Ryerson Q4 results pressured by soft demand, higher costs

Ryerson Holding

06/02/2026 11:12

Overview

Metal distributor's preliminary Q4 revenue meets expectations amid soft industrial demand

Adjusted EBITDA for Q4 missed estimates due to higher LIFO expenses

Company anticipates strong Q1 2026 performance with increased bookings

Outlook

Ryerson expects Q1 2026 net sales between $1.26 bln and $1.30 bln

Company expects Q1 2026 net income of $10 to $12 mln before merger fees

Ryerson anticipates Q1 adjusted EBITDA excluding LIFO of $51 to $54 mln

Result Drivers

MATERIAL COSTS - Rising input costs led to compressed gross margins as resale prices remained flat

LIFO EXPENSES - Higher LIFO expenses than anticipated impacted adjusted EBITDA

MERGER FEES - Advisory service fees related to Olympic Steel merger increased expenses

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Meet
$1.10 bln
$1.10 bln (1 Analyst)
Q4 EPS
-$1.18
Q4 Net Income
-$37.90 mln
Q4 Adjusted EBITDA
Miss
$20.40 mln
$29.95 mln (2 Analysts)
Q4 Adjusted Free Cash Flow
$112.70 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the iron & steel peer group is "buy."

Wall Street's median 12-month price target for Ryerson Holding Corp is $24.00, about 19.2% below its February 5 closing price of $29.70

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)