News about Reliance Steel

Reliance, Inc. (NYSE: RS) reported record third-quarter 2026 net sales of $5.21 billion, up 13% sequentially, with record tons sold rising 4.3%. EPS was $7.84, and non-GAAP EPS was $8.02, up 120% year over year and well above management's guidance of $6.40 to $6.60. Pretax income rose 115% year over year to $531.9 million, helped by favorable carbon steel pricing and contributions from a U.S. Department of Homeland Security border wall contract. Higher-than-expected LIFO expense reduced earnings by $1.64 per share, while the gross profit margin was 27.9%. The company raised its share repurchase program to $2.5 billion.