$RYZ

Ryerson Holding Corp

CIK:0001481582|SEC Filings

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net sales	$ 2,006.2	$ 1,169.3	$ 3,572.7	$ 2,305.0
Cost of materials sold	1,651.0	959.9	2,928.7	1,891.2
Gross profit	355.2	209.4	644.0	413.8
Warehousing, delivery, selling, general, and administrative	320.3	201.8	585.5	403.9
Impairment charges on assets	0.5	1.8	0.9	1.8
Operating profit	34.4	5.8	57.6	8.1
Other income and (expense), net	1.9	(2.3)	3.6	(2.0)
Interest and other expense on debt	(14.3)	(9.8)	(26.0)	(19.3)
Income (loss) before income taxes	22.0	(6.3)	35.2	(13.2)
Provision (benefit) for income taxes	6.0	(8.4)	14.2	(10.0)
Net income (loss)	16.0	2.1	21.0	(3.2)
Less: Net income attributable to noncontrolling interest	0.5	0.2	1.0	0.5
Net income (loss) attributable to Ryerson Holding Corporation	15.5	1.9	20.0	(3.7)
Comprehensive income	13.5	10.5	15.4	4.4
Less: Comprehensive income attributable to noncontrolling interest	0.4	0.3	0.9	0.5
Comprehensive income attributable to Ryerson Holding Corporation	$ 13.1	$ 10.2	$ 14.5	$ 3.9
Basic earnings (loss) per share	$ 0.3	$ 0.06	$ 0.42	$ (0.12)
Diluted earnings (loss) per share	0.3	0.06	0.42	(0.12)
Dividends declared per share	$ 0.1875	$ 0.1875	$ 0.375	$ 0.375

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income (loss)	$ 21.0	$ (3.2)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	55.1	38.6
Stock-based compensation	8.4	6.8
Deferred income taxes	7.2	(0.9)
Provision for allowances, claims, and doubtful accounts	3.2	2.0
Impairment charges on assets	0.9	1.8
Gain on insurance settlement	(0.6)
Pension settlement gain	(0.5)	(0.5)
Non-cash (gain) loss from derivatives	0.7	(3.9)
Other items	(0.8)	(0.9)
Change in operating assets and liabilities:
Receivables	(269.6)	(104.6)
Inventories	(93.3)	12.1
Other assets and liabilities	(20.0)	3.2
Accounts payable	66.5	51.9
Accrued liabilities	26.9	0.2
Accrued taxes payable/receivable	4.2	(10.6)
Deferred employee benefit costs	(4.9)	(11.1)
Tenant improvement allowance	1.5	1.7
Net increase in book overdrafts	36.3	15.0
Net adjustments	(178.8)	0.8
Net cash used in operating activities	(157.8)	(2.4)
Investing activities:
Acquisitions, net of cash acquired	(270.0)
Capital expenditures	(28.5)	(17.9)
Proceeds from sale of property, plant, and equipment	5.5	0.3
Proceeds from insurance settlement	0.8	0.6
Other items	(0.3)	(4.0)
Net cash used in investing activities	(292.5)	(21.0)
Financing activities:
Proceeds from borrowings	942.2	358.6
Payments made on borrowings	(442.6)	(316.4)
Credit facility issuance costs	(8.3)
Principal payments on finance lease obligations	(3.3)	(2.8)
Dividends paid to shareholders	(19.4)	(12.0)
Share repurchases	(2.4)
Proceeds from exercise of common stock options	0.4
Contingent payments related to acquisitions		(1.6)
Proceeds from finance lease obligations	0.4	2.2
Tax withholdings on stock-based compensation awards	(1.4)	(2.6)
Net cash provided by financing activities	465.6	25.4
Net increase in cash, cash equivalents, and restricted cash	15.3	2.0
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	0.2	0.9
Net change in cash, cash equivalents, and restricted cash	15.5	2.9
Cash, cash equivalents, and restricted cash—beginning of period	27.8	29.3
Cash, cash equivalents, and restricted cash—end of period	43.3	32.2
Cash paid during the period for:
Interest paid to third parties, net	20.1	19.1
Income taxes, net	2.8	2.9
Noncash investing activities:
Asset additions under operating leases	4.8	15.2
Asset additions under finance leases	$ 0.5	$ 2.4

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 41.9	$ 26.9
Restricted cash	1.4	0.9
Receivables less provisions of $2.4 at June 30, 2026 and $2.7 at December 31, 2025	927.2	460.8
Inventories	1,193.7	648.3
Prepaid expenses and other current assets	102.4	85.9
Total current assets	2,266.6	1,222.8
Property, plant, and equipment, at cost	1,528.7	1,179.8
Less: Accumulated depreciation	606.9	570.0
Property, plant, and equipment, net	921.8	609.8
Operating lease assets	343.8	323.9
Other intangible assets less accumulated amortization of $108.7 at June 30, 2026 and $102.4 at December 31, 2025	81.8	58.2
Goodwill	164.4	161.5
Deferred charges and other assets	63.3	28.5
Total assets	3,841.7	2,404.7
Current liabilities:
Accounts payable	788.1	516.0
Salaries, wages, and commissions	76.6	40.5
Other accrued liabilities	115.0	72.0
Short-term debt	2.6	1.9
Current portion of operating lease liabilities	41.7	34.0
Current portion of deferred employee benefits	3.6	3.7
Total current liabilities	1,027.6	668.1
Long-term debt	952.6	461.2
Deferred employee benefits	89.1	70.2
Noncurrent operating lease liabilities	331.9	318.6
Deferred income taxes	121.5	110.2
Other noncurrent liabilities	20.2	12.8
Total liabilities	2,542.9	1,641.1
Commitments and contingencies
Ryerson Holding Corporation stockholders’ equity:
Preferred stock, $0.01 par value; 7,000,000 shares authorized; no shares issued and outstanding at June 30, 2026 and December 31, 2025
Common stock, $0.01 par value; 100,000,000 shares authorized; 60,233,293 and 40,373,512 shares issued at June 30, 2026 and December 31, 2025, respectively	0.6	0.4
Capital in excess of par value	976.6	432.6
Retained earnings	699.2	698.8
Treasury stock at cost - Common stock of 8,342,140 and 8,164,148 shares at June 30, 2026 and December 31, 2025, respectively	(240.8)	(237.0)
Accumulated other comprehensive loss	(147.2)	(141.7)
Total Ryerson Holding Corporation stockholders’ equity	1,288.4	753.1
Noncontrolling interest	10.4	10.5
Total equity	1,298.8	763.6
Total liabilities and equity	$ 3,841.7	$ 2,404.7