Ryerson Holding: Olympic Steel Changes The Earnings Algorithm
Ryerson is transforming after its Olympic Steel merger, focusing on network productivity, operating leverage, and synergy realization. Q2 2026 revenue rose 28.1% sequentially with EBITDA (ex-LIFO) of $101M, and early synergy capture exceeded initial targets; management aims for $120M in annualized synergies by early 2028.
Why it matters — A RYZ watcher would care because the post-merger synergy gains and rising earnings base signal a potentially more structurally stable performance beyond the traditional cyclical distribution model.