Ryerson to acquire Olympic Steel in all-stock merger with ~$120M synergies; reports Q3 loss

Ryerson Holding Corp

Revenue $1.16B, net loss $14.8M, diluted EPS -$0.46; Adj. EBITDA (excl LIFO) $40.3M.
Merger: Olympic Steel shareholders get 1.7105 RYI shares per ZEUS share, ~37% ownership, expected close Q1 2026.
Annual synergies of ~$120M expected by end of year two; one-time implementation costs ~$40M.
Leadership: Michael Siegal to be Chairman, Eddie Lehner CEO, Rick Marabito President/COO.
Dividend declared $0.1875/share, payable Dec 18, 2025, unchanged from prior quarter.

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