Ryerson Holding Corporation reported a total revenue of $4.57 billion for the fiscal year ending December 31, 2025, reflecting a slight decrease of 0.6% compared to $4.60 billion in 2024. The company experienced a marginal increase in shipping volumes, with tons sold rising by 0.5% year-over-year, but this was offset by a 1.1% decline in average selling prices. The gross margin for the year was 17.1%, down from 18.1% in the previous year, primarily due to increased costs of materials and a challenging pricing environment influenced by tariff policies and subdued demand.
In terms of profitability, Ryerson reported a net loss attributable to the company of $56.4 million, or $1.76 per diluted share, compared to a net loss of $8.6 million, or $0.26 per diluted share, in 2024. The significant increase in losses was attributed to various factors, including advisory fees related to the merger with Olympic Steel, impairment charges, and increased operational expenses. Adjusted net loss for 2025, which excludes one-time charges, was $50.2 million, a substantial increase from the adjusted net loss of $6.1 million in 2024.
Strategically, Ryerson completed the acquisition of Olympic Steel on February 13, 2026, which is expected to enhance its position as North America's second-largest metals service center. The merger is anticipated to generate approximately $120 million in annual synergies by 2028 through improved procurement and operational efficiencies. In addition to this major acquisition, Ryerson also focused on smaller bolt-on acquisitions in previous years, including Production Metals in 2024.
Operationally, Ryerson maintained a workforce of approximately 4,300 employees across 103 facilities in North America and three in China. The company serves around 40,000 customers, with no single customer accounting for more than 6% of total sales. The company’s liquidity position improved, with total liquidity reaching $502 million at the end of 2025, up from $451 million in 2024. Ryerson's capital expenditures for the year were $51.5 million, reflecting ongoing investments in processing capabilities and facility upgrades.
Looking ahead, Ryerson's management expressed cautious optimism, noting that while the economic environment remains uncertain, the company is well-positioned to leverage its expanded capabilities and customer base post-merger. The company plans to continue focusing on operational efficiencies and enhancing its value-added services to drive future growth. However, management also acknowledged the cyclical nature of the metals distribution industry and the potential impact of fluctuating commodity prices and market conditions on financial performance.
About Ryerson Holding Corp
Ryerson Holding Corporation is a leading North American processor and distributor of industrial metals, offering a broad product range including stainless steel, aluminum, and carbon steels. The company provides value-added processing, fabrication services, and supply chain solutions to diverse manufacturing industries across North America and China. Its extensive network, strategic acquisitions, and focus on customer service create a competitive advantage in the fragmented metals industry.
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