Russel Metals Inc. (RUS) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the 2026 First Quarter Results for Russell Metals. Today's call will be hosted by Mr. Martin Dorofsky, Executive Vice President and Chief Financial Officer, and Mr. John Reed, President and Chief Executive Officer of Russell Metals. Today's presentation will be followed by a question and answer period. At that time, if you have a question, please press star 1 on your telephone keypad. I will now turn the meeting over to Mr. Martin Dorofsky. Please go ahead, Mr. Dorofsky. Great. Thank you, Operator, and good morning, everyone. I plan on providing an overview of the Q1 2026 results, and if you want to follow along, I'll be using the slides that are on our website. You can go to the investor relations section, and it's located in the conference call submenu, or alternatively, you can click on the link that is in the investor conference call paragraph of our recent press release. If you go to page three, you can read our cautionary statement. on forward looking information. To begin, I would characterize Q1 as a very positive inflection point for two primary reasons. One, a number of the strategic initiatives that have been discussed over the past year or so have translated into positive impacts within our Q1 results. In two, we are starting to see the benefits from favorable market conditions. In particular, the market conditions improved through Q1 with the end of the quarter being stronger than the start of the quarter. This sets the stage well for Q2. On page five, we've got a snapshot of our quarter. In Q1, we had record overall revenues and also record shipments for our steel service center segment. And this was the result of three items. One, the Klockner acquisition that we closed on December 31, 2025, a seasonal...