Ryerson Holding Corporation (RYI)

Donald R. McNeeley Honored with MSCI Lifetime Achievement AwardMarch 18, 2026 4:32 PM
PR Newswire (US)

CHICAGO, March 18, 2026 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYZ), a leading value-added processor and distributor of industrial metals, congratulates Donald R. McNeeley, Ph.D., on being honored with the Metals Service Center Institute's (MSCI) Lifetime Achievement Award, the organization's highest honor.







Established in 2003, the MSCI Lifetime Achievement Award recognizes individuals whose careers reflect sustained leadership, integrity, and service within the metals industry. The award was presented to Dr. McNeeley at the organization's annual meeting in San Antonio on March 17.Dr. McNeeley previously served as CEO of Chicago Tube & Iron, which joined the Ryerson Family of Companies through the recent Olympic Steel and Ryerson merger."Don has had a meaningful and lasting impact on the metals industry," said Michael D. Siegal, Chairman of Ryerson's Board of Directors and previous MSCI Lifetime Achievement Award recipient. "Congratulations to Don on this outstanding and well-earned recognition. His leadership and commitment to the industry have helped shape both the MSCI and the broader metals community, and this award reflects the breadth of his contributions over many years."In addition to his industry leadership, Dr. McNeeley has maintained a strong focus on education and thought leadership. He is a clinical professor at Northwestern University, where he teaches in the graduate program at the McCormick School of Engineering and Applied Mathematics, and he authors a quarterly column for The Wholesaler Magazine examining political, societal, and economic issues affecting the industrial sector.His professional achievements have been closely aligned with his commitment to philanthropy. As Chairman of MSCI, he introduced the Chapter Scholarship Program, which has provided more than $13 million in financial assistance to the children of industrial metals company employees."Don has approached philanthropy with the same thoughtfulness and long-term perspective that has defined his professional career," said Richard T. Marabito, President and Chief Operating Officer. "His support of education and philanthropy has created opportunities for individuals and families across the metals industry and beyond. These efforts reflect his genuine commitment to making a lasting difference in the communities we serve."Dr. McNeeley has a Doctor of Philosophy (PhD) in Economics, with advanced graduate training in business administration and management, including a Master of Business Administration (MBA) and Advanced Management Program (AMP) from George Williams College and Harvard Business School, a Master of Science (MS) in Management and Organizational Behavior from Benedictine University, and a Bachelor of Arts (BA) in Business Administration from the University of Wisconsin.About RyersonRyerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 6,400 employees in approximately 160 locations. Visit Ryerson at www.ryerson.com.



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Original: Donald R. McNeeley Honored with MSCI Lifetime Achievement Award

Ryerson Reports Fourth Quarter and Full-Year 2025 ResultsFebruary 19, 2026 4:26 PM
PR Newswire (US)

Successfully completed merger with Olympic Steel, extended and expanded credit facility, and generated fourth quarter top line metrics within guidance range while exceeding cash flow and leverage targets for the quarterCHICAGO, Feb. 19, 2026 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results for the fourth quarter and full year ended December 31, 2025.







Highlights: Generated fourth quarter revenue of $1.10 billion, with tons shipped down 4.9% and average selling prices flat compared to the prior quarter, in-line with guidance expectations given normal seasonality patterns and contractionary industrial demand conditionsEnded the fourth quarter with debt of $463 million and net debt1 of $436 million, compared to $500 million and $470 million, respectively, as of the end of the third quarterCompleted merger with Olympic Steel subsequent to quarter-end, increasing Ryerson's presence as North America's second-largest metals service center, enabling a further enhanced customer experience, and unlocking a projected $120 million in annual run-rate synergies to be realized over the next two yearsAlso subsequent to quarter-end, the Company successfully extended the maturity of its credit facility and expanded its capacity from $1.3 billion to $1.8 billion, providing financial stability and flexibility for growth opportunities for the combined companiesDeclared a first quarter 2026 dividend of $0.1875 per share payable to shareholders of record as of March 5, 2026 A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included below in this news release.$ in millions, except tons (in thousands), average selling prices, and earnings per share


















Financial Highlights:
Q4 2025
Q3 2025
Q4 2024
QoQ
YoY
2025
2024
YoY
















Revenue
$1,104.8
$1,161.5
$1,007.4
(4.9) %
9.7 %
$4,571.3
$4,598.7
(0.6) %Tons shipped
461
485
447
(4.9) %
3.1 %
1,947
1,937
0.5 %Average selling price/ton
$2,397
$2,395
$2,254
0.1 %
6.3 %
$2,348
$2,374
(1.1) %Gross margin
15.3 %
17.2 %
19.0 %
-190 bps
-370 bps
17.1 %
18.1 %
-100 bpsGross margin, excl. LIFO(2)
17.3 %
18.3 %
16.4 %
-100 bps
90 bps
18.3 %
17.0 %
130 bpsWarehousing, delivery, selling, general, and
administrative expenses
$205.3
$200.4
$188.5
2.4 %
8.9 %
$809.6
$801.2
1.0 %As a percentage of revenue
18.6 %
17.3 %
18.7 %
130 bps
-10 bps
17.7 %
17.4 %
30 bpsNet loss attributable to Ryerson Holding Corporation
$(37.9)
$(14.8)
$(4.3)
(156.1) %
781.4 %
$(56.4)
$(8.6)
555.8 %Diluted loss per share
$(1.18)
$(0.46)
$(0.13)
$(0.72)
$(1.05)
$(1.76)
$(0.26)
$(1.50)Adjusted diluted loss per share
$(1.01)
$(0.46)
$(0.14)
$(0.55)
$(0.87)
$(1.56)
$(0.18)
$(1.38)Adj. EBITDA, excl. LIFO
$20.4
$40.3
$10.3
(49.4) %
98.1 %
$138.5
$114.1
21.4 %Adj. EBITDA, excl. LIFO margin
1.8 %
3.5 %
1.0 %
-170 bps
80 bps
3.0 %
2.5 %
50 bps
















Balance Sheet and Cash Flow Highlights:















Total debt
$463.1
$499.7
$467.4
(7.3) %
(0.9) %
$463.1
$467.4
(0.9) %Cash and cash equivalents
$26.9
$29.8
$27.7
(9.7) %
(2.9) %
$26.9
$27.7
(2.9) %Net debt
$436.2
$469.9
$439.7
(7.2) %
(0.8) %
$436.2
$439.7
(0.8) %Net debt / LTM Adj. EBITDA, excl. LIFO
3.1x
3.7x
3.9x
(0.6x)
(0.8x)
3.1x
3.9x
(0.8x)Cash conversion cycle (days)
68.3
68.2
78.6
0.1
(10.3)
66.9
76.7
(9.8)Net cash provided by (used in) operating activities
$112.7
$(8.3)
$92.2
$121.0
$20.5
$87.0
$204.9
$(117.9)Management Commentary
Eddie Lehner, Ryerson's Chief Executive Officer & Director, said, "I would first like to thank my Ryerson colleagues for vigilantly navigating a difficult year in the industrial metals and manufacturing space. Commodity price asynchronous volatility combined with an ongoing contractionary demand backdrop, especially among our OEM program customers, characterized the year in full and the fourth quarter. On February 13, 2026, we successfully closed our merger with Olympic Steel and I want to welcome all of my Olympic Steel colleagues as we start work on realizing the full potential of what our combined company can offer to our customers and to all stakeholders. During the fourth quarter, supply-side mill prices rose faster than average selling prices while buyers continued to resist price increases in the distribution channel as demand remained restrained while contract price resets lagged and even spot transactional pricing stagnated. Consequently, margin compression was more acute in the quarter than anticipated even though we met top line guidance and exceeded our net leverage and cash flow targets. On the brighter side, in the first quarter of 2026, we are seeing price increases filter into a more favorable demand environment as quote and order activity are currently tracking well ahead of year-over-year and sequential levels. We therefore anticipate realizing gross margin recovery as well as improved operating leverage and operating income in the first quarter of 2026.""We could not be more energized and optimistic about our recently completed merger with Olympic Steel and what this union will mean for our customers and shareholders," continued Lehner. "Not only do we have a clear, achievable runway for further improving the customer experience and generating significant annual run-rate synergies, but we also believe the timing of this combination will create a sustainable competitive advantage as our combined company is well-positioned to benefit from an inflection in U.S. manufacturing demand and the combined investments we have both made over the past four years."Fourth Quarter Results
Ryerson generated net sales of $1.10 billion in the fourth quarter of 2025, an increase of 9.7% compared to the year-ago period with average selling prices 6.3% higher and tons shipped 3.1% higher. Sequentially, net sales decreased by 4.9%, driven by decreased tons shipped as demand conditions in the fourth quarter reflected normal seasonality patterns as well as continued manufacturing malaise. Average selling prices were relatively consistent (+0.1%) compared to the third quarter as increases in material input costs were not yet realized in downstream markets by the end of the quarter.  Increases in costs of goods sold therefore outpaced average selling price growth and resulted in sequential gross margin compression of 190 basis points to 15.3%, compared to 17.2% for the third quarter of 2025. LIFO expense for the fourth quarter was also greater than anticipated as we recorded expense of $22.5 million compared to $13.2 million in the prior quarter. Excluding the impact of LIFO, gross margin contracted by 100 basis points to 17.3% in the fourth quarter of 2025 compared to 18.3% in the third quarter.Fourth quarter warehousing, delivery, selling, general, and administrative expenses of $205.3 million represents an increase of $4.9 million, or 2.4% compared to the third quarter of 2025. The quarter-over-quarter expense increase was driven by advisory service fees related to the Olympic Steel merger, which totaled $7.8 million. Compared to the prior year period, fourth quarter 2025 warehousing, delivery, selling, general, and administrative expenses increased by $16.8 million, or 8.9%. As a percentage of sales, however, fourth quarter 2025 warehousing, delivery, selling, general, and administrative expenses declined marginally compared to the year-ago period, from 18.7% to 18.6%.Net loss attributable to Ryerson Holding Corporation for the fourth quarter of 2025 was $37.9 million, or $1.18 per diluted share, compared to net loss of $14.8 million, or $0.46 per diluted share, for the previous quarter, and net loss of $4.3 million, or $0.13 per diluted share, for the fourth quarter of 2024. Ryerson generated Adjusted EBITDA, excluding LIFO of $20.4 million in the fourth quarter of 2025 compared to $40.3 million in the third quarter of 2025, and $10.3 million in the year-ago period. Full-Year Results
Ryerson generated net sales of $4.6 billion for the full-year 2025, a decrease of 0.6% compared to full-year 2024 sales. Revenue performance for the year was influenced by 1.1% lower average selling prices which were partially offset by slightly higher (+0.5%) tons shipped.Gross margin contracted by 100 basis points for the full-year 2025 to 17.1% compared to 18.1% for 2024 as costs of goods sold increased relative to average selling prices. Driven by increases in metals commodities prices, increases in inventory costs over the year generated LIFO expense of $55.7 million in 2025, a reversal compared to the LIFO income of $52.5 million recorded for 2024. Excluding the impact of LIFO, full-year 2025 gross margin expanded 130 basis points to 18.3% compared with 17.0% for 2024.Warehousing, delivery, selling, general, and administrative expenses increased 1.0%, or $8.4 million, to $809.6 million for the full-year 2025, compared to $801.2 million for 2024, driven by $7.8 million in advisory service fees related to the Olympic Steel merger and inflationary increases in transportation and logistics expenses as well as in compensation and benefits.Net Loss Attributable to Ryerson Holding Corporation for the full-year 2025 was $56.4 million, or $1.76 per diluted share, compared to net loss of $8.6 million, or $0.26 per diluted share, in 2024. Ryerson generated Adjusted EBITDA, excluding LIFO of $138.5 million in 2025 compared to $114.1 million in 2024.Liquidity & Debt Management
In the fourth quarter, Ryerson generated cash from operating activities of $112.7 million as the seasonal fourth quarter working capital release well outpaced the net loss generated in the quarter. This compares to a use of cash from operating activities of $8.3 million in the third quarter. The Company ended the fourth quarter of 2025 with debt of $463 million and net debt of $436 million, a sequential decrease of $37 million and $34 million, respectively, compared to the third quarter of 2025.  For the full year of 2025, Ryerson generated $87 million in cash from operating activities compared to $205 million for the full year of 2024. Ryerson also reduced its leverage ratio from 3.9x for 2024 to 3.1x for 2025. The Company's global liquidity, composed of cash and cash equivalents and availability on its revolving credit facilities, was $502 million as of December 31, 2025, compared to $521 million as of September 30, 2025.Extension & Expansion of Credit Facility
On February 13, 2026, the Company extended the maturity of its revolving credit facility and expanded its capacity from $1.3 billion to $1.8 billion. The Company expects to continue to use the facility for general corporate purposes including working capital needs, capital expenditures, funding of possible acquisitions, and satisfaction of other obligations of the Company. The revolving credit facility is secured primarily by the inventory and accounts receivable of the company's U.S. and Canadian operating subsidiaries.Jim Claussen, Ryerson's Chief Financial Officer, said, "The successful amendment and extension our revolving credit facility provides us with continued financial stability as we perform our normal business operations while also providing us with the flexibility to pursue growth opportunities such as those enabled by the recent Olympic Steel merger. I would like to thank the Ryerson team for all of their hard work during this exciting and pivotal time in the Company's history and also recognize the achievements that have led to our vastly improved capital structure which now underpins our combined future potential."Bank of America, N.A. is the Administrative Agent and Collateral Agent and BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association are Joint Lead Arrangers and Joint Bookrunners.Shareholder Return ActivityDividends. On February 13, 2026, the Board of Directors declared a quarterly cash dividend of $0.1875 per share of common stock, payable on March 19, 2026, to stockholders of record as of March 5, 2026. During the fourth quarter of 2025, Ryerson's quarterly dividend amounted to a cash return of $6.1 million.Share Repurchases and Authorization. Ryerson did not repurchase shares during the fourth quarter of 2025. As of December 31, 2025, $38.4 million remained under the existing authorization.Olympic Steel Merger
On February 13, 2026, having fulfilled all of the required closing conditions, including approval by stockholders of both companies, Ryerson and Olympic Steel announced the successful closure of their merger. Under the terms of the merger agreement, shareholders of Olympic Steel common stock received shares of Ryerson's common stock at an exchange ratio of 1.7105 and now own approximately 37% of the combined company. Together, Ryerson and Olympic Steel now have a stronger market presence with an approximately 160-facility footprint, enhanced processing capabilities, and a greater breadth of product offerings to provide its customers. The transaction is expected to generate approximately $120 million in annual run-rate synergies by early 2028 via procurement scale, efficiency gains, commercial enhancement, and network optimization strategies.Outlook Commentary
The Company (Ryerson only, see Olympic Steel stub period guidance in the next paragraph) notes relatively strong customer activity in the first half of the quarter relative to the past several years and expects same-store customer shipments to increase by 13% to 15% with average selling prices expected to be flat to up by 2% quarter-over-quarter. Net sales are therefore expected to be in the range of $1.26 billion to $1.30 billion. Ryerson anticipates gross margin expansion in the first quarter as fourth quarter inventory cost increases become gradually realized in first quarter average selling prices. It also expects to realize improved year-over-year and sequential operating leverage as demand conditions improve, leading to net income generation of $10 to $12 million before any merger-related fees. The Company expects to record LIFO expense between $6 and $8 million and to generate Adjusted EBITDA, excluding LIFO in the range of $51 to $54 million. Ryerson also anticipates using cash in the first quarter of 2026 to support working capital given the guided revenue increase and merger closing related outlays while continuing to prioritize net leverage reductions toward our targeted range as the year progresses.The Olympic Steel business is expected to experience similar market dynamics and therefore generate in the last six weeks of the quarter accretive revenue in the range of $260 to $280 million and Adjusted EBITDA, excluding LIFO in the range of $12 to $13 million. Altogether, the combined Company anticipates reporting first quarter 2026 revenue in the range of $1.52 to $1.58 billion and Adjusted EBITDA, excluding LIFO attainment between $63 and $67 million.Fourth Quarter 2025 Major Product Metrics








Net Sales (millions)

Q4 2025

Q3 2025


Q4 2024

Quarter-over-quarterYear-over-year













Carbon Steel$538
$584

$510


(7.9)%

5.5%
Aluminum$282
$287

$236


(1.7)%

19.5%
Stainless Steel$269
$271

$248


(0.7)%

8.5%



















Tons Shipped (thousands)

Q4 2025

Q3 2025


Q4 2024

Quarter-over-quarterYear-over-year













Carbon Steel
361

381


353


(5.2)%

2.3%
Aluminum
42

45


42


(6.7)%

-

Stainless Steel
56

57



52


(1.8)%

6.9%



















Average Selling Prices (per ton)

Q4 2025

Q3 2025


Q4 2024

Quarter-over-quarterYear-over-year













Carbon Steel$
1,490
$
1,533

$
1,445


(2.8)%

3.2%
Aluminum$
6,714
$
6,378

$
5,619


5.3%

19.5%
Stainless Steel$
4,804
$
4,754

$
4,733


1.0%

1.5%








































































Full Year 2025 Major Product Metrics
















Net Sales (millions)







FY 2025


FY 2024
Year-over-year




















Carbon Steel

$
2,263

$
2,383


(5.0)%



Aluminum


$
1,150

$
1,042


10.4%



Stainless Steel

$
1,092

$
1,107


(1.4)%


























Tons Shipped (thousands)







FY 2025


FY 2024
Year-over-year




















Carbon Steel



1,522



1,516


0.4%



Aluminum



185


185


-




Stainless Steel


234



230


1.6%


























Average Selling Prices (per ton)







FY 2025


FY 2024
Year-over-year




















Carbon Steel

$
1,487

$
1,572


(5.4)%



Aluminum


$
6,216

$
5,632


10.4%



Stainless Steel

$
4,667

$
4,805


(2.9)%



Earnings Call Information
Ryerson will host a conference call to discuss fourth quarter and full-year 2025 financial results for the period ended December 31, 2025, on Friday, February 20, 2026, at 10 a.m. Eastern Time. The live online broadcast will be available on the Company's investor relations website, ir.ryerson.com. A replay will be available at the same website for 90 days. Ryerson will file its form 10-K for the year ended December 31, 2025 prior to market open on February 23, 2026.  About Ryerson
Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson, together with Olympic Steel, has approximately 6,400 employees and 160 locations. Visit Ryerson at www.ryerson.com.Notes:
1Net debt is defined as long term debt plus short term debt less cash and cash equivalents and excludes restricted cash
2For EBITDA, Adjusted EBITDA, Adjusted EBITDA, excluding LIFO and gross margin, excluding LIFO please see Schedule 2 Legal Disclaimer
The contents herein are provided for general information purposes only and do not constitute an offer to sell or purchase, or a solicitation of an offer to purchase, any security ("Security") of the Company or its affiliates ("Ryerson") in any jurisdiction. Ryerson does not intend to solicit, and is not soliciting, any action with respect to any Security or any other contractual relationship with Ryerson. Nothing in this release, individually or taken in the aggregate, constitutes an offer of securities for sale or purchase, or a solicitation of an offer to purchase, any Security in the United States, or to U.S. persons, or in any other jurisdiction in which such an offer or solicitation is unlawful.Safe Harbor Provision
This communication contains certain "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may be identified by words such as "anticipates," "believes," "could," "continue," "estimate," "expects," "intends," "will," "should," "may," "plan," "predict," "project," "would" and similar expressions. Forward-looking statements are not statements of historical fact and reflect Ryerson's current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the merger involving Ryerson and Olympic Steel, including future financial and operating results, Ryerson's plans, objectives, expectations, and intentions, and other statements that are not historical facts. No assurances can be given that the forward-looking statements contained in this communication will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates, and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation,  the risk that the businesses will not be integrated successfully or will be more costly or difficult than expected; the risk that the cost savings and any other synergies from the proposed transaction may not be fully realized or may take longer to realize than expected, or that the transaction may be less accretive than expected; the risk that the merger will not provide shareholders with increased earnings potential; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the transaction; the risk of adverse reactions or changes to business or employee relationships resulting from the merger; adverse economic conditions; highly cyclical fluctuations resulting from, among others, seasonality, market uncertainty, and costs of goods sold; the Company's ability to remain competitive and maintain market share in the highly competitive and fragmented metals distribution industry; managing the costs of purchased metals relative to the price at which each company sells its products during periods of rapid price escalation or deflation; customer, supplier, and competitor consolidation, bankruptcy, or insolvency; the impairment of goodwill that could result from, among other things, volatility in the markets in which each company operates; the impact of geopolitical events; future funding for postretirement employee benefits may require substantial payments from current cash flow; the regulatory and other operational risks associated with our operations located outside of the United States; currency rate fluctuations; the adequacy of the Company's efforts to mitigate cyber security risks and threats; reduced production schedules, layoffs, or work stoppages by each company's own, its suppliers', or customers' personnel;  any underfunding of certain employee retirement benefit plans and the actual costs exceeding current estimates; prolonged disruption of the Company's processing centers; failure to manage potential conflicts of interest between or among customers or suppliers of each company; unanticipated changes to, or any inability to hire and retain key personnel at either company; currency exchange rate fluctuations; the incurrence of substantial costs of liabilities to comply with, or as a result of, violations of environmental laws; the risk of product liability claims; the Company's indebtedness or covenants in the instruments governing such indebtedness; the influence of a single investor group over the company's policies and procedures; and other risks inherent in Ryerson's business and other factors described in Ryerson's filings with the Securities and Exchange Commission (the "SEC"). Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Ryerson. If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.Forward-looking statements are based on the estimates and opinions of management as of the date of this communication; subsequent events and developments may cause their assessments to change. Ryerson does not undertake any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law and they specifically disclaim any obligation to do so. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES
Selected Income and Cash Flow Data - Unaudited
(Dollars and Shares in Millions, except Per Share and Per Ton Data)
























Third








Fourth Quarter

Quarter

Year Ended December 31,


2025

2024

2025

2025

2024
















NET SALES
$1,104.8

$1,007.4

$1,161.5

$4,571.3

$4,598.7
Cost of materials sold

935.9


816.3


962.0


3,789.1


3,764.5
Gross profit

168.9


191.1


199.5


782.2


834.2
Warehousing, delivery, selling, general, and administrative

205.3


188.5


200.4


809.6


801.2
Gain on insurance settlement

—


(0.3)


—


—


(1.6)
Impairment charges on assets

1.5


—


0.1


3.4


—
Restructuring and other charges

—


0.3


—


—


3.1
OPERATING PROFIT (LOSS)

(37.9)


2.6


(1.0)


(30.8)


31.5
Other income and (expense), net

(0.3)


2.7


0.8


(1.5)


4.1
Interest and other expense on debt

(9.5)


(10.1)


(10.1)


(38.9)


(43.0)
LOSS BEFORE INCOME TAXES

(47.7)


(4.8)


(10.3)


(71.2)


(7.4)
Provision (benefit) for income taxes

(10.2)


(0.6)


4.1


(16.1)


(0.1)
NET LOSS

(37.5)


(4.2)


(14.4)


(55.1)


(7.3)
Less: Net income attributable to noncontrolling interest

0.4


0.1


0.4


1.3


1.3
NET LOSS ATTRIBUTABLE TO RYERSON HOLDING CORPORATION
$(37.9)

$(4.3)

$(14.8)

$(56.4)

$(8.6)
LOSS PER SHARE














Basic
$(1.18)

$(0.13)

$(0.46)

$(1.76)

$(0.26)
Diluted
$(1.18)

$(0.13)

$(0.46)

$(1.76)

$(0.26)
Shares outstanding - basic

32.2


31.8


32.2


32.1


33.2
Shares outstanding - diluted

32.2


31.8


32.2


32.1


33.2
















Dividends declared per share
$0.1875

$0.1875

$0.1875

$0.7500

$0.7500
















Supplemental Data :














Tons shipped  (000)

461


447


485


1,947


1,937
Shipping days

61


61


64


252


253
Average selling price/ton
$2,397

$2,254

$2,395

$2,348

$2,374
Gross profit/ton

366


428


411


402


431
Operating profit (loss)/ton

(82)


6


(2)


(16)


16
LIFO expense (income) per ton

49


(57)


27


29


(27)
LIFO expense (income)

22.5


(25.4)


13.2


55.7


(52.5)
Depreciation and amortization expense

20.9


22.7


20.2


79.7


77.6
Cash flow provided by (used in) operating activities

112.7


92.2


(8.3)


87.0


204.9
Capital expenditures

(20.8)


(23.5)


(12.8)


(51.5)


(99.6)
















See Schedule 1 for Condensed Consolidated Balance Sheets









See Schedule 2 for EBITDA and Adjusted EBITDA reconciliation









See Schedule 3 for Adjusted EPS reconciliation









See Schedule 4 for Free Cash Flow reconciliation









See Schedule 5 for First Quarter 2026 Guidance reconciliation









 Schedule 1
RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES
Condensed Consolidated Balance Sheets
(In millions, except shares)









December 31,

December 31,


2025

2024
Assets





Current assets:





Cash and cash equivalents
$26.9

$27.7
Restricted cash

0.9


1.6
Receivables, less provisions of $2.7 at December 31, 2025 and $2.5 at December 31, 2024

460.8


425.6
Inventories

648.3


684.6
Prepaid expenses and other current assets

85.9


68.1
Total current assets

1,222.8


1,207.6
Property, plant, and equipment, at cost

1,179.8


1,152.0
Less: accumulated depreciation

570.0


515.3
Property, plant, and equipment, net

609.8


636.7
Operating lease assets

323.9


344.6
Other intangible assets

58.2


68.3
Goodwill

161.5


161.8
Deferred charges and other assets

28.5


20.5
Total assets
$2,404.7

$2,439.5
Liabilities





Current liabilities:





Accounts payable
$516.0

$440.8
Salaries, wages, and commissions

40.5


35.7
Other accrued liabilities

72.0


67.1
Short-term debt

1.9


0.7
Current portion of operating lease liabilities

34.0


32.1
Current portion of deferred employee benefits

3.7


3.7
Total current liabilities

668.1


580.1
Long-term debt

461.2


466.7
Deferred employee benefits

70.2


90.9
Noncurrent operating lease liabilities

318.6


334.6
Deferred income taxes

110.2


129.0
Other noncurrent liabilities

12.8


13.7
Total liabilities

1,641.1


1,615.0
Commitments and contingencies





Equity





Ryerson Holding Corporation stockholders' equity:





Preferred stock, $0.01 par value; 7,000,000 shares authorized and no shares issued at
December 31, 2025 and December 31, 2024

—


—
Common stock, $0.01 par value; 100,000,000 shares authorized; 40,373,512 and
39,899,093 shares issued at December 31, 2025 and December 31, 2024, respectively

0.4


0.4
Capital in excess of par value

432.6


423.5
Retained earnings

698.8


779.6
Treasury stock, at cost - Common stock of 8,164,148 shares at December 31, 2025 and
8,051,226 shares at December 31, 2024

(237.0)


(234.4)
Accumulated other comprehensive loss

(141.7)


(153.8)
Total Ryerson Holding Corporation Stockholders' Equity

753.1


815.3
Noncontrolling interest

10.5


9.2
Total Equity

763.6


824.5
Total Liabilities and Stockholders' Equity
$2,404.7

$2,439.5
 Schedule 2
RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES
Reconciliations of Net Loss Attributable to Ryerson Holding Corporation to EBITDA and Gross profit to Gross profit excluding LIFO
(Dollars in millions)
























Third








Fourth Quarter

Quarter

Year Ended December 31,


2025

2024

2025

2025

2024
















Net loss attributable to Ryerson Holding Corporation
$(37.9)

$(4.3)

$(14.8)

$(56.4)

$(8.6)
Interest and other expense on debt

9.5


10.1


10.1


38.9


43.0
Provision (benefit) for income taxes

(10.2)


(0.6)


4.1


(16.1)


(0.1)
Depreciation and amortization expense

20.9


22.7


20.2


79.7


77.6
EBITDA
$(17.7)

$27.9

$19.6

$46.1

$111.9
Gain on insurance settlement

—


(0.3)


—


(1.0)


(1.6)
Gain on litigation settlement

(1.9)


—


—


(1.9)


—
Reorganization

7.4


9.5


7.3


23.7


58.1
Advisory services fees

7.8


—


—


7.8


—
Impairment charges on assets

1.5


—


0.1


3.4


—
Pension settlement loss (gain)

—


(0.1)


—


—


2.1
Benefit plan curtailment gain

—


—


—


—


(0.3)
Foreign currency transaction (gains) losses

0.5


(3.2)


(1.1)


2.1


(4.2)
Purchase consideration and other transaction costs (credits)

0.2


0.6


0.3


1.4


(0.8)
Other adjustments

0.1


1.3


0.9


1.2


1.4
Adjusted EBITDA
$(2.1)

$35.7

$27.1

$82.8

$166.6
















Adjusted EBITDA
$(2.1)

$35.7

$27.1

$82.8

$166.6
LIFO expense (income)

22.5


(25.4)


13.2


55.7


(52.5)
Adjusted EBITDA, excluding LIFO expense (income)
$20.4

$10.3

$40.3

$138.5

$114.1
















Net sales
$1,104.8

$1,007.4

$1,161.5

$4,571.3

$4,598.7
















Adjusted EBITDA, excluding LIFO expense (income), as a percentage of net sales

1.8%

1.0%

3.5%

3.0%

2.5%















Gross profit
$168.9

$191.1

$199.5

$782.2

$834.2
















Gross margin

15.3%

19.0%

17.2%

17.1%

18.1%















Gross profit
$168.9

$191.1

$199.5

$782.2

$834.2
LIFO expense (income)

22.5


(25.4)


13.2


55.7


(52.5)
Gross profit, excluding LIFO expense (income)
$191.4

$165.7

$212.7

$837.9

$781.7
















Gross margin, excluding LIFO expense (income)

17.3%

16.4%

18.3%

18.3%

17.0%















Note: EBITDA represents net income before interest and other expense on debt, provision for income taxes, depreciation, and amortization. Adjusted EBITDA gives further effect to, among other things, gain on insurance settlement, reorganization expenses, impairment charges on assets, advisory service fees, gain on litigation settlement, pension settlement loss, benefit plan curtailment gain, foreign currency transaction gains and losses, and purchase consideration and other transaction costs (credits). We believe that the presentation of EBITDA, Adjusted EBITDA, and Adjusted EBITDA, excluding LIFO expense (income), provides useful information to investors regarding our operational performance because they enhance an investor's overall understanding of our core financial performance and provide a basis of comparison of results between current, past, and future periods. We also disclose the metric Adjusted EBITDA, excluding LIFO expense (income), to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories. EBITDA, Adjusted EBITDA, and Adjusted EBITDA, excluding LIFO expense (income), are three of the primary metrics management uses for planning and forecasting in future periods, including trending and analyzing the core operating performance of our business without the effect of U.S. generally accepted accounting principles, or GAAP, expenses, revenues, and gains (losses) that are unrelated to the day to day performance of our business. We also establish compensation programs for our executive management and regional employees that are based upon the achievement of pre-established EBITDA, Adjusted EBITDA, and Adjusted EBITDA, excluding LIFO expense (income), targets. We also use EBITDA, Adjusted EBITDA, and Adjusted EBITDA, excluding LIFO expense (income), to benchmark our operating performance to that of our competitors. EBITDA, Adjusted EBITDA, and Adjusted EBITDA, excluding LIFO expense (income), do not represent, and should not be used as a substitute for, net income (loss) or cash flows from operations as determined in accordance with generally accepted accounting principles, and neither EBITDA, Adjusted EBITDA, and Adjusted EBITDA, excluding LIFO expense (income), is necessarily an indication of whether cash flow will be sufficient to fund our cash requirements. This release also presents gross margin, excluding LIFO expense (income), which is calculated as gross profit minus LIFO expense (income), divided by net sales. We have excluded LIFO expense (income) from gross margin and Adjusted EBITDA as a percentage of net sales metrics in order to provide a means of comparison amongst our competitors who may not use the same basis of accounting for inventories as we do. Our definitions of EBITDA, Adjusted EBITDA, Adjusted EBITDA, excluding LIFO expense (income), gross margin, excluding LIFO expense (income), and Adjusted EBITDA, excluding LIFO expense (income), as a percentage of sales may differ from that of other companies.
 Schedule 3
RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES
Reconciliation of Net Loss to Adjusted Net Loss and Adjusted Loss per Share
(Dollars and Shares in Millions, Except Per Share Data)
























Third








Fourth Quarter

Quarter

Year Ended December 31,


2025

2024

2025

2025

2024
















Net loss attributable to Ryerson Holding Corporation
$(37.9)

$(4.3)

$(14.8)

$(56.4)

$(8.6)
















Gain on insurance settlement

—


(0.3)


—


(1.0)


(1.6)
Gain on litigation settlement

(1.9)


—


—


(1.9)


—
Restructuring and other charges

—


0.3


—


—


3.1
Advisory services fees

7.8


—


—


7.8


—
Impairment charges on assets

1.5


—


0.1


3.4


—
Pension settlement loss (gain)

—


(0.1)


—


—


2.1
Benefit plan curtailment gain

—


—


—


—


(0.3)
Benefit for income taxes

(1.9)


—


—


(2.1)


(0.8)
















Adjusted net loss attributable to Ryerson Holding Corporation
$(32.4)

$(4.4)

$(14.7)

$(50.2)

$(6.1)
















Adjusted diluted loss per share
$(1.01)

$(0.14)

$(0.46)

$(1.56)

$(0.18)
















Shares outstanding - diluted

32.2


31.8


32.2


32.1


33.2
















Note: Adjusted net loss and Adjusted loss per share is presented to provide a means of comparison with periods that do not include similar adjustments.
































Schedule 4
RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIES
Cash Flow from Operations to Free Cash Flow Yield
(Dollars in Millions)
























Third








Fourth Quarter

Quarter

Year Ended December 31,


2025

2024

2025

2025

2024
















Net cash provided by (used in) operating activities
$112.7

$92.2

$(8.3)

$87.0

$204.9
Capital expenditures

(20.8)


(23.5)


(12.8)


(51.5)


(99.6)
Proceeds from sales of property, plant, and equipment

—


0.2


2.3


2.6


2.1
Free cash flow
$91.9

$68.9

$(18.8)

$38.1

$107.4
















Market capitalization
$810.4

$589.5

$736.1

$810.4

$589.5
















Free cash flow yield

11.3%

11.7%

(2.6)%

4.7%

18.2%















Note: Market capitalization is calculated using December 31, 2025, September 30, 2025, and December 31, 2024 stock prices and shares outstanding.
 Schedule 5RYERSON HOLDING CORPORATION AND SUBSIDIARY COMPANIESReconciliation of First Quarter 2026 Net Income Attributable to Ryerson Holding Corporation to Adj. EBITDA, excl. LIFO Guidance(Dollars in Millions)
First Quarter 2026
Low
HighNet income attributable to Ryerson Holding Corporation$10
$12



Interest and other expense on debt12
12Provision for income taxes3
5Depreciation and amortization expense23
23EBITDA$48
$52Adjustments7
9Adjusted EBITDA$55
$61LIFO expense8
6Adjusted EBITDA, excluding LIFO expense$63
$67



Note: See the note within Schedule 2 for a description of EBITDA and Adjusted EBITDA.






 



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Original: Ryerson Reports Fourth Quarter and Full-Year 2025 Results

Ryerson and Olympic Steel Announce Successful Closing of MergerFebruary 13, 2026 4:01 PM
PR Newswire (US)

CHICAGO and CLEVELAND, Feb. 13, 2026 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, and Olympic Steel, Inc. (formerly NASDAQ: ZEUS), a leading U.S. metals service center, together announce that they have successfully merged as of today. Ryerson is issuing 1.7105 shares of Ryerson common stock for every share of Olympic Steel common stock, after which former shareholders of Olympic Steel will hold approximately 37% of Ryerson.







The merger of these two companies enhances Ryerson's presence as the second-largest North American metals service center and represents a highly compatible strategic match as Olympic Steel brings its complementary footprint, capabilities, and product offerings into Ryerson's intelligently interconnected network of value-added service centers. The combined company expects to generate approximately $120 million in annual synergies by early 2028 majorly via procurement, scale, efficiency gains, commercial portfolio enhancements, and footprint optimization. Moving forward, the Company expects to report progress on synergy attainment on a quarterly basis.As of February 24th, the company will trade on the New York Stock Exchange as Ryerson Holding Corporation under the ticker "RYZ," which will honor both companies' former tickers and reflect the unification of their respective legacies and go-forward mission.Effective as of today, Eddie Lehner remains as Chief Executive Officer of Ryerson and Richard T. Marabito, former CEO of Olympic Steel, has been appointed as President and Chief Operating Officer of Ryerson. Jim Claussen, Executive Vice President & Chief Financial Officer of Ryerson, will continue to serve in his role for Ryerson. Richard A. Manson, formerly Chief Financial Officer of Olympic Steel, has been appointed Senior Vice President of Finance for Ryerson and will lead the transition and synergy attainment efforts. Andrew Greiff, formerly President and Chief Operating Officer of Olympic Steel, will now serve as Executive Vice President – Ryerson & President – Olympic Steel. Mark Silver, Ryerson's Executive Vice President, General Counsel & Chief HR Officer, will serve Ryerson as Executive Vice President, Chief Legal & Risk Officer. Molly Kannan, Ryerson's Corporate Controller and Chief Accounting Officer, will continue to serve in such role."The union of Ryerson and Olympic Steel unlocks tremendous growth opportunities across our now combined network of service centers, family of companies, and brands," said Eddie Lehner. "The augmented network density, product diversity, and service offerings promises a customer experience with greater speed to market, wider selection of products and services, and consistency of high value-added experiences. For our stockholders, we expect the merger will strengthen our ability to improve our quality of earnings through the cycle with accretive margins, strong free cash flow potential, an improved leverage profile, and approximately $120 million in attainable synergies all leading to enhanced shareholder value.""It's also deeply gratifying uniting two organizations with immense mutual respect, complementary businesses, and compatibility of values," continued Lehner. "My admiration for the Olympic leadership team and organization has only deepened over these past several months leading up to the closing and I look forward to our work together of shared mission and purpose to deliver all of the value this deal has to offer our customers, employees, and stockholders."Richard T. Marabito said, "We believe this merger represents an incredible opportunity to accelerate our growth commercially as we will be able to cross-sell processing capabilities, expand geographically, and strengthen the utilization of shared assets, all of which will improve the service experience for both contract and transactional customers. In addition, we could not be more confident in our procurement, efficiency, and optimization synergies, especially considering the scale of our combined business.""On top of all of this," continued Marabito, "We are also excited to bring our talents together at a time when both of our organizations are ending historically high investment cycles, have established strong balance sheets, and are experiencing what we believe to be the inflection of a manufacturing demand cycle. We are looking forward to joining forces with the Ryerson team, getting to work, and realizing our extraordinary potential together."Michael D. Siegal, formerly Executive Chairman of Olympic Steel's Board of Directors, has been appointed chairman of the Ryerson Board of Directors ("Board"). Three additional Olympic Steel Board members, Richard T. Marabito, Richard P. Stovsky, and Peter J. Scott, were found mutually satisfactory and have been appointed to the combined 11-member Board.Michael Siegal said, "I would like to congratulate and thank both management teams for achieving what is an important, historic event not only for Olympic Steel and Ryerson, but also for the metal service center industry. I look forward to leading the expanded Board and guiding the combined company into this new era of value creation for all stakeholders."The Board approved grants of restricted stock units, effective as of February 13, 2026, to each of Richard T. Marabito, Andrew S. Greiff, and Richard A. Manson, in connection with Ryerson's acquisition of Olympic Steel, Inc. The restricted stock units are subject to the terms of Ryerson's Second Amended and Restated 2014 Omnibus Incentive Plan, as amended, but were granted outside of the plan as an inducement material to the acceptance of employment by Messrs. Marabito, Greiff, and Manson with Ryerson, in accordance with NYSE Listing Rule 303A.08.The inducement award to Mr. Marabito consists of a grant of restricted stock units with a grant date fair value of approximately $3,880,000, but relating to no less than 150,496 shares and no more than 169,309 shares. The inducement award to Mr. Grieff consists of a grant of restricted stock units with a grant date fair value of approximately $2,430,000, but relating to no less than 94,254 shares and no more than 106,036 shares. The inducement award to Mr. Manson consists of a grant of restricted stock units with a grant date fair value of approximately $1,940,000, but relating to no less than 75,248 shares and no more than 84,654 shares. The restricted stock units will vest in full on the third anniversary of the grant date, subject to continued service through the vesting date and the other terms and conditions set forth in the inducement award agreements. Vesting of the inducement awards will be accelerated upon the occurrence of certain events as set forth in the award agreements evidencing the grants.Ryerson is providing this information in accordance with NYSE Listing Rule 303A.08.About Ryerson
Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,300 employees in 106 locations. Visit Ryerson at www.ryerson.com.About Olympic Steel
Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and value-added processing of carbon and coated sheet, plate and coil steel products; stainless steel sheet, plate, bar, and coil; aluminum sheet, plate, and coil; pipe, tube, bar, valves, and fittings; tin plate and metal-intensive end-use products, including stainless steel bollards; commercial, residential, and industrial venting and air filtration systems; Wright® brand self-dumping hoppers; and metal canopy components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 53 facilities. For additional information, please visit https://www.olysteel.com.Safe Harbor Provision
This communication contains certain "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may be identified by words such as "anticipates," "believes," "could," "continue," "estimate," "expects," "intends," "will," "should," "may," "plan," "predict," "project," "would" and similar expressions. Forward-looking statements are not statements of historical fact and reflect Ryerson's current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the merger involving Ryerson and Olympic Steel, including future financial and operating results, expected synergies, Ryerson's plans, objectives, expectations, and intentions, and other statements that are not historical facts. No assurances can be given that the forward-looking statements contained in this communication will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates, and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation,  the risk that the businesses will not be integrated successfully or will be more costly or difficult than expected; the risk that the cost savings and any other synergies may not be fully realized or may take longer to realize than expected, or that the transaction may be less accretive than expected; the risk that the merger will not provide stockholders with increased earnings potential; the risk that increases to earnings, margins, and cash flows may not be as large as expected or may not occur at all; Ryerson and Olympic Steel may not be able to increase commercial growth, cross-sell, or expand geographically, and scale the combined business as expected; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the merger; the risk of adverse reactions or changes to business or employee relationships resulting from the merger; adverse economic conditions; highly cyclical fluctuations resulting from, among others, seasonality, market uncertainty, and costs of goods sold; the combined company's ability to remain competitive and maintain market share in the highly competitive and fragmented metals distribution industry; managing the costs of purchased metals relative to the price at which each company sells its products during periods of rapid price escalation or deflation; customer, supplier, and competitor consolidation, bankruptcy, or insolvency; the impairment of goodwill that could result from, among other things, volatility in the markets in which each company operates; the impact of geopolitical events; future funding for postretirement employee benefits may require substantial payments from current cash flow; the regulatory and other operational risks associated with our operations located outside of the United States; the adequacy of each company's efforts to mitigate cyber security risks and threats; reduced production schedules, layoffs, or work stoppages by each company, its suppliers', or customers' personnel;  any underfunding of certain employee retirement benefit plans and the actual costs exceeding current estimates; prolonged disruption of each company's processing centers; failure to manage potential conflicts of interest between or among customers or suppliers of each company; unanticipated changes to, or any inability to hire and retain key personnel at either company; currency exchange rate fluctuations; the incurrence of substantial costs of liabilities to comply with, or as a result of, violations of environmental laws; the risk of product liability claims; Ryerson's indebtedness or covenants in the instruments governing such indebtedness; the influence of a single investor group over the company's policies and procedures; and other risks inherent in Ryerson's business and other factors described in Ryerson's filings with the Securities and Exchange Commission. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Ryerson. If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.Forward-looking statements are based on the estimates and opinions of management as of the date of this communication; subsequent events and developments may cause their assessments to change. Ryerson does not undertake any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law and they specifically disclaim any obligation to do so. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.



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Original: Ryerson and Olympic Steel Announce Successful Closing of Merger

Ryerson Holding Corporation Stockholders and Olympic Steel, Inc. Shareholders Approve Proposals Related to Pending TransactionFebruary 12, 2026 11:00 AM
PR Newswire (US)

CHICAGO and CLEVELAND, Feb. 12, 2026 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, and Olympic Steel, Inc. (NASDAQ: ZEUS), a leading U.S. metals service center, announced today that the shareholders of Olympic Steel and the stockholders of Ryerson have approved the merger and the related issuance of Ryerson stock, respectively, at their respective Special Meetings. As a result, the closing of the merger is expected to occur on February 13, 2026, subject to the satisfaction of the remaining customary closing conditions. Shares of Olympic Steel will cease trading on February 13, 2026, and following the closing, Olympic Steel will no longer be listed on the NASDAQ exchange.







Under the terms of the merger agreement, upon the closing of the transaction, Olympic Steel will merge with Ryerson on the terms set forth in the merger agreement and Olympic Steel shareholders will be entitled to receive 1.7105 shares of Ryerson common stock per share of Olympic Steel common stock.About Ryerson
Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,300 employees in approximately 106 locations. Visit Ryerson at www.ryerson.com.About Olympic Steel
Founded in 1954, Olympic Steel (Nasdaq: ZEUS) is a leading U.S. metals service center focused on the direct sale and value-added processing of carbon and coated sheet, plate and coil steel products; stainless steel sheet, plate, bar and coil; aluminum sheet, plate and coil; pipe, tube, bar, valves and fittings; tin plate and metal-intensive end-use products, including stainless steel bollards; commercial, residential and industrial venting and air filtration systems; Wright® brand self-dumping hoppers; and metal canopy components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 53 facilities. For additional information, please visit https://www.olysteel.com.FORWARD-LOOKING STATEMENTS
This communication contains certain "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may be identified by words such as "anticipates," "believes," "could," "continue," "estimate," "expects," "intends," "will," "should," "may," "plan," "predict," "project," "would" and similar expressions. Forward-looking statements are not statements of historical fact and reflect Ryerson's and Olympic Steel's current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the proposed transaction involving Ryerson and Olympic Steel, including future financial and operating results, expected synergies, Ryerson's and Olympic Steel's plans, objectives, expectations, and intentions, the expected timing and likelihood of completion of the proposed transaction, and other statements that are not historical facts. No assurances can be given that the forward-looking statements contained in this communication will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates, and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the risk that an event, change or other circumstance could give rise to the termination of the proposed transaction; the risk that a condition to the consummation of the proposed transaction may not be satisfied; the risk of delays in completing the proposed transaction, including as related to any government shutdown; the risk that the businesses will not be integrated successfully or will be more costly or difficult than expected; the risk that the cost savings and any other synergies from the proposed transaction may not be fully realized or may take longer to realize than expected, or that the proposed transaction may be less accretive than expected; the risk that the merger will not provide shareholders with increased earnings potential; the risk that any announcement relating to the proposed transaction could have adverse effects on the market price of Ryerson's or Olympic Steel's common stock; the risk of litigation related to the proposed transaction; the risk that increases to earnings, margins, and cash flows may not be as large as expected or may not occur at all; Ryerson and Olympic Steel may not be able to increase commercial growth, cross-sell, expand geographically, and scale the combined business as expected; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the proposed transaction; the risk of adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; adverse economic conditions; highly cyclical fluctuations resulting from, among others, seasonality, market uncertainty, and costs of goods sold; each company's ability to remain competitive and maintain market share in the highly competitive and fragmented metals distribution industry; managing the costs of purchased metals relative to the price at which each company sells its products during periods of rapid price escalation or deflation; customer, supplier, and competitor consolidation, bankruptcy, or insolvency; the impairment of goodwill that could result from, among other things, volatility in the markets in which each company operates; the impact of geopolitical events; future funding for postretirement employee benefits may require substantial payments from current cash flow; the regulatory and other operational risks associated with our operations located outside of the United States; the adequacy of each company's efforts to mitigate cyber security risks and threats; reduced production schedules, layoffs or work stoppages by each company's own, its suppliers', or customers' personnel; any underfunding of certain employee retirement benefit plans and the actual costs exceeding current estimates; prolonged disruption of each company's processing centers; failure to manage potential conflicts of interest between or among customers or suppliers of each company; unanticipated changes to, or any inability to hire and retain key personnel at either company; currency exchange rate fluctuations; the incurrence of substantial costs of liabilities to comply with, or as a result of, violations of environmental laws; the risk of product liability claims; either company's indebtedness or covenants in the instruments governing such indebtedness; the influence of a single investor group over either company's policies and procedures; and other risks inherent in Ryerson's and Olympic Steel's businesses and other factors described in Ryerson's and Olympic Steel's respective filings with the Securities and Exchange Commission (the "SEC"), including in the joint proxy statement filed by Ryerson and Olympic Steel with the SEC on January 14, 2026. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Ryerson and Olympic Steel, or the combined company resulting from the proposed transaction with the SEC, including under the heading "Risk Factors." If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.Forward-looking statements are based on the estimates and opinions of management as of the date of this communication; subsequent events and developments may cause their assessments to change. Neither Ryerson nor Olympic Steel undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law and they specifically disclaim any obligation to do so. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.IMPORTANT ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND ITIn connection with the merger, Ryerson and Olympic Steel have filed a joint proxy statement with the SEC on January 14, 2026, and Ryerson has filed with the SEC the Registration Statement on Form S-4 on December 5, 2025 (File No. 333-291983) that includes the joint proxy statement of Ryerson and Olympic Steel and a prospectus of Ryerson. Each of Ryerson and Olympic Steel may also file other relevant documents with the SEC regarding the merger. This document is not a substitute for the Joint Proxy Statement/Prospectus or Registration Statement or any other document that Olympic Steel or Ryerson may file with the SEC. The definitive joint proxy statement/prospectus was mailed to stockholders of Ryerson and the shareholders of Olympic Steel on or about January 14, 2026. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN OR MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT RYERSON, OLYMPIC STEEL, AND THE MERGER.Investors and security holders are able to obtain free copies of the Registration Statement, Joint Proxy Statement/Prospectus and other documents containing important information about Ryerson, Olympic Steel and the merger through the website maintained by the SEC at http://www.sec.gov. Copies of the Registration Statement, Joint Proxy Statement/Prospectus and other documents filed with the SEC by Ryerson may be obtained free of charge by directing a request by mail to Ryerson's Corporate Secretary at Ryerson Holding Corporation, Attention: Secretary, 227 W. Monroe St., 27th Floor, Chicago, Illinois, 60606. Copies of the Registration Statement, Joint Proxy Statement/Prospectus and other documents filed with the SEC by Olympic Steel may be obtained free of charge by directing a request by mail to Olympic Steel's Chief Financial Officer at Olympic Steel, Inc., 22901 Millcreek Boulevard, Suite 650, Highland Hills, OH, Attention: Chief Financial Officer.



View original content to download multimedia:https://www.prnewswire.com/news-releases/ryerson-holding-corporation-stockholders-and-olympic-steel-inc-shareholders-approve-proposals-related-to-pending-transaction-302686611.htmlSOURCE Ryerson Holding Corporation

Original: Ryerson Holding Corporation Stockholders and Olympic Steel, Inc. Shareholders Approve Proposals Related to Pending Transaction

Ryerson to Host Earnings Call on Friday, February 20th to Discuss Fourth Quarter and Full-Year 2025 ResultsJanuary 28, 2026 4:39 PM
PR Newswire (US)

CHICAGO, Jan. 28, 2026 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today that it will host a conference call to discuss its fourth quarter and full-year 2025 financial results for the period ended December 31, 2025 on Friday, February 20th at 10 a.m. Eastern Time. The live online broadcast will be available on the Company's Investor Relations website, ir.ryerson.com. Ryerson will report earnings after the market closes on Thursday, February 19th and file its annual report on form 10-K prior to market open on Monday, February 23rd.







Ryerson Holding Corporation's Fourth Quarter and Full-Year 2025 Earnings Call Details:DATE:                            Friday, Feb 20, 2026TIME:                         10:00 a.m. ET / 9:00 a.m. CTDIAL-IN:                       800-330-6710 (U.S. & Canada) / 646-769-9200 (International)CONFERENCE ID:3768447An online replay of the call will be posted on the investor relations website, ir.ryerson.com, and remain available for 90 days.Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,300 employees and over 110 locations. Visit Ryerson at www.ryerson.com.



View original content to download multimedia:https://www.prnewswire.com/news-releases/ryerson-to-host-earnings-call-on-friday-february-20th-to-discuss-fourth-quarter-and-full-year-2025-results-302673197.htmlSOURCE Ryerson Holding Corporation

Original: Ryerson to Host Earnings Call on Friday, February 20th to Discuss Fourth Quarter and Full-Year 2025 Results

Little dip then rip to a new HOD just now.

RYI bullish at $8.93. Might have to grab a starter.

RYI is on the way up now could hit new high.

Probably time for RYI to make another big run here

RYI bullish 14.39

Still no one talking about this 3 month runner?

Ryerson Holding (NYSE:RYI): Q2 EPS of $0.53 beats by $0.35.

Revenue of $840.4M (-9.8% Y/Y) misses by $39.55M.

$RYI recent news/filings

bullish

## source: finance.yahoo.com

Fri, 08 May 2015 22:51:40 GMT ~ CFO Moves: Univision, Ryerson Holding, Universal American


read full: http://blogs.wsj.com/cfo/2015/05/08/cfo-moves-univision-ryerson-holding-universal-american/?mod=yahoo_hs
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Fri, 08 May 2015 15:42:35 GMT ~ Ryerson Appoints Edward J Lehner As President And Chief Executive Officer

[at noodls] - Download (202 KB PDF) Media contact: Chris Bona Head of Communications 312.292.5052 mediainfo@ryerson.com RYERSON APPOINTS EDWARD J. LEHNER, EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER, AS PRESIDENT ...

read full: http://www.noodls.com/view/670520885D38668CA2113394F025EE6BE8F3EEC3
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Fri, 08 May 2015 13:02:14 GMT ~ RYERSON HOLDING CORP Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits


read full: http://biz.yahoo.com/e/150508/ryi8-k.html
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Fri, 08 May 2015 13:00:00 GMT ~ Ryerson Appoints Edward J. Lehner, Executive Vice President And Chief Financial Officer, As President And Chief Executive Officer

[PR Newswire] - CHICAGO, May 8, 2015 /PRNewswire/ -- Ryerson Holding Corporation (RYI), a leading processor and distributor of metals, today announced that its Board of Directors has appointed Edward J. Lehner as the Company's President and Chief Executive Officer, effective June 1, 2015. He will succeed Michael C. Arnold who will retire at the end of the month. Edward Lehner, 49, has served as the Company's Executive Vice President and Chief Financial Officer since 2012. "The Board conducted an extensive internal and external search to find the right candidate to lead the business forward," said Philip E. Norment, a member of Ryerson's Board of Directors who led the CEO search process.

read full: http://finance.yahoo.com/news/ryerson-appoints-edward-j-lehner-130000526.html
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Thu, 07 May 2015 22:56:18 GMT ~ Ryerson Announces First Quarter 2015 Results

[at noodls] - Download (116 KB PDF) Revenues for the first quarter of 2015 were $868.0 million, unchanged from the fourth quarter of 2014 and down 0.7 percent from the first quarter of 2014. Gross margin was 17.3 percent ...

read full: http://www.noodls.com/view/0DCA39170A70D5FDCB2083FAA314BBCAE07D7543
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$RYI charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$RYI company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/RYI/company-info
Ticker: $RYI
OTC Market Place: Not Available
CIK code: not found
Company name: Ryerson Holdings Corp
Incorporated In:

Business Description:

$RYI share structure

## source: otcmarkets.com

Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01

$RYI extra dd links

Company name: Ryerson Holdings Corp
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/RYI/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/RYI/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=RYI+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=RYI+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=RYI+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/RYI/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/RYI/news - http://finance.yahoo.com/q/h?s=RYI+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/RYI/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/RYI/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/RYI/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/RYI/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/RYI/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/RYI/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/RYI/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/RYI/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=RYI+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/RYI
DTCC (dtcc.com): http://search2.dtcc.com/?q=Ryerson+Holdings+Corp&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Ryerson+Holdings+Corp
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Ryerson+Holdings+Corp&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/RYI/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/RYI
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/RYI/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/RYI/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/RYI/sec-filings
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/RYI/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/RYI/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/RYI/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/RYI/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=RYI&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=RYI
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/RYI/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=RYI+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=RYI+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=RYI
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=RYI
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=RYI+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/RYI/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=RYI+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/RYI.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=RYI
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/RYI/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/RYI/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/RYI/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/RYI/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/RYI
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/RYI
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/RYI:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=RYI
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=RYI



$RYI DD Notes ~ http://www.ddnotesmaker.com/RYI

Ryerson Holding (NYSE:RYI): Q1 EPS of $0.15 beats by $0.11.

Revenue of $868M (-0.7% Y/Y) in-line.

There is a lot of money to be made with RYI!!! One of the largest Steel manufactories in North America!!! Hell yea!! Money Money Money!!!!!

How were you guys able to buy if the thing is still not for sale? I have two orders in but my broker says it's still not open to the public.

Had to go out today during trading hours, so decided to close position today at 33.23. Low, but still profitable. Market too jittery at the moment to leave positions unattended or hold overnight.

Also the Shanghai Composite was down another 2.9% today.

Nice close today @34.36 and currently up in ah. eom

Little typo there....got in @32.64 eom

In today @23.64 after yesterdays market sell off.