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Earnings

RUSSEL METALS ANNOUNCES 2025 ANNUAL & FOURTH QUARTER RESULTS

By The Northwire Desk — AI Analysis Feb 11, 2026 · 17:01 RUS · 51.45 RUSSEL METALS INC.
RUS · Price

Executive Summary

  • Russel Metals reported FY 2025 revenue of C$4.6 bn (+9% YoY) and EBITDA of C$337 m (+13% YoY); Q4 2025 revenue was C$1.1 bn and EBITDA C$69 m.
  • Closed the Kloeckner Metals acquisition on 31 Dec 2025 for ~US$95 m, expected to add ≈US$500 m of annual revenue and push U.S. contribution above 50%.
  • Returned C$96 m in dividends and repurchased C$86 m of common shares; declared a Q1‑2026 dividend of $0.43 per share (payable 16 Mar 2026).

Key Details

  • Financial Highlights – FY 2025 vs. 2024
  • Revenue: C$4,642 m vs. C$4,261 m
  • EBITDA: C$337 m vs. C$299 m
  • Net income: C$169 m vs. C$161 m

  • Basic EPS: $3.01 vs. $2.73

  • Q4 2025 Highlights

  • Revenue: C$1,094 m (+5% YoY)
  • EBITDA: C$69 m (+12% YoY)

  • EPS: $0.55 vs. $0.47 in Q4‑2024

  • Acquisition – Kloeckner Metals

  • Seven U.S. service centers acquired for ~US$95 m (subject to working‑capital adjustments).

  • Expected incremental revenue ≈ US$500 m annually; U.S. share of total revenues to exceed 50%.

  • Capital Allocation

  • Dividends paid FY 2025: C$96 m (down from C$98 m in 2024).
  • Share repurchases FY 2025: C$86 m (2.1 m shares, ~4% of beginning share count; avg. $41.06 per share).

  • Declared Q1‑2026 dividend: $0.43/share, payable 16 Mar 2026 to shareholders of record 27 Feb 2026.

  • Cash Flow

  • Operating cash generated FY 2025: C$200 m (Q4 2025: C$105 m).
  • Capital expenditures FY 2025: C$74 m (including C$14 m in Q4).

  • Targeted capex ≈ $100 m per year for the next two years.

  • Liquidity & Debt

  • Net debt to invested capital: ~10% at year‑end.
  • Liquidity: C$515 m.
  • Issued $300 m of 4.423% senior unsecured notes due 2030 (March 2025).

  • Amended/extended credit facility; main facilities now mature 2029.

  • Credit Rating

  • S&P upgraded rating to BBB- (from BB+) on 27 Oct 2025; DBRS also rates investment grade.

  • Operational Metrics

  • Metal service center tonnage shipped FY 2025: ~1.6 m tons (record, +15% YoY).

  • Gross margin FY 2025: 21.8% (up 90 bps YoY); Q4 2025: 21.2% (up 80 bps YoY).

  • Outlook

  • Anticipates modest margin improvement in Q1‑2026 as steel prices stabilize and seasonal demand recovers.
  • Medium‑term growth expected from U.S. industrial rebuilding, Canadian infrastructure projects, and continued value‑added equipment investments.

Notable Quotes

(Quotes were not included in the release excerpt; none to report.)

Read the original news release →

More from RUSSEL METALS INC.

May 05, 2026 · 17:01

Russel Metals Confirms Kloeckner Integration With Record Q1 Earnings, Dividend Hike

Earnings Jan 02, 2026 · 11:27

Russel Metals closes acquisition of 7 service centres

M&A / Property Jan 02, 2026 · 07:00

RUSSEL METALS CLOSES ACQUISITION OF SEVEN SERVICE CENTERS FROM KLOECKNER

M&A / Property Nov 05, 2025 · 17:11

SEDAR Interim Financial Statements

None Nov 05, 2025 · 17:01

RUSSEL METALS ANNOUNCES 2025 THIRD QUARTER RESULTS

Earnings Sep 29, 2025 · 02:21

Russel to acquire service centres for $118.6M (U.S.)

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