Filing Flows › Reliance (RS) › Q2 2025
Reliance (RS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Reliance (RS) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), +0.5% from a year earlier and +5% from the quarter before. Operating margin was 8.5%, net earnings $234M (6.4% of revenue).
Reliance, Q2 2025: revenue $3.7B (+0.5% year over year), operating margin 8.5%, net earnings $234M, operating cash flow $229M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +5% | +0.5% |
| Operating profit | $312M | +14% | -11% |
| Net earnings | $234M | +17% | -13% |
| Operating cash flow | $229M | +255% | -37% |
| Free cash flow | $141M | — | -47% |
What changed
Revenue was $3.7B in Q2 2025, roughly flat year over year and up 5% from the previous quarter. Carbon steel was the largest line at 56% of revenue. Aluminum added $0.03B year over year (up 5%), 195% of the total change. Miscellaneous and eliminations declined 18%.
Operating profit was $0.31B, a 8.5% margin (down 1.1 points year over year). Operating profit fell $0.04B even though revenue rose $0.02B versus a year earlier, so costs grew faster than sales. Total costs grew 2% against flat revenue. Net earnings were $0.23B, down 13% year over year. The effective tax rate was 23.0%.
Operating cash flow was $0.23B (down 37% year over year), 98% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.09B. After capital expenditures ($0.09B), free cash flow as the company reports it was $0.14B.
Questions
What was Reliance's revenue in the second quarter 2025?
Reliance (RS) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), +0.5% from a year earlier and +5% from the quarter before.
Was Reliance profitable in the second quarter 2025?
Operating profit was $312M (8.5% of revenue) and net earnings $234M.
Source: Reliance 10-Q on SEC EDGAR.