Q2 2025 Performance - Ryerson generated Q2 2025 revenue of $1.17 billion, aligning with guidance, with average selling prices increasing by 2.8% and tons shipped up fractionally compared to the prior quarter[8] - Net income attributable to Ryerson Holding Corporation was $1.9 million, or diluted income per share of $0.06, and Adjusted EBITDA, excluding LIFO, reached $45.0 million[8] - Ryerson ended Q2 2025 with debt of $510 million and net debt of $479 million, compared to $498 million and $464 million, respectively, at the end of Q1 2025[8] - The company's LTM Free Cash Flow Yield is 19.8%[26] Market Trends and Share - Ryerson gained market share while increasing transactional business mix for the fifth consecutive quarter, partially offsetting recessed contractual business[8] - Ryerson's Q2 shipments reflected relative strength in the consumer durable sector and HVAC sector on a QoQ volume basis, offset by weakness in construction and commercial ground transportation[17] - Ryerson grew North American market share in Q2 2025 compared to the industry as measured by the MSCI, with particular growth in carbon long, carbon plate, and stainless long products[18] - North American Industry shipments declined by 2.1% in the second quarter while Ryerson North American shipments declined by 1.2%, implying Ryerson market share growth[8] Q3 2025 Guidance - Ryerson anticipates Q3 2025 net sales between $1.14 billion and $1.18 billion, net income between $0 million and $2 million, and Adjusted EBITDA, excluding LIFO, between $40 million and $45 million[22] - Q3 2025 guidance assumes shipments will decrease between 2% and 4% due to demand environment challenges and normal seasonality patterns, while average selling prices are expected to increase 1% to 3%[24]