Ryerson Exceeds Revenue Targets in First Quarter Post-Merger
Ryerson Holding Corporation reported second-quarter revenue of $2.01 billion, surpassing its own guidance following the February integration of Olympic Steel. The Chicago-based metals distributor saw total shipments rise 22.6% sequentially, signaling early operational momentum despite a challenging, high-friction industrial demand environment.
The company’s performance reflects its first full reporting period since finalizing the Olympic Steel acquisition. Management noted that same-store revenue reached $1.44 billion, bolstered by a 7.2% increase in average selling prices. While broader industrial demand remains uneven—marked by a split between robust data center investment and caution in interest-rate-sensitive sectors—Ryerson successfully realized $5 million in synergies during the quarter.
Looking ahead, the company expects to accelerate these gains, projecting $13 to $14 million in third-quarter synergy benefits. This trajectory puts Ryerson on track to exceed its $40 million first-year run-rate target ahead of schedule. Net income for the quarter stood at $15.5 million, or $0.30 per diluted share, as the firm navigated supply-side constraints and volatile nickel pricing. Debt levels rose to $955 million, a shift management attributed to the higher working capital requirements necessary to support increased revenue generation.
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