Filing Flows › Reliance (RS) › Q3 2025
Reliance (RS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Reliance (RS) reported revenue of $3.7B for the third quarter 2025 (Q3 2025), +7% from a year earlier and -0.2% from the quarter before. Operating margin was 7.1%, net earnings $190M (5.2% of revenue).
Reliance, Q3 2025: revenue $3.7B (+7% year over year), operating margin 7.1%, net earnings $190M, operating cash flow $262M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | -0.2% | +7% |
| Operating profit | $260M | -17% | -5% |
| Net earnings | $190M | -19% | -5% |
| Operating cash flow | $262M | +14% | -44% |
| Free cash flow | $181M | +28% | -49% |
What changed
Revenue was $3.7B in Q3 2025, up 7% year over year and roughly flat from the previous quarter. Carbon steel was the largest line at 56% of revenue. Carbon steel added $0.18B year over year (up 9%), 76% of the total change. Miscellaneous and eliminations declined 5%.
Operating profit was $0.26B, a 7.1% margin (down 0.9 points year over year). Operating profit fell $0.01B even though revenue rose $0.23B versus a year earlier, so costs grew faster than sales. Total costs grew 8% against revenue growth of 7%. Net earnings were $0.19B, down 5% year over year. The effective tax rate was 23.3%.
Operating cash flow was $0.26B (down 44% year over year), 138% 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 $0.01B. Capital expenditures of $0.08B left free cash flow of $0.18B.
Questions
What was Reliance's revenue in the third quarter 2025?
Reliance (RS) reported revenue of $3.7B for the third quarter 2025 (Q3 2025), +7% from a year earlier and -0.2% from the quarter before.
Was Reliance profitable in the third quarter 2025?
Operating profit was $260M (7.1% of revenue) and net earnings $190M.
Source: Reliance 10-Q on SEC EDGAR.