Ryerson Posts $2.01B in Q2 Revenue, Guides to $88–92M Q3 Adj. EBITDA, and Declares $0.1875 Dividend
RYZ sits 49% above its 52-week low of $19.34.
Summary
Ryerson reported strong Q2 2026 results with revenue of $2.01B and Adj. EBITDA of $101M, exceeding guidance. The company raised its synergy outlook, issued Q3 guidance for Adj. EBITDA of $88–92M, and declared a $0.1875 quarterly dividend.
Key Events · Earnings and Guidance · RYZ
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Q2 Revenue and Earnings Beat
Revenue of $2.01 billion exceeded guidance, with net income of $15.5 million ($0.30 per diluted share) and Adjusted EBITDA excluding LIFO of $101.0 million, up 49.9% sequentially.
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Synergy Outlook Raised
Realized $5 million in Q2 synergies; expects $13–14 million in Q3, or $52–56 million annualized run-rate, exceeding the $40 million first-year target ahead of schedule.
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Q3 Guidance Issued
Expects net sales of $1.87–1.95 billion, Adjusted EBITDA excluding LIFO of $88–92 million, and diluted EPS of $0.37–0.40, reflecting normal seasonal volume decline of 3–5%.
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Quarterly Dividend Declared
Board declared a quarterly cash dividend of $0.1875 per share, payable September 17, 2026 to shareholders of record September 3, 2026.
Analysis · RYZ · Trade & Services
In its first full quarter after merging with Olympic Steel, Ryerson delivered revenue of $2.01 billion—topping guidance—alongside net income of $15.5 million and Adjusted EBITDA excluding LIFO of $101 million. The company lifted its synergy forecast and now expects to beat its $40 million first-year annual run-rate target ahead of schedule, with Q3 synergies projected at $13–14 million. Looking ahead, Q3 guidance calls for net sales of $1.87–1.95 billion and Adjusted EBITDA of $88–92 million, reflecting normal seasonal volume declines but supported by firm pricing. The Board also declared a $0.1875 quarterly dividend, maintaining the payout. These results and the updated outlook offer a constructive read on merger integration and the demand environment, though leverage remains elevated at 4.0x net debt to TTM Adjusted EBITDA.
At the time of this filing, RYZ was trading at $28.79 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.