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Dec 31, 2025
Reliance Steel Q4 2025 Earnings Report
Reliance, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2025.
Key Takeaways
Reliance, Inc. reported a strong fourth quarter in 2025 with net sales up 11.9% year-over-year to $3.5 billion and record tons sold up 5.8%. Full year 2025 net sales increased 3.3% to $14.3 billion, with record annual tons sold up 6.2%. The company repurchased $594.1 million of common stock in 2025 and increased its quarterly dividend by 4.2%.
Net sales for Q4 2025 increased by 11.9% year-over-year, reaching $3,498.6 million.
Diluted EPS for Q4 2025 was $2.22, an increase of 15.0% compared to Q4 2024.
The company repurchased $200.1 million of common stock in Q4 2025, contributing to a 4% reduction in outstanding shares for the full year.
Reliance increased its quarterly dividend by 4.2% to $1.25 per share, marking 66 consecutive years of regular quarterly cash dividends without reduction or suspension.
Revenue by Segment
Forward Guidance
Reliance anticipates continued healthy demand in Q1 2026 across key end markets, with tons sold expected to increase 5% to 7% sequentially and average selling price per ton sold to rise 3% to 5%. Non-GAAP EPS is projected to be between $4.50 and $4.70, reflecting strong year-over-year growth.
Positive Outlook
- Anticipates continued healthy demand in key end markets for Q1 2026.
- Estimates tons sold in Q1 2026 to be up 5% to 7% compared to Q4 2025, in line with normal seasonal patterns.
- Expects average selling price per ton sold for Q1 2026 to be up 3% to 5% compared to Q4 2025 due to announced mill price increases.
- Anticipates a modest improvement in FIFO gross profit margin in Q1 2026 compared to Q4 2025.
- Projects non-GAAP earnings per diluted share in the range of $4.50 to $4.70 for Q1 2026, reflecting 19% to 25% year-over-year growth.
Challenges Ahead
- Ongoing domestic and international trade policy uncertainty could impact demand.
- LIFO expense of $25 million or $0.36 per diluted share is included in the Q1 2026 non-GAAP EPS guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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