026 guidance projects net sales of $1.96–$2.04 billion and Adjusted EBITDA of $100–$104 million, with management expecting shipments to decline 6–8% sequentially due to seasonality while maintaining flat to up 2% average selling prices.
Strategic integration progress exceeded targets with $13 million in realized synergies in Q3 ($52 million annualized run-rate), bringing the combined enterprise closer to the $120 million two-year target, while the company returned $13.6 million to shareholders via dividends and share repurchases.
Net debt decreased to $965.6 million with a leverage ratio of 3.2x, down 0.5x YoY, supported by strong demand from AI infrastructure and power generation sectors despite gross margin contraction from material cost flows.