Ryerson Holding Corp — Form 8-K
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
Ryerson reported Q3 2026 net sales of $2.18B (+8.6% QoQ), net income of $32.0M ($0.61/diluted share), and Adjusted EBITDA excl. LIFO of $115.0M, all exceeding guidance. The Olympic Steel merger (closed Feb 2026) generated ~$13M in Q3 synergy benefits, annualizing to $52M run-rate—exceeding the $40M first-year target ahead of schedule. Olympic Steel contributed $602M revenue and $30.2M EBITDA (excl. LIFO), beating expectations. Total debt rose $51M to $1.01B; net debt $966M at 3.2x leverage (improved from 4.0x prior quarter). Management expects Q4 synergies of $14-15M and targets leverage below 3.0x by year-end. Dividend maintained at $0.1875/share; $3.8M repurchased.
Why this rating
Strong beat on guidance + early synergy milestone achievement in $585M market-cap company; material but not transformational—working capital headwinds offset gains.
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