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

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

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(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.)