Trasteel's H1 2026 revenue jumps 40% to $1.19B, with EBITDA up 81% ahead of the SPAC merger
SZZL is trading near its 52-week low of $9.21 (14% above the low) on light trading volume (0.2× avg).
Summary
Trasteel reported H1 2026 revenue of $1.19B (+40% YoY) and EBITDA of $50.7M (+81% YoY), beating internal forecasts and supporting FY 2026 projections of $2.1–2.5B revenue and $80–85M EBITDA ahead of its merger with Sizzle II.
Key Events · Earnings and Guidance · SZZL
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H1 2026 Revenue +40% to $1.19B
Trasteel reported total revenue of $1,192.4M for H1 2026, up 40.0% YoY, with gross profit of $105.9M (+36.9%) and operating profit of $37.0M (+153.8%).
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EBITDA Up 81% to $50.7M
H1 2026 EBITDA reached $50.7M versus $28.0M in H1 2025, already representing approximately 73% of the $69.7M recorded for all of FY 2025.
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FY 2026 Projections Reaffirmed
Management reaffirmed FY 2026 projections of $2.1–2.5B revenue, $200M gross profit, and $80–85M EBITDA, stating H1 results are consistent with these targets.
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La Magona Plant Takeover
Trasteel Magona took over operations of the La Magona steel plant in Piombino, Italy on October 1, 2026, with expected production volume exceeding 500,000 tons by end of 2027.
Analysis · SZZL · Real Estate & Construction
Trasteel, the target of Sizzle II's pending business combination, delivered H1 2026 results that beat its internal forecast: revenue rose 40% to $1.19 billion and EBITDA climbed 81% to $50.7 million. Management reaffirmed FY 2026 projections of $2.1–2.5 billion in revenue and $80–85 million in EBITDA, and the H1 EBITDA already represents about 73% of the full-year FY 2025 figure. This matters because Sizzle II carries a going-concern warning and dangerously low working capital — the merger is the only path to avoiding mandatory liquidation by April 2027. Strong target-company performance de-risks the deal and supports the valuation embedded in the pending F-4 registration statement.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.5% of the 1494 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.03%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SZZL was trading at $10.50 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $251.3M. The 52-week trading range was $9.21 to $10.50. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.