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Canada's Russel Metals Q3 revenue jumps 56% to record

By Reuters News


Overview

  • Canada metals distributor's Q3 revenue rose 56% yr/yr to record C$1.8 bln

  • Adjusted EPS for Q3 rose to C$2.67 from C$0.60 a year earlier

  • Company completed sale of Color Steels subsidiary for C$42 mln cash


Outlook

  • Russel Metals expects current market dynamics to continue in the near term

  • Company expects Q4 service center daily shipments to be similar to earlier quarters, with fewer operating days

  • Company expects energy field stores to benefit from solid energy activity in 2026


Result Drivers

  • FAVOURABLE MARKET CONDITIONS - Co said strong market conditions across most business units and regions drove revenue and margin improvements

  • MARGIN IMPROVEMENT - Co attributed higher gross margins to improved margin profile at acquired Kloeckner branches and Canadian service centers

  • KLOECKNER ACQUISITION - Increased revenue and EBITDA contributions from former Kloeckner branches supported results


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

C$2.29

Q3 Net Income

C$125.50 mln

Q3 EBIT

C$173.20 mln

Q3 EBITDA

C$199.90 mln


Reuters Recommended Reads

  • Nov 3 - Brazil's Gerdau shuts down steel production in Divinopolis plant

  • Nov 4 - Steelmaker Ternium bets on Mexico lifting outlook as US tariff relief remains uncertain

  • Nov 4 - Materion Q3 sales rise 28% but miss estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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