Filing Flows › Reliance (RS) › Q2 2026 › vs Q2 2025
Reliance (RS) Q2 2026 vs Q2 2025 (year over year)
Reliance's revenue rose $970M (+27%) from $3.7B in Q2 2025 to $4.6B in Q2 2026. The biggest changes: Carbon steel +$577M (+28%); Aluminum +$218M (+35%); Stainless steel +$106M (+22%). Operating margin 9.5% against 8.5% (+1.0 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 9.5% | 8.5% | +1.0 pts |
| Net margin | 7.0% | 6.4% | +0.6 pts |
| Free cash flow margin | 1.5% | 3.9% | -2.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Carbon steel | $2.6B | $2.0B | $577M | +28% |
| Aluminum | $838M | $620M | $218M | +35% |
| Stainless steel | $595M | $489M | $106M | +22% |
| Alloy | $186M | $168M | $18.7M | +11% |
| Toll processing and logistics | $184M | $164M | $19.2M | +12% |
| Copper and brass | $124M | $98.9M | $24.8M | +25% |
| Miscellaneous and eliminations | $82.1M | $75.8M | $6.3M | +8% |
| Revenue | $4.6B | $3.7B | $970M | +27% |
| Operating profit | $442M | $312M | $129M | +41% |
| Costs & expenses | $4.2B | $3.3B | $841M | +25% |
| Pre-tax earnings | $430M | $304M | $126M | +41% |
| Cost of revenue | $3.3B | $2.6B | $758M | +29% |
| SG&A | $789M | $706M | $83.4M | +12% |
| Other operating costs | $69.5M | $69.7M | −$200K | -0.3% |
| Net earnings | $324M | $234M | $89.4M | +38% |
| Income tax | $106M | $70.1M | $36.1M | +51% |
| Depreciation & amortization | $69.5M | $69.7M | −$200K | -0.3% |
| Share-based compensation | $23.4M | $15.9M | $7.5M | +47% |
| Working capital & other | $254M | $90.8M | $164M | +180% |
| Operating cash flow | $162M | $229M | −$66.8M | -29% |
| Free cash flow (company-reported) | $68.8M | $141M | −$72.6M | -51% |
| Capital expenditures | $93.4M | $87.6M | $5.8M | +7% |
Questions
How much did Reliance's revenue grow year over year in Q2 2026?
Reliance's revenue rose $970M (+27%) from $3.7B in Q2 2025 to $4.6B in Q2 2026.
What drove Reliance's revenue change in Q2 2026?
Carbon steel +$577M (+28%); Aluminum +$218M (+35%); Stainless steel +$106M (+22%).