Reliance Inc.

Reliance Inc.

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Market Cap$20.73B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Reliance Inc.Reliance Inc.23.51.21%12%1.30.3

Earnings Call Q2 2026

July 23, 2026 - AI Summary

Strong Q2 performance (best-in-class execution) - Revenue grew +27% YoY on stronger-than-anticipated shipment volumes and pricing. - Non-GAAP gross profit: $1.3B, up +11% vs. Q1 2026 and +20% vs. Q2 2025. - Non-GAAP pretax income: $429M, up +40% YoY. - Non-GAAP EPS: $6.27, up +42% YoY (highest EPS result since Q2 2023). - Profitability supports the story of pricing + operating leverage, plus continued industry outperformance.
U.S. DHS border wall contract is the key driver of upside (and mix/profit effects) - Border wall shipments accounted for ~5.1% of Q2 volumes (company also cited ~5.1 percentage point contribution to the sequential ton growth). - Tons sold increased +7% sequentially and +10.8% YoY (vs. prior expectation of +1% to +3% sequentially). - Q3 volume contribution: company expects additional ~2% improvement in Q3 and indicated the contract should operate near a full shipment run rate into mid-2027, subject to metal supply and customer inventory drawdown speed. - Profit impact: border wall contributed ~41 cents per diluted share; company expects project margin/OpEx efficiency to hold as volumes scale (higher volumes can improve efficiency).
Guidance/outlook: Q3 EPS growth expected; full-year capex steady - Q3 2026 non-GAAP EPS forecast: $6.40 to $6.60, up +76% to +81% YoY. - Q3 includes estimated LIFO expense ~$75M or ~$1.10 per diluted share (so LIFO remains an important swing factor). - Longer-term demand optimism: improving infrastructure, plus semiconductor, general manufacturing, aerospace; company believes it is well-positioned through H2 2026 into next year. - Full-year 2026 capex: ~$300M, with about half allocated to strategic growth investments (processing capabilities, footprint expansion, service improvements).

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$373.43

Target Price by Analysts

8% downsideReliance Target Price DetailsTarget Price
$233.72

Current Fair Value

42.4% downside

Overvalued by 42.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$20.73 Billion
Enterprise Value$22.51 Billion
Dividend Yield$4.90 (1.21%)
Earnings per Share$14.07
Beta0.96
Outstanding Shares51,340,000

Return

Return on Equity12.09%ROE
Return on Assets8.02%
Return on Invested Capital12.48%

Valuation & Multiples

P/E Ratio23.47P/E Ratio
PEG61.5PEG
Price to Sales1.32Price to Sales
Price to Book Ratio2.82Price to Book Ratio
Enterprise Value to Revenue1.42
Enterprise Value to EBIT18
Enterprise Value to Net Income25
Total Debt to Enterprise0.09
Debt to Equity0.27Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 22, 2026
EPS Estimate
$5.47
Average shareholder expectation
Revenue Estimate
$4.26 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 21, 2026
EPS Estimate
$6.62
Average shareholder expectation
Revenue Estimate
$4.66 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000 23.67%
Total Calls- 100.00%
Total Puts- 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %3.26% 76.66%
Total Invested$626.17M 95.04%
Investors Holding228 424.00%

ESG Score

No data

About Reliance Steel & Aluminum Co.

CEO: James Hoffman

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the official 'revenue estimates' for all tax bills, directly influencing corporate tax structures and capital investment credits. Its technical expertise critically shapes the fiscal environment for the steel industry.

Finance

As the most powerful economic committee, it controls taxation and trade. Its decisions on corporate tax policy, tariffs on steel imports/exports, and trade agreements directly and significantly impact Reliance's profitability and competitiveness.

Appropriations

This committee directly allocates discretionary federal spending. Its subcommittees determine funding for defense programs, infrastructure projects, and other areas that are significant consumers of steel, directly influencing Reliance's order books.

Armed Services

This committee oversees the Department of Defense and authorizes the NDAA. Defense spending is a significant consumer of steel and specialized alloys for military equipment, directly impacting demand for Reliance's products.

Energy and Natural Resources

This committee directly impacts the steel industry through national energy policy, which determines energy costs (a major input for steel production), and regulations on public lands affecting access to raw materials for ferroalloy manufacturing.

Environment and Public Works

This committee directly regulates the EPA, impacting environmental compliance costs for steel mills. It also drives the 'infrastructure super-cycle,' which directly benefits construction and materials firms like Reliance by increasing demand for steel.