Russel Metals Inc. (RUS) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the 2026 Second Quarter Results for Russell Metals. Today's call will be hosted by Mr. Martin Juravsky, Executive Vice President and Chief Financial Officer, and Mr. John Reid, President and Chief Executive Officer of Russell Metals Inc. 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 Juravsky. Please go ahead, Mr. Juravsky. Thank you. Great. Thank you, operator. Good morning, everyone. I plan on providing an overview of the Q2 2026 results. If you want to follow along, I'll be using the slides that are on our website. You can just go to the investor relations section, and it's located in the conference call submenu, or you can click on the link that is in the investor conference call paragraph in our press release from yesterday. If you go to page three, You can read our cautionary statement on forward-looking information. To begin, I think that Q2 provides an indication of how the portfolio changes over the last few years has resulted in a meaningfully reconfigured business with a superior earnings generation profile. Since 2024, we deployed almost $700 million for acquisition and CapEx and sold 90 million dollars of non-core assets. These changes were aimed at growing the business, enhancing our return on capital, and improving our earnings profile over the cycle. The Q2 results illustrate a new frame of reference for our earnings power when our business portfolio was combined with a favorable market environment. If we look specifically at Q2, the market conditions were strong and broad based. We had record shipment volumes in combination with pricing and margins...