Reliance Q3 sales jump 43% on higher steel prices, border wall project ramp-up
RS•Reliance’s third-quarter net sales rose 43% year over year to $5.21 billion, while adjusted EPS increased 120% to $8.02; both beat analyst expectations. The company raised its share repurchase authorization to $2.5 billion and expects fourth-quarter adjusted EPS of $7.40 to $7.60.
1. Sales and earnings rise
Reliance reported third-quarter net sales of $5.21 billion, up 43% year over year and above the $4.66 billion analyst consensus. Adjusted EPS rose 120% to $8.02, compared with the $6.66 consensus; reported EPS was $7.84.
2. Prices and project contribute
Higher-than-expected carbon steel prices lifted average selling prices and contributed to record net sales. The ramp-up of the U.S. border wall contract made a meaningful contribution to third-quarter earnings and tons shipped. CEO Karla Lewis cited healthy demand and tight supply across key end markets as support for prices and shipment volumes.
3. Fourth-quarter outlook
Reliance expects fourth-quarter 2026 adjusted EPS of $7.40 to $7.60 and tons sold to rise 13.5% to 15.5% year over year, including the border wall project. It expects average selling price per ton to increase 1% to 3% sequentially and raised its share repurchase authorization to $2.5 billion.
