Reliance Inc.

Reliance Inc.

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Market Cap$20.23B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Reliance Inc.Reliance Inc.25.41.24%11%1.40.3

Earnings Call Q1 2026

April 23, 2026 - AI Summary

Q1 performance strong; volumes & pricing beat expectations - Tons sold reached a record, up 9.4% sequentially and +2.7% YoY, with Reliance outperforming broader industry shipments for the 13th consecutive quarter (service center industry -5.1% YoY in the quarter). - Average selling price (ASP) +5.3% QoQ, exceeding the company’s +3% to +5% expectation; carbon steel, aluminum, and stainless pricing all trended upward on tight supply / extended lead times / improving demand. - Non-GAAP results: Sales +15% YoY, non-GAAP pretax income +30% YoY to $354m, non-GAAP EPS +37% YoY to $5.16—a key driver of the positive momentum was operating leverage from the stronger shipments and pricing.
Guidance for Q2 2026: healthy earnings growth, but margin tailwinds less strong than Q1 - Company expects Q2 non-GAAP diluted EPS of $5.15–$5.35 (+16% to +21% YoY), including estimated LIFO expense of ~$37.5m (~$0.54/share). - Management commentary: Q1 had a stronger price-increase environment, allowing margin expansion; Q2 pricing should remain healthy but not rise as fast as Q1, with inventory cost “normalization” toward the end of the quarter (i.e., less upside than Q1).
Key contract wins (DHS border wall + defense); revenue up to ~$3B, starting ramp—may pressure consolidated gross margin slightly - In Q1, Reliance’s AMI Metals secured two significant U.S. government contracts: - Department of Homeland Security border wall (company clarified Q1 results did not include any contribution). - Joint Strike Fighter / Lockheed-related defense project (upsized renewal). - Total contract value “up to” ~ $3B in revenue; DHS begins shipping in April, Q2 includes initial volumes, with expectation for higher activity in Q3 and beyond, but no committed shipment schedule (cadence risk). - Management expects border wall to be an earnings contributor due to low operating cost structure and high operating leverage (even with lower selling prices than the rest of the business). However, border wall mix can modestly reduce consolidated gross margin.

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$364.80

Target Price by Analysts

9.6% downsideReliance Target Price DetailsTarget Price
$243.63

Current Fair Value

39.7% downside

Overvalued by 39.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$20.23 Billion
Enterprise Value$22.05 Billion
Dividend Yield$4.90 (1.24%)
Earnings per Share$14.07
Beta0.96
Outstanding Shares51,633,000

Return

Return on Equity11.32%ROE
Return on Assets7.46%
Return on Invested Capital11.51%

Valuation & Multiples

P/E Ratio25.39P/E Ratio
PEG76.13PEG
Price to Sales1.41Price to Sales
Price to Book Ratio2.93Price to Book Ratio
Enterprise Value to Revenue1.49
Enterprise Value to EBIT19.62
Enterprise Value to Net Income27
Total Debt to Enterprise0.09
Debt to Equity0.29Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
April 22, 2026
EPS Estimate
$4.63
Average shareholder expectation
Revenue Estimate
$3.89 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 22, 2026
EPS Estimate
$5.37
Average shareholder expectation
Revenue Estimate
$4.23 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.2367 17.15%
Total Calls56,200 43.37%
Total Puts13,300 16.88%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %79.91% 1.34%
Total Invested$12.62B 2.41%
Investors Holding650 2.00%

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.