en.Wedoany.com Reported - On May 5, 2026, Canadian mining company Russel Metals Inc. released its financial report for the first quarter of 2026, covering the period ended March 31, 2026. The company achieved record quarterly revenue of $1.4 billion, representing a 21% increase year-over-year and a 30% increase quarter-over-quarter. EBITDA reached $124 million, up 44% year-over-year and 80% quarter-over-quarter. Shipments from the Metal Service Centers segment also hit a new high, increasing 32% compared to the previous quarter, primarily driven by the acquisition and integration of Kloeckner assets.

During the first quarter of 2026, Russel Metals completed the sale of its Delta (BC) branch property, generating cash proceeds of $39 million and a pre-tax gain of $36 million. This move is part of the plan to streamline its business footprint in Western Canada, and the company has already exceeded its $100 million capital reduction target. The company also announced an increase in its quarterly dividend to $0.44 per share, payable on June 15, 2026, marking the fourth consecutive year of dividend increases.

Regarding its capital structure, the company reported net debt of $170 million and total available liquidity of $500 million. DBRS Morningstar reaffirmed its investment-grade credit rating of BBB (low) with a stable trend. During the quarter, the company invested $18 million in capital expenditures and returned $31 million in capital to shareholders, including $24 million in dividends and $7 million in share repurchases.

Russel Metals anticipates that recent steel price levels will be sustained due to strong demand and tariff measures. The company expects average margins in its Service Centers segment to improve slightly in the second quarter, with shipment volumes remaining near first-quarter levels. In the medium term, the company expects to benefit from the rebuilding of the U.S. industrial manufacturing base and Canadian infrastructure projects. The Energy Field Stores segment is expected to continue gaining market share and maintain solid margins in 2026.

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