Reliance Q2 sales rise 27%, beat estimates on record shipments

Reliance

22/07/2026 21:33

    

    Overview
  
U.S. metals service center's Q2 sales rose 26.5% yr/yr, beating analyst expectations
Adjusted EPS for Q2 climbed 42% yr/yr, beating analyst expectations
Growth driven by record tons sold and U.S. border wall project contribution

    

    Outlook
  
Reliance expects Q3 2026 non-GAAP EPS of $6.40 to $6.60
Company anticipates Q3 2026 tons sold down 2%-4% sequentially, excluding border wall project
Reliance sees Q3 2026 average selling price per ton flat to up 2% sequentially

    

    Result Drivers
  
RECORD SHIPMENTS - Record tons sold, up 7% sequentially and 10.8% yr/yr, outpacing industry trends, supported Q2 results
BORDER WALL PROJECT - U.S. border wall contract contributed $0.41 per share to earnings, more than doubling expectations, and boosted shipment volume
STRONG PRICING - Higher average selling prices, especially for carbon steel and aluminum, supported revenue growth

    
Company press release: ID:nGNXb0xVtK

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Sales
Beat
$4.63 bln
$4.24 bln (8 Analysts)
Q2 Adjusted EPS
Beat
$6.27
$5.41 (7 Analysts)
Q2 EPS
 
$6.29
 
Q2 Adjusted Gross Margin
 
28.10%
 
Q2 Adjusted Pretax Profit
 
$428.70 mln
 
Q2 Free Cash Flow
 
$68.80 mln
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 7 "hold" and 1 "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 $379.50, about 1% below its July 21 closing price of $383.42
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago

    

    Reuters Recommended Reads
  
July 20 - Steel Dynamics Q2 results beat estimates on record shipments, steel price gains
July 21 - Mueller Industries Q2 sales rise on higher volumes and prices
July 20 - Trump says he signed proclamation to adjust tariffs on aluminum imports

    
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(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.)