EarningsQ2 2026 Earnings Report
DE:7RY Q2 2026 EPS Results
Actual EPS€0.47
Consensus EPS€0.37
Beat/MissBeat by +€0.10
One Year Ago EPS€0.07
DE:7RY Q2 2026 Revenue Results
Actual Revenue€1.80B
Expected Revenue€1.70B
Beat/MissBeat by +€98.55M
YoY Revenue Growth+71.57%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
DE:7RY Upcoming Earnings
Ryerson Holdings's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:7RY Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights significant operational and commercial progress from the Ryerson–Olympic Steel combination: record revenue and shipments, adjusted EBITDA above guidance, meaningful synergy realization and acceleration, improved same-store metrics, expanding liquidity and falling leverage. These positive developments are tempered by near-term margin and working capital headwinds driven by purchase accounting adjustments, LIFO expense, logistics and commodity volatility, and program pricing lags. Management views many of the challenges as transitional and actionable, with additional synergies and operational steps expected to improve margins and cash flow over time.Company Guidance
Record Quarterly Revenue and Shipments
Net sales of $2.01 billion in Q2 2026 (record quarter), up 28.1% sequentially; total tons shipped just over 800,000, ton shift up 22.6% sequentially.
Strong Same-Store Performance
Same-store revenue of $1.44 billion, up 11.5% sequentially; same-store tons shipped +4% and same-store average selling prices +7.2% sequentially; companywide average selling prices +4.5% sequentially.
Adjusted EBITDA Outperformance
Adjusted EBITDA excluding LIFO of $101 million in Q2, above guidance range ($88–$92 million); Olympic Steel contributed $23.5 million to adjusted EBITDA.
Adjusted Net Income and EPS (Excluding One-Time Items)
Adjusted net income (excluding purchase accounting and one-time items) of $27.6 million, or $0.52 per diluted share; GAAP net income was $15.5 million, or $0.30 per diluted share.
Merger Synergy Progress
Realized approximately $5 million of synergies in Q2; expect $13–$14 million in Q3, implying an annual run rate of $52–$56 million and exceeding the first-year $40 million target; two-year target of $120 million remains intact.
Market Share and Volume Gains
Year-to-date North American ton shift increased 49% vs H1 2025 and 5.8% on a same-store basis, outpacing industry growth of 2.9% (per MSCI); transactional business delivered solid double-digit growth.
Improving Leverage and Liquidity
Leverage decreased from 5.1x to 4.0x sequentially driven by higher trailing 12-month adjusted EBITDA; total global liquidity increased to $757 million from $618 million in Q1.
Operational Efficiency and Inventory Discipline
Days of supply at 73 days (within target 70–75 days); WDSG&A per ton decreased to $398/company (from $404) and to $402 same-store (from $416), demonstrating operating leverage.
Growing Exposure to High-Growth End Markets
Data center and power generation-related sales represented ~7% of Q2 revenues and increased ~30% sequentially, with expectations for continued growth in AI, aerospace, defense, semiconductor, and electrification verticals.
DE:7RY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed