Filing Flows › Reliance (RS) › Q2 2026 › vs Q1 2026
Reliance (RS) Q2 2026 vs Q1 2026 (quarter over quarter)
Reliance's revenue rose $604M (+15%) from $4.0B in Q1 2026 to $4.6B in Q2 2026. The biggest changes: Carbon steel +$403M (+18%); Aluminum +$83.3M (+11%); Stainless steel +$56.2M (+10%). Operating margin 9.5% against 9.1% (+0.4 pts).
Reliance, Q2 2026: revenue $4.6B (+26% year over year), operating margin 9.5%, net earnings $324M, operating cash flow $162M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.5% | 9.1% | +0.4 pts |
| Net margin | 7.0% | 6.6% | +0.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Carbon steel | $2.6B | $2.2B | $403M | +18% |
| Aluminum | $838M | $755M | $83.3M | +11% |
| Stainless steel | $595M | $539M | $56.2M | +10% |
| Alloy | $186M | $181M | $5.6M | +3% |
| Toll processing and logistics | $184M | $172M | $11.6M | +7% |
| Copper and brass | $124M | $102M | $21.8M | +21% |
| Miscellaneous and eliminations | $82.1M | $59.9M | $22.2M | +37% |
| Revenue | $4.6B | $4.0B | $604M | +15% |
| Operating profit | $442M | $368M | $73.7M | +20% |
| Costs & expenses | $4.2B | $3.7B | $530M | +14% |
| Pre-tax earnings | $430M | $350M | $80.3M | +23% |
| Cost of revenue | $3.3B | $2.9B | $475M | +17% |
| SG&A | $789M | $735M | $54.6M | +7% |
| Other operating costs | $69.5M | $69.2M | $300K | +0.4% |
| Net earnings | $324M | $266M | $58.0M | +22% |
| Income tax | $106M | $83.9M | $22.3M | +27% |
| Depreciation & amortization | $69.5M | $69.2M | $300K | +0.4% |
| Share-based compensation | $23.4M | $13.3M | $10.1M | +76% |
| Working capital & other | $254M | $197M | $57.6M | +29% |
| Operating cash flow | $162M | $151M | $10.8M | +7% |
Questions
How much did Reliance's revenue grow quarter over quarter in Q2 2026?
Reliance's revenue rose $604M (+15%) from $4.0B in Q1 2026 to $4.6B in Q2 2026.
What drove Reliance's revenue change in Q2 2026?
Carbon steel +$403M (+18%); Aluminum +$83.3M (+11%); Stainless steel +$56.2M (+10%).