The massive beat and raised guidance (Q4 EPS up >200% YoY) confirm the border wall contract is a significant earnings catalyst. Watch for continued ramp of the DHS contract and any updates on steel pricing dynamics, which drove higher-than-expected LIFO expense.
Price Chart
Executive Summary
Reliance, Inc. reported Q3 2026 non-GAAP EPS of $8.02, significantly exceeding management's guidance of $6.40-$6.60 and consensus of $6.62, on record net sales of $5.21 billion (up 42.8% YoY). The beat was driven by strong pricing, record tons sold (up 15.6% YoY), and a $0.74 EPS contribution from the U.S. border wall contract. The company also increased its share repurchase authorization to $2.5 billion and guided Q4 2026 non-GAAP EPS to $7.40-$7.60, up over 200% YoY.
Key Financial Metrics
Key Facts
- Non-GAAP EPS of $8.02 vs guidance of $6.40-$6.60 and consensus of $6.62, a 21.1% beat
- Record net sales of $5.21 billion, up 42.8% year-over-year
- Record quarterly tons sold of 1,867.2 thousand, up 15.6% YoY
- Non-GAAP pretax income of $544.2 million, up 116.5% YoY
- Q4 2026 non-GAAP EPS guidance of $7.40-$7.60, up over 200% YoY
- Share repurchase authorization increased to $2.5 billion
- U.S. border wall contract contributed $0.74 EPS in Q3, exceeding the $0.60 expectation
Financial Impact
Non-GAAP EPS of $8.02 beat consensus of $6.62 by 21.1%; record quarterly net sales of $5.21B; Q4 guidance of $7.40-$7.60 implies continued strong YoY growth
Risk Factors
- LIFO expense of $2.74/share was $1.64 above guidance due to higher carbon steel costs
- Trade policy uncertainty and geopolitical conflicts (Iran, Ukraine) could disrupt supply
- Border wall contract contribution may vary with shipment timing
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-006744 |
| Document: f8k_102126.htm | 0001171843-26-006744 |
| Document: 0001171843-26-006744-index-headers.html | 0001171843-26-006744 |
| Document: 0001171843-26-006744-index.html | 0001171843-26-006744 |
| Document: 0001171843-26-006744.txt | 0001171843-26-006744 |
| 8-K Data (Synthetic) | 0001171843-26-006744 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 144 | $425.62 | awaiting T+20 | — | $432.79 (+1.68%) |
Oct 21, 2026 6d ago | 8-K | $417.92 | awaiting T+20 | — | $432.79 (+3.56%) |
Sep 24, 2026 4w ago | GOVT-CONTRACT | $387.28 $415.62 | ▲ +7.32% | ▲ +8.79% | $432.79 (+11.75%) |
Aug 4, 2026 12w ago | Insider Cluster | $414.91 $390.11 | ▲ +5.98% | ▲ +4.74% | $432.79 (−4.31%) |
Jun 23, 2026 18w ago | Institutional Cluster | $398.63 $383.17 | ▼ −3.88% | ▼ −5.04% | $432.79 (+8.57%) |
Apr 22, 2026 26w ago | 8-K | $341.22 $362.26 | ▲ +6.17% | ▲ +1.53% | $432.79 (+26.84%) |
Apr 22, 2026 26w ago | Press Release | $341.22 $362.26 | ▲ +6.17% | ▲ +1.53% | $432.79 (+26.84%) |
Apr 8, 2026 28w ago | Press Release | $318.97 $372.04 | ▲ +16.64% | ▲ +8.09% | $432.79 (+35.68%) |
Mar 10, 2026 33w ago | Press Release | $298.54 $318.97 | ▲ +6.84% | ▲ +7.00% | $432.79 (+44.97%) |
US Market Status
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