Why This Matters to Distributors: Ryerson’s first full quarter with Olympic Steel highlights how consolidation is reshaping industrial distribution. The combined company expanded its product offering, geographic reach and processing capacity while reporting stronger demand from data center and power generation projects. Management also said the integration is moving faster than expected, allowing the company to raise its synergy outlook.
Ryerson Holding Corp. reported sharply higher second-quarter and first-half sales as its acquisition of Olympic Steel drove growth in shipments and expanded its presence across the industrial metals distribution market.
Revenue for the quarter ending June 30 increased 71.6% to $2.01 billion from $1.17 billion a year earlier. For the first six months of 2026, revenue rose 55.0% to $3.57 billion from $2.31 billion in the same period last year.
Net income increased to $15.5 million, or 30 cents per diluted share, from $1.9 million, or 6 cents per diluted share, a year earlier. For the first half of 2026, Ryerson earned $20.0 million, compared with a loss of $3.7 million during the first six months of 2025.
The quarter marked the company’s first full reporting period since completing its acquisition of Olympic Steel on Feb. 13.
Shipments increased 60.5% year over year to 804,000 tons, while the average selling price rose 6.9% to $2,495 per ton. Through the first half of the year, shipments increased 45.9% to 1.46 million tons and the average selling price rose 6.3% to $2,447 per ton.
Ryerson said Olympic Steel contributed $564.2 million in second-quarter revenue. Excluding the acquisition, same-store revenue increased 23.3% from a year earlier, with shipments up 8.6% and average selling prices up 13.6%.
CEO Eddie Lehner said demand remained uneven across industrial markets but was supported by continued investment in data centers and power generation, along with gains in market share following the merger.
The company said it captured about $5 million in merger-related cost savings during the quarter and now expects to generate $13 million to $14 million in savings during the third quarter. That would put Ryerson ahead of schedule in reaching its first-year annual savings target of $40 million.
President and chief operating officer Rick Marabito said customers continue to place greater value on product availability, processing capabilities and faster response times, adding that the combined company’s larger network is helping meet those needs.
For the third quarter, Ryerson expects revenue between $1.87 billion and $1.95 billion. The company said shipments are expected to decline 3% to 5% from the second quarter because of normal seasonal patterns, while average selling prices are expected to range from flat to up 2%.
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