Filing Flows › Reliance (RS) › Q3 2026 › vs Q3 2025
Reliance (RS) Q3 2026 vs Q3 2025 (year over year)
Reliance's revenue rose $1.6B (+43%) from $3.7B in Q3 2025 to $5.2B in Q3 2026. The biggest changes: Carbon steel +$1.1B (+53%); Aluminum +$240M (+39%); Stainless steel +$145M (+30%). Operating margin 10.6% against 7.1% (+3.5 pts).
Reliance, Q3 2026: revenue $5.2B (+43% year over year), operating margin 10.6%, net earnings $403M, operating cash flow $212M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 10.6% | 7.1% | +3.5 pts |
| Net margin | 7.7% | 5.2% | +2.5 pts |
| Free cash flow margin | 2.6% | 4.9% | -2.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Carbon steel | $3.1B | $2.0B | $1.1B | +53% |
| Aluminum | $862M | $622M | $240M | +39% |
| Stainless steel | $635M | $490M | $145M | +30% |
| Toll processing and logistics | $190M | $167M | $23.3M | +14% |
| Alloy | $187M | $160M | $27.2M | +17% |
| Copper and brass | $129M | $103M | $26.5M | +26% |
| Miscellaneous and eliminations | $91.0M | $78.0M | $13.0M | +17% |
| Revenue | $5.2B | $3.7B | $1.6B | +43% |
| Operating profit | $552M | $260M | $292M | +113% |
| Costs & expenses | $4.7B | $3.4B | $1.3B | +37% |
| Pre-tax earnings | $532M | $248M | $284M | +115% |
| Other expense, net | $20.2M | $12.1M | $8.1M | +67% |
| Cost of revenue | $3.8B | $2.6B | $1.1B | +44% |
| SG&A | $830M | $701M | $128M | +18% |
| Other operating costs | $72.1M | $70.5M | $1.6M | +2% |
| Net earnings | $403M | $190M | $213M | +112% |
| Income tax | $128M | $57.7M | $70.8M | +123% |
| Depreciation & amortization | $70.1M | $70.5M | −$400K | -0.6% |
| Share-based compensation | $18.9M | $15.1M | $3.8M | +25% |
| Working capital & other | $280M | $13.8M | $267M | 20× |
| Operating cash flow | $212M | $262M | −$49.8M | -19% |
| Free cash flow (company-reported) | $133M | $181M | −$47.6M | -26% |
| Capital expenditures | $79.0M | $81.2M | −$2.2M | -3% |
Questions
How much did Reliance's revenue grow year over year in Q3 2026?
Reliance's revenue rose $1.6B (+43%) from $3.7B in Q3 2025 to $5.2B in Q3 2026.
What drove Reliance's revenue change in Q3 2026?
Carbon steel +$1.1B (+53%); Aluminum +$240M (+39%); Stainless steel +$145M (+30%).