Reliance (RS) Q3 2026 Earnings Call Transcript

Reliance (RS) delivered record quarterly results in Q3 2026, led by $5.21 billion in net sales, up 12.6% sequentially. Non-GAAP EPS was $8.02, a 120% increase year over year, and exceeded the company’s guidance range of $6.40 to $6.60. Tons sold reached 1.87 million, a record and 15.6% higher year over year, with average selling price at $2,815 per ton, up 8.2% sequentially. Gross profit margin fell slightly to 27.9% due to higher-than-expected LIFO expense, including LIFO expense of $187.5 million. The quarter also included a border wall contribution of $0.74 EPS versus an expected $0.60. Reliance authorized a $2.5 billion share repurchase program on Oct. 20, 2026.