Ryerson Holding’s Q4 2025 earnings call focused on a 12% drop in quarterly sales to $420 million and a contraction in operating margin to 4.2%. Management attributed the revenue decline to weakened industrial and construction end-markets, coupled with elevated energy and logistics expenses. The company introduced a $15 million fixed-cost reduction initiative targeting procurement efficiencies and headcount optimization. Executives also signaled early-2026 volume stabilization, expecting improved gross margins from streamlined operations and gradual market recovery.