Key Highlights

  • Consensus EPS of 0.43 compares with second-quarter diluted EPS of 0.30, against 0.06 a year earlier.
  • Consensus revenue of USD 1.88 billion compares with second-quarter revenue of USD 2,006.2 million, against USD 1,169.3 million.
  • Average selling prices rose 4.5% and shipments rose 22.6% in the second quarter compared with the first quarter.
  • Olympic Steel was added via merger on Feb. 13, 2026, and long-term debt rose to USD 952.6 million.

Ryerson (NYSE:RYZ) reports third-quarter results on Wednesday, Oct. 28, after the market closes. Consensus stands at EPS of 0.43 on revenue of USD 1.88 billion, and the company has a market capitalization of USD 1.45 billion.

Ryerson is a metals service center operating in the United States, Canada and Mexico, and it added Olympic Steel via merger on Feb. 13, 2026. Second-quarter revenue was USD 2,006.2 million against USD 1,169.3 million, and net income attributable to Ryerson was USD 15.5 million against USD 1.9 million.

Estimates Against the Last Reported Quarter

The EPS estimate of 0.43 is above the second-quarter diluted EPS of 0.30, which compared with 0.06 a year earlier. The estimates table does not state its EPS basis. The revenue estimate of USD 1.88 billion is below the USD 2,006.2 million reported, which compared with USD 1,169.3 million.

For the first six months, diluted EPS was 0.42 and adjusted diluted EPS was 0.85, with total revenues of USD 3.6 billion and a gross margin of 18.0%. The filing carries no third-quarter figures.

What the Filing Gives and What the Sources Leave Open

The sources supplied include no earnings call transcript or published guidance, so there are no management ranges to set against the estimates. The filing describes the metals service center industry as cyclical, volatile in demand and pricing, and difficult to predict.

The filing notes that the first-quarter purchase price allocation for the Olympic Steel merger was based on preliminary estimates and was refined in the second quarter. It states that cash used by operating activities for the first six months was USD 158 million, USD 156 million higher than a year earlier.

Pricing, Shipments and End-Market Detail

Average selling prices increased 4.5% and shipments increased 22.6% from the first quarter, or 4.0% excluding Olympic Steel. The filing attributes price increases to U.S. industrial metals prices reaching multi-year highs, with aluminum prices and Midwest Premiums also rising.

North American same-store volumes rose 5.8% in the first half against a 2.9% increase in service center volumes reported by an industry association. Growth was led by fabrication and welding, while commercial transportation offset part of the year-over-year growth.

Income Statement Lines, Debt and Cash

Cost of goods sold was USD 1,651.0 million against USD 959.9 million, and gross profit was USD 355.2 million against USD 209.4 million. Operating income was USD 34.4 million against USD 5.8 million, and income before income taxes was USD 22.0 million against a loss of USD 6.3 million.

Long-term debt was USD 952.6 million against USD 461.2 million at year end, and inventories were USD 1,193.7 million against USD 648.3 million. Cash and cash equivalents were USD 41.9 million. The company expects about USD 48 million of interest on the credit facility over the next twelve months. The estimates table lists a market capitalization of USD 1.45 billion.

Markers for the Release

Reported EPS against 0.43 and revenue against USD 1.88 billion are the headline comparisons. Other markers are shipments, selling prices and the effect of the Olympic Steel merger.