Ryerson Holding Corporation · NYSE:RYZ
Ryerson — Q3 2026 Earnings Presentation
15 slides from Ryerson's earnings presentation, Oct 28, 2026
Slide 1: Ryerson Holding Corporation Earnings Presentation Third Quarter 2026
Ryerson Holding Corporation Earnings Presentation Third Quarter 2026 Exhibit 99.2
Slide 2: Important Information About Ryerson Holding Corporation
Important Information About Ryerson Holding Corporation These materials do not constitute an offer or solicitation to purchase or sell securities of Ryerson Holding Corporation (“Ryerson” or “the Company”) or its subsidiaries and no investment decision should be made based upon the information provi
Slide 3: Q3 2026 Highlights
RYERSON REVENUE $2.18B +9% QoQ | +9% QoQ Same-store ADJ. EBITDA, EXCL. LIFO $115M +$14M QoQ | +$7M QoQ Same-store FREE CASH FLOW $(39.5)M -$22M QoQ NET DEBT / LEVERAGE $966M / 3.2x +$53M QoQ | -0.8x QoQ FINANCIAL ACHIEVMENTS Exceeded revenue, net income, and Adjusted EBITDA, excl. LIFO guidance Stro
Slide 4: End-Market Demand
End-Market Demand RYERSON Shipments exceeded seasonal expectations: Total Company shipments increased 1.2% sequentially versus guidance for a 3%–5% decline. Same-store shipments increased 1.8% to their highest quarterly level in more than five years, with daily shipment volumes and invoice counts in
Slide 5: Q4 2026 Guidance
RYERSON 1Net income attributable to Ryerson Holding Corporation; 2Diluted EPS of $0.34 represents the midpoint of our $0.30 –$0.38 guidance range. See Ryerson’s 8-K filed on October 28, 2026 Net sales Net Income1 Adj. EBITDA, excl. LIFO $1.96 - 2.04B $16 – 20M $100 - 104M Fourth quarter guidance ass
Slide 6: Olympic Integration Dashboard
Olympic Integration Dashboard RYERSON Eclipsed first year synergy target early; projecting $14-15M realization in Q4 Synergy Pillar Two-Year Target Run-Rate Q3 P&L Realized Annualized Run-Rate Synergies Q4 P&L Expected1 Q4/Q1 Milestones1 Procurement $40M $5.9 $23.6 ~$6 Align purchasing programs and
Slide 7: Strategically Allocating Capital
RYERSON Capex Dividends M&A Buybacks Budgeted $75M for FY 2026 Quarterly dividends/share of $0.1875 to date Active but selective approach Repurchased $3.8M in Q3 Prioritizing free cash flow generation and debt reduction Maintained disciplined approach to capex in the third quarter while supporting t
Slide 8: Q3 2026 Key Financial Metrics
RYERSON 1 Net income attributable to Ryerson Holding Corporation; 2Adjusted Gross Margin, excl. LIFO excludes inventory purchase accounting adjustments. A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in the Appendix. See Ryerson’s 8-K filed on October 28,
Slide 9: Capital Management
Capital Management RYERSON Leverage ratio decrease was driven by EBITDA contribution + synergy conversion We anticipate that higher trailing twelve-month EBITDA generation, in combination with our expectation for seasonally-aligned working capital requirements, will further reduce our leverage ratio
Slide 10: Ryerson
RYERSON
Slide 11: Appendix
Appendix
Slide 12: 4 Key Pillars Underpinning Synergy Realization
Note: Targets and estimates shown were presented in February 2026 at the closing of the Ryerson–Olympic Steel merger. See the current-quarter integration update for progress against these targets on slide 6. 1 Synergy estimate is preliminary and subject to change; synergy realization subject to esti
Slide 13: Quarterly Financial Highlights
*Net Income (Loss) attributable to Ryerson Holding Corporation; A reconciliation of non-GAAP financial measures to the comparable GAAP measure is included in this Appendix Gross Margin & Adj. Gross Margin, excl. LIFO Tons Shipped, thousands Average Selling Price per Ton Adj. EBITDA, excl. LIFO & Net
Slide 14: Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO
Non-GAAP Reconciliation: Adjusted EBITDA, excl. LIFO
Slide 15: Non-GAAP Reconciliation: Adjusted Net Income, Leverage, & Availability
Non-GAAP Reconciliation: Adjusted Net Income, Leverage, & Availability