Reliance (NYSE:RS) Releases Earnings Results, Beats Expectations By $0.83 EPS

Key Points

• Reliance beat quarterly expectations, reporting EPS of $6.27 versus analysts’ estimate of $5.44. Revenue also came in above forecasts at $4.63 billion, compared with the expected $4.25 billion.
• The company raised its Q3 2026 guidance to an EPS range of 6.400 to 6.600, signaling improved outlook after the strong earnings release.
• Shares were up about 0.7% in mid-day trading following the report, with the stock recently trading near $386.25.

Reliance (NYSE:RS - Get Free Report) released its quarterly earnings results on Wednesday. The industrial products company reported $6.27 earnings per share for the quarter, topping analysts' consensus estimates of $5.44 by $0.83, FiscalAI reports. Reliance had a return on equity of 11.37% and a net margin of 5.42%.The business had revenue of $4.63 billion for the quarter, compared to analysts' expectations of $4.25 billion. Reliance updated its Q3 2026 guidance to 6.400-6.600 EPS.

Reliance Trading Up 0.7%

Shares of Reliance stock traded up $2.83 during mid-day trading on Wednesday, hitting $386.25. 523,074 shares of the stock were exchanged, compared to its average volume of 352,769. The stock has a market capitalization of $19.72 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97. Reliance has a twelve month low of $260.31 and a twelve month high of $419.83. The company has a current ratio of 4.39, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. The company has a 50-day simple moving average of $385.14 and a 200 day simple moving average of $345.64.

Insider Buying and Selling at Reliance

In other news, CFO Arthur Ajemyan sold 3,500 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $358.12, for a total value of $1,253,420.00. Following the completion of the transaction, the chief financial officer owned 16,840 shares of the company's stock, valued at $6,030,740.80. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Reliance

A number of hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. raised its holdings in Reliance by 86.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 108 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 50 shares during the last quarter. Quarry LP acquired a new position in Reliance in the third quarter valued at $32,000. Greenline Wealth Management LLC acquired a new position in Reliance in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust lifted its position in Reliance by 87.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 118 shares of the industrial products company's stock worth $34,000 after buying an additional 55 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Reliance during the third quarter worth about $39,000. Institutional investors and hedge funds own 79.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on RS shares. BMO Capital Markets boosted their target price on Reliance from $320.00 to $350.00 and gave the stock a "market perform" rating in a research report on Monday, April 27th. Seaport Research Partners raised their price target on Reliance from $340.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. The Goldman Sachs Group initiated coverage on shares of Reliance in a report on Wednesday, April 1st. They set a "neutral" rating and a $300.00 target price for the company. Weiss Ratings raised shares of Reliance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Reliance from $376.00 to $372.00 and set an "equal weight" rating for the company in a research note on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $363.50.

Reliance Company Profile

Reliance Steel & Aluminum Co NYSE: RS is a leading metals service center company that distributes and processes a broad array of metal products. The company offers cut-to-length, shearing, blanking, sawing, bending, machining and value-added services for carbon and alloy steel, stainless steel, aluminum, brass, titanium and specialty metal alloys. Its products serve diverse end markets, including energy, infrastructure, general manufacturing, transportation, aerospace and defense.

Founded in 1939 in Los Angeles, Reliance Steel & Aluminum has grown through a combination of organic expansion and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.