Russel Metals Reports Record Revenue of $1.7 Billion for Second Quarter

The company reported an adjusted EBITDA of $154 million, a 65% jump from the first quarter of 2026. This performance was supported by record shipment volumes, with tonnage rising 28% compared to the second quarter of 2025. Gross margins also saw a notable expansion, climbing 130 basis points quarter-over-quarter to reach 22.6%.

Operations in the United States played a central role in the company's financial results, accounting for 54% of total revenue and 61% of segment operating profits. Management signaled intent to continue prioritizing this market, citing ongoing opportunities in industrial manufacturing and infrastructure development. The firm maintains a strong liquidity position of $554 million, supported by the recent extension of its $450 million credit facility through May 2030.

Looking ahead, the company expects market dynamics to remain stable, with third-quarter shipment volumes and margins projected to hold steady near first-half levels. Strategic efforts to refine the portfolio include the pending sale of Color Steels Inc., expected to close in the second half of the year, and an ongoing focus on facility modernization and value-added processing.