Filing Flows › Reliance (RS) › Q1 2026
Reliance (RS) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Reliance (RS) reported revenue of $4.0B for the first quarter 2026 (Q1 2026), +16% from a year earlier and +15% from the quarter before. Operating margin was 9.1%, net earnings $266M (6.6% of revenue).
Reliance, Q1 2026: revenue $4.0B (+16% year over year), operating margin 9.1%, net earnings $266M, operating cash flow $151M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.0B | +15% | +16% |
| Operating profit | $368M | +121% | +34% |
| Net earnings | $266M | +127% | +32% |
| Operating cash flow | $151M | -45% | +135% |
| Free cash flow | $87.2M | — | — |
What changed
Revenue was $4.0B in Q1 2026, up 16% year over year and up 15% from the previous quarter. Carbon steel was the largest line at 55% of revenue. Carbon steel added $0.31B year over year (up 16%), 58% of the total change. Miscellaneous and eliminations declined 16%.
Operating profit was $0.37B, a 9.1% margin (up 1.3 points year over year). Of the extra revenue versus Q1 2025, 17% reached operating profit, above the 8% margin then. Total costs grew 14% against revenue growth of 16%. The fastest-growing cost line was Cost of revenue (+16%). Net earnings were $0.26B, up 33% year over year. The effective tax rate was 24.0%.
Operating cash flow was $0.15B (up 135% year over year), 57% 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 $0.20B. After capital expenditures ($0.06B), free cash flow as the company reports it was $0.09B.
Questions
What was Reliance's revenue in the first quarter 2026?
Reliance (RS) reported revenue of $4.0B for the first quarter 2026 (Q1 2026), +16% from a year earlier and +15% from the quarter before.
Was Reliance profitable in the first quarter 2026?
Operating profit was $368M (9.1% of revenue) and net earnings $266M.
Source: Reliance 10-Q on SEC EDGAR.