RUSSEL METALS ANNOUNCES 2025 THIRD QUARTER RESULTS

Core Insights - Russel Metals Inc. reported financial results for the three months ended September 30, 2025, showing revenues of $1.2 billion, EBITDA of $75 million, and earnings per share (EPS) of $0.63, reflecting a 10% increase in revenues compared to the same period in 2024 [2][5][7]. Financial Performance - Revenues for Q3 2025 were $1.2 billion, consistent with Q2 2025, and a 10% increase from $1.1 billion in Q3 2024 [2][7]. - EBITDA for Q3 2025 was $75 million, up from $67 million in Q3 2024 but down from $108 million in Q2 2025 [5][6]. - Net income for Q3 2025 was $35 million, unchanged from Q3 2024, and EPS was $0.63, compared to $0.59 in Q3 2024 and $1.07 in Q2 2025 [2][5][6]. Capital Structure and Shareholder Returns - The company returned $38 million to shareholders through share buybacks and dividends, with $24 million in dividends paid in Q3 2025 [9][16][17]. - As of September 30, 2025, the company had total available liquidity of $600 million, which would decrease to $435 million post-Kloeckner acquisition [18] . Strategic Initiatives - The company announced the acquisition of seven U.S. metals service centers from Kloeckner for approximately US$51.5 million, expected to close in Q4 2025 or Q1 2026 [11][15]. - Business improvement initiatives in Western Canada include the sale of two properties for over $40 million and a restructuring charge of $4 million related to the closure of the Delta service center [13][6]. Market Conditions and Outlook - Market prices for steel and aluminum products were positively impacted by tariffs imposed earlier in 2025, with prices stabilizing after a period of moderation [10][20]. - The company expects to benefit from U.S. industrial manufacturing growth and infrastructure investments, positioning itself for increased market share through ongoing investments [21].