Filing Flows › Reliance (RS) › Q1 2025
Reliance (RS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Reliance (RS) reported revenue of $3.5B for the first quarter 2025 (Q1 2025), -4% from a year earlier and +11% from the quarter before. Operating margin was 7.9%, net earnings $200M (5.8% of revenue).
Reliance, Q1 2025: revenue $3.5B (-4% year over year), operating margin 7.9%, net earnings $200M, operating cash flow $64.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5B | +11% | -4% |
| Operating profit | $274M | +94% | -30% |
| Net earnings | $200M | +89% | -34% |
| Operating cash flow | $64.5M | -86% | -49% |
What changed
Revenue was $3.5B in Q1 2025, down 4% year over year and up 11% from the previous quarter. Carbon steel was the largest line at 55% of revenue. Carbon steel lost $0.11B year over year (down 5%), 68% of the total change.
Operating profit was $0.27B, a 7.9% margin (down 2.9 points year over year). Total costs fell 1% while revenue fell 4%. Net earnings were $0.20B, down 34% year over year. The effective tax rate was 23.6%.
Operating cash flow was $0.06B (down 49% year over year), 32% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.22B. Capital expenditures of $0.09B exceeded it, leaving free cash flow of −$0.02B.
Questions
What was Reliance's revenue in the first quarter 2025?
Reliance (RS) reported revenue of $3.5B for the first quarter 2025 (Q1 2025), -4% from a year earlier and +11% from the quarter before.
Was Reliance profitable in the first quarter 2025?
Operating profit was $274M (7.9% of revenue) and net earnings $200M.
Source: Reliance 10-Q on SEC EDGAR.