Sep 2026 (Q3 FY26) — Oct 22, 2026
Reliance, Inc. Q3 FY26 — Record Sales and Strong Earnings Driven by Favorable Market Conditions
Read the full callReliance earnings: last reported Thu, 22 Oct 2026, for the quarter ended Sep 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 4,026 | +15.5% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 9.1 | +1.3 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 265 | +32.6% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
25 of 33 judged targets kept · 5 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 average selling price per ton | up 1.5% to 3.5% | Jun 2026 | Our second quarter average selling price increased 7.8% from the first quarter of 2026, exceeding our expectation of up 1.5% to 3.5%. | Achieved |
| Full-year LIFO income/(expense) estimate | we currently estimate LIFO expense of $100 million, mainly from higher carbon and aluminum product costs | Dec 2025 | Higher-than-anticipated carbon and aluminum product costs caused us to increase our full year LIFO expense outlook to $300 million from our prior estimate of $150 million. | Revised Down |
| Full-year capital expenditure budget/cash outlay | capital expenditure budget of $275 million; including carryover spending, total 2026 CapEx spending of $300 million to $325 million | Dec 2025 | For the full year 2026, our capital expenditure outlook remains approximately $300 million with about half allocated to strategic growth investments | On Track |
8 of RELIANCE, INC.'s 38 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 35 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $274.34 on 22 Oct 2025 → $415.62. High $428.49 (10 Aug 2026), low $265.93 (18 Nov 2025).
Overview
Guidance
25 of 33 judged targets kept · 5 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 average selling price per ton | up 1.5% to 3.5% | Jun 2026 | Our second quarter average selling price increased 7.8% from the first quarter of 2026, exceeding our expectation of up 1.5% to 3.5%. | Achieved |
| Full-year LIFO income/(expense) estimate | we currently estimate LIFO expense of $100 million, mainly from higher carbon and aluminum product costs | Dec 2025 | Higher-than-anticipated carbon and aluminum product costs caused us to increase our full year LIFO expense outlook to $300 million from our prior estimate of $150 million. | Revised Down |
| Full-year capital expenditure budget/cash outlay | capital expenditure budget of $275 million; including carryover spending, total 2026 CapEx spending of $300 million to $325 million | Dec 2025 | For the full year 2026, our capital expenditure outlook remains approximately $300 million with about half allocated to strategic growth investments | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 38 tracked commitments, with each call’s wording and source.
Call summaries
Reliance, Inc. Q3 FY26 — Record Sales and Strong Earnings Driven by Favorable Market Conditions
Read the full callReliance, Inc. Q2 FY26 — Record Tons Sold and Strong Profitability
Read the full callReliance, Inc. Q1 FY26 — Record Volumes and Strong Earnings Outperformance
Read the full callEvery analysed call
Financials
Net profit, year on year: +33% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,643 | 3,420 | 3,127 | 3,485 | 3,660 | 3,651 | 3,499 | 4,026 |
| Expenses | 3,292 | 3,147 | 2,985 | 3,210 | 3,348 | 3,391 | 3,332 | 3,658 |
| Operating profit | 352 | 273 | 142 | 274 | 312 | 260 | 166 | 368 |
| Operating margin | 9.7% | 8.0% | 4.5% | 7.9% | 8.5% | 7.1% | 4.8% | 9.1% |
| Interest | 10 | 11 | 10 | 12 | 14 | 14 | 16 | 15 |
| Profit before tax | 350 | 261 | 134 | 262 | 304 | 248 | 155 | 350 |
| Tax rate | 23.3% | 23.3% | 20.6% | 23.6% | 23.0% | 23.3% | 24.5% | 24.0% |
| Net profit | — | 199 | 105 | 200 | — | 190 | 117 | 265 |
| EPS ($ per share) | 4.71 | 3.64 | — | 3.76 | 4.44 | 3.61 | — | 5.13 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 136 | 122 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 4,638 | 5,190 | 5,193 | 6,155 | 7,174 | 7,799 | 7,335 | 7,258 |
| Total liabilities | 3,365 | 2,917 | 2,984 | 3,442 | 3,234 | 2,748 | 2,791 | 3,194 |
| Fixed assets | 1,730 | 1,795 | 1,792 | 1,837 | 1,975 | 2,248 | 2,545 | 2,633 |
| Total assets | 8,045 | 8,131 | 8,107 | 9,536 | 10,330 | 10,480 | 10,022 | 10,373 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 665 | 1,302 | 1,173 | 799 | 2,119 | 1,671 | 1,430 | 831 |
| Cash from investing | -281 | -419 | -188 | -652 | -348 | -484 | -804 | -322 |
| Cash from financing | -404 | -841 | -483 | -529 | -893 | -1,282 | -1,376 | -620 |
| Net cash flow | -26 | 46 | 509 | -383 | 873 | -93 | -762 | -101 |
| Capital expenditure | -240 | -242 | -172 | -237 | -342 | -469 | -431 | -329 |
| Free cash flow | 425 | 1,059 | 1,001 | 563 | 1,777 | 1,203 | 999 | 503 |
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Metals Service Centers | 100% | 100% | 100% | 100% | 100% | 100% | +26.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
38 filings between Dec 1, 2025 and Aug 26, 2026.
Purchases
None
No insider bought shares.
Sales
$15.96M
17 sales by 5 insiders
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Koch Stephen Paul | — | $8.61M | Feb 23, 2026 |
| Smith William A II | — | $2.95M | Jul 28, 2026 |
| Ajemyan Arthur | — | $2.16M | Jul 31, 2026 |
| Lewis Karla R | — | $1.65M | Dec 1, 2025 |
| Colonias Karen Winifred | — | $601.6K | Aug 26, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 26, 2026 | Colonias Karen Winifred Director | Sale | 1,542 | $601.6K |
| Jul 31, 2026 | Ajemyan Arthur SVP, CFO | Sale | 2,200 | $902.2K |
| Jul 28, 2026 | Smith William A II SVP, General Counsel, Corp Sec | Sale | 1,391 | $576.5K |
| Jul 28, 2026 | Smith William A II SVP, General Counsel, Corp Sec | Sale | 962 | $398.2K |
| May 20, 2026 | Kamsickas James Kevin Director | Award | 469 | $0 |
| May 20, 2026 | McEvoy Robert Ambrose Director | Award | 469 | $0 |
| May 20, 2026 | Seeger David W Director | Award | 469 | $0 |
| May 20, 2026 | Colonias Karen Winifred Director | Award | 469 | $0 |
| May 20, 2026 | Stotlar Douglas Director | Award | 469 | $0 |
| May 20, 2026 | Baldwin Lisa Director | Award | 469 | $0 |
| May 20, 2026 | Sznewajs John G Director | Award | 469 | $0 |
| May 20, 2026 | DELLAQUILA FRANK J Director | Award | 469 | $0 |
| Apr 27, 2026 | Ajemyan Arthur SVP, CFO | Sale | 1,604 | $575.3K |
| Apr 27, 2026 | Ajemyan Arthur SVP, CFO | Sale | 74 | $26.6K |
| Apr 27, 2026 | Ajemyan Arthur SVP, CFO | Sale | 1,822 | $651.6K |
| Mar 9, 2026 | Smith William A II SVP, General Counsel, Corp Sec | Sale | 4,908 | $1.46M |
| Mar 9, 2026 | Smith William A II SVP, General Counsel, Corp Sec | Sale | 1,707 | $516.5K |
| Mar 5, 2026 | Smith William A II SVP, General Counsel, Corp Sec | Award | 1,324 | $0 |
| Mar 5, 2026 | Ajemyan Arthur SVP, CFO | Award | 1,261 | $0 |
| Mar 5, 2026 | Lewis Karla R President, CEO | Award | 4,539 | $0 |
| Mar 5, 2026 | Koch Stephen Paul Exec. VP, COO | Award | 2,522 | $0 |
| Feb 23, 2026 | Ajemyan Arthur SVP, CFO | Award | 8,864 | $0 |
| Feb 23, 2026 | Koch Stephen Paul Exec. VP, COO | Award | 24,060 | $0 |
| Feb 23, 2026 | Koch Stephen Paul Exec. VP, COO | Sale | 13,888 | $4.46M |
| Feb 23, 2026 | Koch Stephen Paul Exec. VP, COO | Sale | 10,132 | $3.26M |
| Feb 23, 2026 | Koch Stephen Paul Exec. VP, COO | Sale | 40 | $12.9K |
| Feb 23, 2026 | Lewis Karla R President, CEO | Award | 45,591 | $0 |
| Feb 23, 2026 | Lewis Karla R President, CEO | Tax withheld | 23,197 | $0 |
| Feb 23, 2026 | Smith William A II SVP, General Counsel, Corp Sec | Award | 8,864 | $0 |
| Feb 23, 2026 | Smith William A II SVP, General Counsel, Corp Sec | Tax withheld | 4,511 | $0 |
| Feb 23, 2026 | Ajemyan Arthur SVP, CFO | Tax withheld | 4,511 | $0 |
| Dec 1, 2025 | Smith William A II SVP, General Counsel, Corp Sec | Tax withheld | 574 | $160.3K |
| Dec 1, 2025 | Ajemyan Arthur SVP, CFO | Tax withheld | 574 | $160.3K |
| Dec 1, 2025 | Koch Stephen Paul Exec. VP, COO | Sale | 1,695 | $480.1K |
| Dec 1, 2025 | Koch Stephen Paul Exec. VP, COO | Sale | 1,291 | $366.4K |
| Dec 1, 2025 | Koch Stephen Paul Exec. VP, COO | Sale | 80 | $22.8K |
| Dec 1, 2025 | Lewis Karla R President, CEO | Sale | 3,775 | $1.07M |
| Dec 1, 2025 | Lewis Karla R President, CEO | Sale | 2,034 | $577.4K |
| May 21, 2025 | Colonias Karen Winifred Director | Award | 567 | $0 |
| May 21, 2025 | Baldwin Lisa Director | Award | 567 | $0 |
| May 21, 2025 | McEvoy Robert Ambrose Director | Award | 567 | $0 |
| May 21, 2025 | Stotlar Douglas Director | Award | 567 | $0 |
| May 21, 2025 | Seeger David W Director | Award | 567 | $0 |
| May 21, 2025 | Kamsickas James Kevin Director | Award | 567 | $0 |
| May 21, 2025 | DELLAQUILA FRANK J Director | Award | 567 | $0 |
| Feb 24, 2025 | Lewis Karla R President, CEO | Sale | 810 | $244.9K |
| Feb 24, 2025 | Lewis Karla R President, CEO | Sale | 4,790 | $1.45M |
| Feb 24, 2025 | Lewis Karla R President, CEO | Sale | 970 | $295.3K |
| Feb 24, 2025 | Lewis Karla R President, CEO | Sale | 11,317 | $3.40M |
| Feb 24, 2025 | Ajemyan Arthur SVP, CFO | Award | 1,136 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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