Reliance Reports Q2 2026 Results: Full Earnings Call Transcript

Reliance (NYSE: RS ) released second-quarter financial results and hosted an earnings call on Thursday.

Read the complete transcript below.

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For comprehensive financial data and transcripts, visit Access the full call at Summary Reliance Industries Limited reported its second-highest quarterly revenue and record quarterly tons sold, driven by strong market conditions and strategic initiatives such as the U.S.

Department of Homeland Security Border Wall contract.

The company saw significant growth in non-GAAP pre-tax income, with a 40% year-over-year increase, and achieved a record non-GAAP earnings per share of $6.27, supported by strong pricing and strategic relationships with domestic mills.

Reliance emphasized its strategic investments, with a capital expenditure outlook of $300 million for 2026, focusing on enhancing processing capabilities and expanding market presence.

Operational highlights included a 7% increase in tons sold from the previous quarter and a 7.8% increase in average selling price, with notable contributions from carbon steel and aluminum products.

The company anticipates continued strong demand and pricing in the third quarter of 2026, with non-GAAP earnings per diluted share expected to be between $6.40 and $6.60, reflecting a positive market outlook.

Management highlighted the strategic benefit of reliable domestic supply and the potential for additional large contracts, reinforcing the company's strong market positioning.

Full Transcript OPERATOR Greetings and welcome to Reliance second quarter 2026 earnings conference call.

At this time, all participants are in listen-only mode.

A question-and-answer session will follow the formal presentation.

You may be placed into the question queue at any time by pressing Star 1 on your telephone keypad.

If anyone should require operator assistance, please press Star 0.

It's now my pleasure to turn the call over to Kim Orlando, Investor Relations.

Kim, please go ahead.

Kim Orlando, Investor Relations Thank you, operator.

Good morning, and thanks to all of you for joining our conference call to discuss Reliance's second quarter 2026 financial results.

I am joined by Carla Lewis, President and Chief Executive Officer; Steve Cook, Executive Vice President and Chief Operating Officer; and Arthur Ajemian, Senior Vice President and Chief Financial Officer.

A recording of this call will be posted on the Investors section of our website at investor.reliance.com.

Please read the forward-looking statement disclosures included in our earnings release issued yesterday and note that it applies to all statements made during this teleconference.

The reconciliations of the adjusted numbers are included in the non-GAAP reconciliation part of our earnings release.

I will now turn the call over to Carla Lewis, President and CEO of Reliance.

Carla Lewis, President and Chief Executive Officer Good morning everyone and thank you for joining us to discuss our second quarter 2026 results.

Reliance delivered another excellent quarter, building on the positive momentum of the first quarter and the continued strong execution by our teams.

Market conditions remained favorable, supported by improving customer activity, extended mill lead times, and strong pricing across our broad product portfolio.

We achieved our second highest quarterly revenue as well as record quarterly tons sold and continued to outperform the broader industry shipment trends.

These results and our sustained industry outperformance reflect our scale, diversification across end markets, products and value-add service offerings, and our position as a partner of choice with domestic mills.

Nonresidential construction end market sales remain strong, and we began to see meaningful improvements in our sales to the general manufacturing, aerospace, and semiconductor markets throughout the second quarter.

We also benefited from initial contributions from the U.S.

Department of Homeland Security Border Wall contract that we were awarded earlier this year, generating activity in excess of our guidance and contributing meaningfully to our second quarter earnings.

Steve and Arthur will speak about its financial impact later in the call.

Elevated pricing levels, along with strong execution by our teams, drove significant growth in our profitability, including a 40% year-over-year increase in non-GAAP pre-tax income and non-GAAP earnings per share of $6.27, our highest EPS result since the second quarter of 2023.

Trade policy continues to limit imports and support strong domestic pricing, which is further strengthened by extended lead times.

Our long-standing domestic mill partnerships help ensure reliable material availability, allowing us to better serve our customers and capture new opportunities.