Ryerson Q4 net loss $37.9M vs expected $9-7M loss; merger on track for Q1 2026

Ryerson Holding Corp

2025-FY EPS reported -$1.76 revenue$4,571,300,000

Q4 revenue $1.10B, tons shipped -4.9% QoQ, net loss $37.9M ($1.18/sh) vs expected loss of $9-7M.
Gross margin fell to 15.3% from 17.2% QoQ; LIFO expense $22.5M above guidance of $10-14M.
Adjusted EBITDA ex-LIFO $20.4M, below guidance range of $33-37M.
Q1 2026 guidance: revenue $1.26-1.30B, net income $10-12M, adjusted EBITDA ex-LIFO $51-54M.
Merger with Olympic Steel on track for Q1 2026; pro forma Q1 rev $1.52-1.58B, Adj EBITDA $63-67M; shareholder lawsuits filed.

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