Filing Flows › Reliance (RS) › Q4 2025
Reliance (RS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Reliance (RS) reported revenue of $3.5B for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -4% from the quarter before. Operating margin was 4.8%, net earnings $117M (3.3% of revenue).
Reliance, Q4 2025: revenue $3.5B (+12% year over year), operating margin 4.8%, net earnings $117M, operating cash flow $276M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5B | -4% | +12% |
| Operating profit | $166M | -36% | +17% |
| Net earnings | $117M | -38% | +10% |
| Operating cash flow | $276M | +5% | -42% |
| Free cash flow | $203M | — | -44% |
What changed
Revenue was $3.5B in Q4 2025, up 12% year over year and down 4% from the previous quarter. Carbon steel was the largest line at 55% of revenue.
Operating profit was $0.17B, a 4.8% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, above the 5% margin then. Total costs grew 12% against revenue growth of 12%. The fastest-growing cost line was Cost of revenue (+14%). Net earnings were $0.12B, up 11% year over year. The effective tax rate was 24.5%.
Operating cash flow was $0.28B (down 42% year over year), 236% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.08B. After capital expenditures ($0.07B), free cash flow as the company reports it was $0.20B.
Questions
What was Reliance's revenue in the fourth quarter 2025?
Reliance (RS) reported revenue of $3.5B for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and -4% from the quarter before.
Was Reliance profitable in the fourth quarter 2025?
Operating profit was $166M (4.8% of revenue) and net earnings $117M.
Source: Reliance 10-K on SEC EDGAR.