AcquisitionsMay 6, 2026, 04:24 PM
Ryerson Acquires Olympic Steel for $837.3M; Q1 Net Income $4.5M
AI Summary
Ryerson Holding Corp. completed the acquisition of Olympic Steel for $837.3 million on February 13, 2026, significantly expanding its North American metals service center presence. For Q1 2026, the company reported net income of $4.5 million, a turnaround from a $5.6 million loss in Q1 2025, on net sales of $1,566.5 million, up 37.9% year-over-year. However, net cash used in operating activities increased substantially, and long-term debt nearly doubled due to the acquisition.
Key Highlights
- Acquired Olympic Steel for $837.3 million on February 13, 2026.
- Issued 19.5 million shares ($527.3M) and paid $270.0M cash for the acquisition.
- Q1 2026 net sales increased 37.9% to $1,566.5 million from $1,135.7 million YoY.
- Q1 2026 net income attributable to Ryerson was $4.5 million, up from a $5.6 million loss YoY.
- Basic EPS for Q1 2026 was $0.11, compared to a loss of $0.18 in Q1 2025.
- Operating profit surged to $23.2 million in Q1 2026 from $2.3 million YoY.
- Net cash used in operating activities increased to $179.2 million from $41.2 million YoY.
- Long-term debt nearly doubled to $905.1 million from $461.2 million at year-end 2025.