Distributors/Service Centers
April 22, 2026
Reliance earnings soar in Q1'26 on robust pricing, demand
Written by Ethan Bernard
Reliance Inc.
| First quarter ended March 31 | 2026 | 2025 | % Change |
|---|---|---|---|
| Net sales | $4,026.0 | $3,484.7 | 15.5% |
| Net earnings (loss) | $264.9 | $199.7 | 32.6% |
| Per diluted share | $5.10 | $3.74 | 36.4% |
Reliance Inc.’s earnings jumped in the first quarter on strong pricing and demand.
The Scottsdale, Ariz.-based service center group reported net income attributable to Reliance of $264.9 million in Q1’26, up 33% from $199.7 million a year earlier. Net sales rose 16% to $4.0 billion in the same comparison.
The company said record quarterly tons sold increased 2.7% year over year and 9.4% sequentially. This exceeded management’s expectation for a 5% to 7% increase.
“Strong pricing and demand momentum continued to build throughout the quarter across our diversified product and end market portfolio,” President and CEO Karla Lewis said in a statement after market close on Wednesday.
She also said, as previously announced, Reliance secured two significant government contracts in the first quarter to supply the border wall and the US military’s Joint Strike Fighter projects through its AMI Metals Inc. (AMI) subsidiary.
“These wins illustrate our ability to support large and complex projects by leveraging the scale, logistics capabilities, processing expertise, deep supply‑chain relationships and existing operating infrastructure of the Reliance Family of Companies,” commented Lewis.
Outlook
The company anticipates non‑GAAP earnings per diluted share in the range of $5.15 to $5.35 for Q2’26. This represents year‑over‑year growth of ~16-21%, and is inclusive of a LIFO expense of $37.5 million, or $0.54 per diluted share.
Lewis was also bullish in her broader outlook.
“We are encouraged by rising customer optimism and activity across our broad end market exposure,” she said.
She sees continued strong and growing momentum in the infrastructure, data center, energy, and defense sectors.
“Extending lead times at our mill suppliers also bode well for a continued strong pricing environment, where access to metal becomes a strategic advantage,” she added.
For Q2’26, Reliance anticipates both demand and pricing “will remain generally consistent at healthy levels across the key products and end markets it serves.”
This is despite ongoing domestic and international trade policy uncertainty and the conflict in the Middle East. These could both pose supply availability and macroeconomic risks, Reliance said.
