Ryerson Holding Corporation · NYSE:RYZ
Ryerson — Q1 2026 Earnings Presentation
16 slides from Ryerson's earnings presentation, May 7, 2026
Slide 1: Ryerson Quarterly Release Presentation Q1 2026
Ryerson Quarterly Release Presentation Q1 2026
Slide 2: Important Information About Ryerson Holding Corporation
Important Information About Ryerson Holding Corporation These materials do not constitute an offer or solicitation to purchase or sell securities of Ryerson Holding Corporation (“Ryerson” or “the Company”) or its subsidiaries and no investment decision should be made based upon the information provi
Slide 3: Q1 2026 Highlights
Q1 2026 HIGHLIGHTS $1.57B $1.29B • YoY tons shipped +31.2%, average selling prices +5.2% • YoY Same-store tons shipped +4.6%, average selling prices +8.9% Q1 Revenue Q1 Same-store Revenue • Outpaced MSCI shipment growth, indicating market share gains $4.5M $13.1M • Adjusted net income removes the im
Slide 4: Industry Performance & Market Commentary
INDUSTRY PERFORMANCE & MARKET COMMENTARY Market Share End-Market Commentary Ryerson Olympic • Ryerson’s North American first quarter volume growth 7.2% outpaced the industry, as measured by the MSCI1, indicating market share gains even on a same-store basis 2.6% • Volume growth was led by transactio
Slide 5: Q2 2026 Guidance
Q2 2026 GUIDANCE Diluted Earnings (loss) per Share Adj. EBITDA, Net sales Net Income1 excl. LIFO 0.06 0.08 0.10 0.30 0.40 $1.86 - 1.93B $20 – 22M $88 - 92M (0.46) (0.46) Second quarter guidance assumes: (1.18) (1.01) • Shipments increase 18 to 20% compared to the first quarter as daily shipments rem
Slide 6: Merger Synergy Progress
MERGER SYNERGY PROGRESS Estimated annual run-rate savings from Q1 actions • $40M in expected annualized $40M $25M $20M $35M $120M synergies thus far, $1 million of which was realized in Q1 with $4-6 million expected in Q2 and more anticipated in the second half of 2026 • Minimal incurred expenses th
Slide 7: Capital Allocation Plan
CAPITAL ALLOCATION PLAN Dividends M&A Quarterly dividend/share Highly selective while focusing of $0.1875 for Q2 ’26 on Olympic integration Capex Buybacks $12.2M in Q1 ’26; Repurchased $1.6M in $75M for FY 2026 Q1; RYZ Board budgeted approved $100M authorization for 2 years Create & Return Value 7
Slide 8: Q1 2026 Key Financial Metrics
Q1 2026 KEY FINANCIAL METRICS Diluted Earnings Net Sales Gross Margin Net Income1 Total Debt per Share $1.57B 18.4% $4.5M $0.10 $908M +37.9% +40 bps +$10.1M +$0.28 +$411M YoY YoY YoY YoY YoY Gross Adjusted Diluted Adj. EBITDA Tons Shipped Margin, excl. Earnings per Net Debt excl. LIFO LIFO2 Share 65
Slide 9: Capital Management
CAPITAL MANAGEMENT 700 600 Liquidity & Net Debt, $M $883 500 • Ryerson’s debt increased in the 400 300 $464 $479 $470 $436 first quarter as the Company 200 paid off Olympic Steel’s debt, 100 0 $490 $485 $521 $502 $618 paid for merger related costs, Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 and funded working ca
Slide 10: Ryerson Olympic Steel
RYERSON Z7 OLYMPIC STEEL
Slide 11: Appendix
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Slide 12: Forward-Looking Statements
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,”
Slide 13: Merger Synergy Opportunities Overview
MERGER SYNERGY OPPORTUNITIES OVERVIEW ~$120M 33% 100% >$190M Expected Annual Run Rate Expected implementation Expected implementation Pro Forma Free Cash Flow2 Synergies1 by end of Year 1 by end of Year 2 4 Key Pillars Underpinning Synergy Realization Procurement Efficiency Gains Commercial Enhancem
Slide 14: Quarterly Financial Highlights
QUARTERLY FINANCIAL HIGHLIGHTS Tons Sold (000’s) Average Selling Price Per Ton 656 $2,395 $2,397 $2,388 $2,334 501 $2,271 500 485 461 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Gross Margin & Gross Margin, excl. LIFO Net Income (Loss) & Adj. EBITDA excl. LIFO ($M
Slide 15: Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO
NON-GAAP RECONCILIATION: ADJUSTED EBITDA, EXCL. LIFO ($M) Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Tons Sold (000's) 500 501 485 461 656 Net Sales $ 1,135.7 $ 1,169.3 $ 1,161.5 $ 1,104.8 $ 1,566.5 Gross Profit 204.4 209.4 199.5 168.9 288.8 Gross Margin 18.0% 17.9% 17.2% 15.3% 18.4% LIFO expense 6.8 13.2 1
Slide 16: Non-GAAP Reconciliation: Adjusted Net Income (Loss) and Leverage
NON-GAAP RECONCILIATION: ADJUSTED NET INCOME (LOSS) AND LEVERAGE (Dollars and shares in millions, except per share data) Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Net income (loss) attributable to Ryerson Holding Corporation ($5.6) $1.9 ($14.8) ($37.9) $4.5 Advisory service fee - - - 7.8 6.3 Impairment cha