Ryerson Beats Q3 Guidance, Hits $52M Synergy Run-Rate Months Early
RYZ sits 55% above its 52-week low of $19.34.
Summary
Ryerson beat across the board in Q3: revenue of $2.18 billion, net income of $32.0 million ($0.61 per diluted share), and Adjusted EBITDA excluding LIFO of $115.0 million versus guidance of $88-92 million. Olympic Steel, folded in this February, contributed $602 million of revenue and $30.2 million of Adjusted EBITDA, also above plan. Synergies reached roughly $52 million annualized, blowing past the $40 million first-year target well ahead of the February 2027 merger anniversary; management still targets $120 million over two years. The company returned $13.6 million to shareholders, including $3.8 million of buybacks at an average $23.85, below book value. Q4 guidance calls for sales of $1.96-2.04 billion, net income of $16 million to $20 million, EPS of 30 cents to 38 cents and Adjusted EBITDA excluding LIFO of $100-104 million, with shipments down 6-8% on seasonality and three fewer business days, and average selling prices expected to be flat to up by 2% quarter-over-quarter. The earnings call is October 29 at 10 a.m. ET.
At the time of this announcement, RYZ was trading at $30.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $19.34 to $32.00. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: PR Newswire.