Overview

* Reliance Steel Q3 net sales rise 6.8% yr/yr, achieving record tons sold

* Adjusted EPS for Q3 misses analyst expectations

* Company repurchased $60.9 mln of common stock during Q3

Outlook

* Reliance expects Q4 2025 tons sold to be up 3.5% to 5.5% YoY

* Company anticipates Q4 2025 non-GAAP EPS of $2.65 to $2.85

* Reliance expects Q4 2025 average selling price per ton to be flat

Result Drivers

* RECORD TONS SOLD - Reliance achieved record tons sold in Q3, outperforming industry trends by leveraging inventory and processing capabilities

* TRADE POLICY UNCERTAINTY - Uncertainty in trade policy and readily available inventory created competitive market conditions, impacting selling prices and margins

* AEROSPACE AND SEMICONDUCTOR CHALLENGES - Excess inventories in aerospace and semiconductor markets affected profitability, though defense and space sectors remained strong

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $3.64 $3.68 (7

Adjusted Analysts

EPS )

Q3 EPS $3.59

Q3 28.30%

Adjusted

Gross

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the iron & steel peer group is "buy."

* Wall Street's median 12-month price target for Reliance Inc ( RS ) is $325.00, about 14.3% above its October 21 closing price of $278.65

* The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)