Reliance Q2 sales rise 27%, beat estimates on record shipments
RS•Q3 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
Q2 results beat estimates
- 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
