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Reliance 8-K Report, Financial Results (Jul 22, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 22, 2026
Period End
July 22, 2026
Security
RS
In the record · 2016–202610-K1110-Q338-K74

RS filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 74 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’16Oct ’16
  2. Leadership change8-K · Oct ’21Oct ’21
  3. Leadership change8-K · Oct ’25Oct ’25

01—Abstract

Summary

Summary of the 8-K filed July 22, 2026. Cited figures are marked; the original filing is the authoritative source.

Reliance, Inc. (NYSE: RS) reported second quarter 2026 results for the period ended June 30, 2026, in a press release furnished as Exhibit 99.1.

Net sales were $4.63 billiona, up 15.0% sequentially from $4.03 billion in the first quarter, with record tons sold of 1,790.1 thousand, up 7.0% sequentially. Diluted EPS was $6.29 and non-GAAP diluted EPS was $6.27, up 21.5% sequentially and 42% year-over-year, above the high end of management's $5.15 to $5.35 guidance range. Pretax income was $429.8 million, up 41% year-over-year as reported in the release's commentary.

Results absorbed $1.64b per share of LIFO expense versus management's $0.54 expectation, while the U.S. border wall project contributed $0.41 per share. Gross profit margin was 28.1%, down 100 basis points sequentially, mainly from higher LIFO expense and the border wall project. Non-GAAP FIFO gross profit margin rose to 30.5% from 30.1%.

Cash provided by operations was $162.2 millionc and free cash flow was $68.8 million. The company had $235.4 million of cash and total debt of $1.7 billion, with $520 million drawn on its $1.5 billion revolver. No shares were repurchased in the quarter, and about $529 million remained under the repurchase program.

The Board declared a quarterly dividend of $1.25d per share on July 17, 2026, payable August 28, 2026. For the third quarter of 2026, management expects non-GAAP EPS of $6.40 to $6.60, including about $0.60 per share from border wall shipments and LIFO expense of $75.0 million, or $1.10 per diluted share.

Excluding the border wall project, tons sold are expected to decline 2% to 4% sequentially, with average selling price per ton up 1% to 3%. A conference call is scheduled for July 23, 2026.

02—Key points

Key Highlights

  1. Net sales of $4.63 billion, up 15.0% sequentially, with record quarterly tons sold of 1,790.1 thousand, up 7.0% sequentially
  2. Diluted EPS of $6.29 and non-GAAP diluted EPS of $6.27, above the high end of the $5.15 to $5.35 guidance range; non-GAAP EPS up 42% year-over-year
  3. LIFO expense of $1.64 per diluted share versus management's $0.54 expectation, an incremental $1.10 per share headwind driven by carbon steel and aluminum costs
  4. U.S. border wall project contributed $0.41 per share to Q2 earnings, more than double the $0.15 to $0.20 expectation, and 5.1% of the sequential tons sold increase
  5. Gross profit margin of 28.1%, down 100 basis points sequentially; non-GAAP FIFO gross profit margin rose to 30.5% from 30.1%
  6. Q3 2026 non-GAAP EPS outlook of $6.40 to $6.60, including about $0.60 per share from border wall shipments and $1.10 per share of LIFO expense
  7. Cash from operations of $162.2 million and free cash flow of $68.8 million; no share repurchases in Q2, with about $529 million remaining under the repurchase program

03—Questions

Frequently Asked Questions

  1. What drove the earnings beat in the second quarter of 2026?

    Non-GAAP EPS of $6.27 exceeded the high end of management's $5.15 to $5.35 guidance. Higher shipments, improved gross profit dollars per ton, strong pricing, market share gains, and contributions from the U.S. border wall project drove pretax income up 41% year-over-year to $429.8 million. The beat occurred despite LIFO expense of $1.64 per diluted share, well above the $0.54 expectation.

  2. How much did the U.S. border wall project contribute?

    The filing states the project contributed $0.41 per share to second quarter earnings and 5.1% of the sequential increase in tons sold. It reduced FIFO gross profit margin by 40 basis points, but its below-average operating costs per ton more than offset that impact, adding about 30 basis points to pretax income margin. The company expects about $0.60 per share from the project in the third quarter.

  3. What is the outlook for the third quarter of 2026?

    Management expects non-GAAP EPS of $6.40 to $6.60, inclusive of LIFO expense of $75.0 million, or $1.10 per diluted share. Excluding the border wall project, tons sold are expected to fall 2% to 4% sequentially, while average selling price per ton is expected to rise 1% to 3%. Including the project, tons sold are expected to be up 9% to 11% compared with the third quarter of 2025.

  4. How is the company's balance sheet and capital return position?

    As of June 30, 2026, the company had $235.4 million of cash and total debt of $1.7 billion, including $520 million outstanding under its $1.5 billion revolving credit facility. Net debt to total capital was 16.2%. No shares were repurchased in the second quarter, and about $529 million remained under the repurchase program. The Board declared a $1.25 per share quarterly dividend payable August 28, 2026.

04—Continue

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