Reliance Steel (NYSE: RS) reported Q2 EPS of $6.27, $0.84 better than the analyst estimate of $5.43. Revenue for the quarter came in at $4.63 billion versus the consensus estimate of $4.24 billion.

GUIDANCE: Third Quarter 2026 Business Outlook

Reliance Steel sees Q3 2026 EPS of $6.40-$6.60, versus the consensus of $5.25.

Third Quarter 2026 Business Outlook
Reliance anticipates third quarter 2026 demand and pricing to remain generally consistent at healthy to improving levels across the key products and end markets it serves, despite ongoing domestic and international trade policy uncertainty and the continued conflict in Iran, which could pose supply availability and macroeconomic risks.

Excluding the impact of the border wall project, the Company expects third quarter tons sold to be down 2% to 4% compared to the second quarter of 2026 due to normal seasonality and average selling price per ton sold to be up 1% to 3%.

Including an estimated 2% sequential and 7.5% year-over-year contribution from the U.S. border wall project, we anticipate tons sold will be up 9% to 11% compared to the third quarter of 2025. Additionally, we anticipate our average selling price per ton sold in the third quarter to be flat to up 2.0% compared to the second quarter of 2026, which includes an estimated mix-related 1% reduction in consolidated average selling price per ton sold attributable to the U.S. border wall project.

For earnings history and earnings-related data on Reliance Steel (RS) click here.