Ryerson Beats Q3 Guidance, Declares $0.1875 Dividend, Guides Q4 EBITDA to $100-104M
RYZ sits 55% above its 52-week low of $19.34.
Summary
Ryerson beat Q3 guidance with $32.0 million of net income ($0.61 per diluted share) on $2.18 billion of sales and declared its $0.1875 quarterly dividend. Q4 guidance calls for $100-104 million of Adjusted EBITDA excluding LIFO, with leverage targeted below 3.0x by year-end.
Key Events · Earnings and Guidance · RYZ
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Q3 Results Beat Guidance
Net income of $32.0 million, or $0.61 per diluted share, on sales of $2,177.8 million; Adjusted EBITDA excluding LIFO of $115.0 million topped the $88-92 million guidance range.
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Synergy Target Beaten Early
Realized about $13 million of Q3 synergies, roughly $52 million annualized versus the $40 million first-year target, well ahead of the February 2027 merger anniversary.
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Dividend Declared, Buyback Remains
Board declared $0.1875 per share payable December 17, 2026 to holders of record December 3, 2026; $96.2 million remains on the repurchase authorization through April 30, 2028 after $3.8 million of Q3 buybacks.
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Q4 Guidance Set
Net sales of $1.96-$2.04 billion, net income of $16-$20 million ($0.30-$0.38 per diluted share) and Adjusted EBITDA excluding LIFO of $100-$104 million, with shipments down 6-8% sequentially.
Analysis · RYZ · Trade & Services
Ryerson beat its own third-quarter guidance on shipments, sales and earnings, and hit its first-year Olympic Steel synergy target of $40 million months early at roughly $52 million annualized. The 8-K also declares the unchanged $0.1875 quarterly dividend and sets fourth-quarter guidance of $100-104 million Adjusted EBITDA excluding LIFO, down from $115.0 million this quarter on 6-8% lower shipments. The offset is cash: nine-month operating cash flow was negative $176.0 million as working capital ballooned, pushing total debt to $1,006.1 million and net leverage to 3.2x — management targets below 3.0x by year-end.
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At the time of this filing, RYZ was trading at $30.00 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $19.34 to $32.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.