Filing Flows › Reliance (RS) › Q2 2026
Reliance (RS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 28, 2026
Reliance (RS) reported revenue of $4.6B for the second quarter 2026 (Q2 2026), +27% from a year earlier and +15% from the quarter before. Operating margin was 9.5%, net earnings $324M (7.0% of revenue).
Reliance, Q2 2026: revenue $4.6B (+26% year over year), operating margin 9.5%, net earnings $324M, operating cash flow $162M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +15% | +27% |
| Operating profit | $442M | +20% | +41% |
| Net earnings | $324M | +22% | +38% |
| Operating cash flow | $162M | +7% | -29% |
| Free cash flow | $68.8M | — | -51% |
What changed
Revenue was $4.6B in Q2 2026, up 27% year over year and up 15% from the previous quarter. Carbon steel was the largest line at 57% of revenue. Carbon steel added $0.58B year over year (up 28%), 59% of the total change.
Operating profit was $0.44B, a 9.5% margin (up 1.0 points year over year). Of the extra revenue versus Q2 2025, 13% reached operating profit, above the 9% margin then. Total costs grew 25% against revenue growth of 27%. The fastest-growing cost line was Cost of revenue (+29%). Net earnings were $0.32B, up 38% year over year. The effective tax rate was 24.7%.
Operating cash flow was $0.16B (down 29% year over year), 50% 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 $0.25B. After capital expenditures ($0.09B), free cash flow as the company reports it was $0.07B.
Questions
What was Reliance's revenue in the second quarter 2026?
Reliance (RS) reported revenue of $4.6B for the second quarter 2026 (Q2 2026), +27% from a year earlier and +15% from the quarter before.
Was Reliance profitable in the second quarter 2026?
Operating profit was $442M (9.5% of revenue) and net earnings $324M.
Source: Reliance 10-Q on SEC EDGAR.