Reliance's operating margin expanded from a 5.0% trough in 2025Q4 to 10.6% in 2026Q3 on 42.8% revenue growth, with gross margin resilience at 27.9% suggesting durable pricing power across its 300+ service centers that appears unmatched by mill peers.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth accelerated from -6.3% in 2024Q4 to +42.8% in 2026Q3, lifting operating margin from 5.0% to 10.6% on SG&A leverage that compressed overhead from 19.4% to 16.0% of sales, though the durability of this margin profile warrants investigation given LIFO accounting effects.
Stronger-than-expected demand in steel and aluminum end-markets is driving revenue and earnings growth.
Improved pricing conditions are lifting revenue and EPS above current consensus estimates.
Potential for earnings to exceed expectations, leading to analyst upgrades and investor confidence.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 21, 2026 | $8.02+17.4% vs $6.83 | $5.2B+10.0% vs $4.7B |
Q3 2026 Jul 22, 2026 | $6.27+14.6% vs $5.47 | $4.6B+8.7% vs $4.3B |
Q2 2026 Apr 22, 2026 | $5.16+11.4% vs $4.63 | $4.0B+3.5% vs $3.9B |
Q1 2026 Feb 18, 2026 | $2.40-15.2% vs $2.83 | $3.5B+1.5% vs $3.4B |
Reliance's Q3 2026 earnings surge 120.3%, beating estimates as higher steel prices, record shipments and border wall contributions fuel strong sales growth.
Reliance (RS) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Reliance NYSE: RS reported record quarterly net sales in the third quarter of 2026, supported by higher metal prices, increased shipment volumes and continued contributions from its U.S. Department of Homeland Security border wall contract.
Reliance, Inc. ( RS ) Q3 2026 Earnings Call October 22, 2026 11:00 AM EDT Company Participants Karla Lewis - President, CEO & Director Stephen Koch - Executive VP & COO Arthur Ajemyan - CFO & Senior VP Conference Call Participants Kimberly Orlando - ADDO Investor Relations Katja Jancic - BMO Capital Markets Equity Research Nicklaus Cash - Goldman Sachs Group, Inc., Research Division Martin Englert - Seaport Research Partners Samuel McKinney - KeyBanc Capital Markets Inc., Research Division Bennett Moore - JPMorgan Chase & Co, Research Division Lawson Winder - BofA Securities, Research Division Presentation Operator Greetings, and welcome to the Reliance, Inc. Third Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.
Benchmark RS against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Reliance Steel & Aluminum Co. (RS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $417.00 | $21.29B | 19.33 | 3.32% | 6.38% | 15.05% | 1.16% | |
| $196.89 | $8.1B | 21.07 | 4.51% | 15.62% | 18.25% | 0.58% | |
| $222.90 | $32.15B | 16.34 | 3.63% | 8.82% | 21.07% | 0.88% | |
| $62.28 | $6.89B | 10.59 | 20.46% | 6.98% | 14.62% | 1.21% | |
| $113.27 | $6.33B | 28.49 | 6.37% | 5.55% | 15.86% | 3.06% | |
| $5.90 | $397.89M | -1.09 | -10.05% | -24.47% | -193.85% | — |
Reliance Steel & Aluminum Co. (RS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Reliance Steel & Aluminum Co. (RS) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 21, 2026·SEC
Jul 22, 2026·SEC
May 21, 2026·SEC
Get notified when RS posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
Reliance Steel & Aluminum Co. (RS) stock FAQ — growth, dividends, profitability & financials explained
Reliance Steel & Aluminum Co. (RS) reported $17.37B in revenue over the trailing twelve months. Revenue was $14.29B in fiscal year 2025. That is 2086% more than the $654.0M of fiscal year 1996.
Reliance Steel & Aluminum Co. (RS) grew revenue by 24.7% over the trailing twelve months, compared with the twelve months before.
Yes. Reliance Steel & Aluminum Co. (RS) earned $1.11B in net income over the trailing twelve months (a 6.4% net margin).
Yes. Reliance Steel & Aluminum Co. (RS) pays a dividend that yields 1.16% at the current price, a moderate yield.
Reliance Steel & Aluminum Co. (RS) had a return on equity (ROE) of 15.1% over the trailing twelve months. That is above the market's typical 10-15%.
Reliance Steel & Aluminum Co. (RS) generated $491.9M in free cash flow over the trailing twelve months.
