Reliance Inc Q1 adjusted EPS eases past estimates, partly on strong pricing

Reliance

22/04/2026 21:17

Overview

U.S. metals distributor's Q1 net sales and adjusted EPS beat analyst expectations

Company repurchased $234 mln of common stock during the quarter

Results driven by record tons sold and higher pricing across key product categories

Outlook

Reliance expects Q2 2026 tons sold to rise 1%-3% from Q1 2026

Company sees Q2 2026 average selling price per ton up 1.5%-3.5% from Q1 2026

Reliance forecasts Q2 2026 non-GAAP EPS of $5.15-$5.35

Result Drivers

SHIPMENT VOLUME - Record tons sold increased 2.7% year-over-year and 9.4% sequentially, exceeding management's expectations and outpacing industry trends

HIGHER SELLING PRICES - Average selling price per ton sold rose 5.3% sequentially and 12.6% year-over-year, supported by higher carbon steel, aluminum and stainless steel pricing

Company press release: ID:nGNX8ThV5x

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$4.03 bln
$3.91 bln (8 Analysts)
Q1 Adjusted EPS
Beat
$5.16
$4.67 (8 Analysts)
Q1 EPS
$5.10
Q1 Adjusted Gross Margin
29.1%
Q1 Adjusted Pretax Profit
$353.8 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the iron & steel peer group is "buy."

Wall Street's median 12-month price target for Reliance Inc is $325.00, about 3.3% below its April 21 closing price of $335.99

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)