Reliance, Inc Delivers Exceptional Q3 2026 Results with Record Quarterly Net Sales and Strong Earnings
Reliance, Inc recently reported its third quarter 2026 financial results, delivering an exceptional performance that exceeded expectations. The company's strong quarterly net sales, gross profit dollars, and earnings per share (EPS) were highlighted during the Q3 2026 conference call.
The favorable market environment characterized by healthy demand and tight supply allowed Reliance to capitalize on increased pricing levels for most carbon steel products. Karla Lewis, President and CEO of Reliance, emphasized that the company's long-term strategy of supporting valued customers and domestic mill partners positioned them well to benefit from these dynamics.
The company's scale, product diversification, expansive value-added processing capabilities, and ability to source inventory for customers drove exceptional results. The U.S. Department of Homeland Security border wall contract also made a meaningful contribution to the third quarter earnings. Reliance's smart growth strategy resulted in record quarterly tons sold, leading to non-GAAP diluted EPS of $8.02, a 120% year-over-year increase.
The company's strong balance sheet and ample liquidity provide the means to invest in businesses, pursue strategic growth investments, and return capital to stockholders. Reliance continues to evaluate acquisition opportunities and is ready to execute the right opportunities quickly. During the quarter, $79 million of capital expenditures were funded, and $64 million was paid in dividends.
The board of directors increased the share repurchase authorization to $2.5 billion without a set expiration date, further supporting Reliance's disciplined approach to returning capital to stockholders. Since 2021, Reliance has repurchased $3.4 billion of common stock at an average price of approximately $236 per share, reducing outstanding common shares by 23% in that period.
Looking ahead, Reliance is very well-positioned as customer optimism remains high and strengthens across infrastructure, semiconductor, general manufacturing, and aerospace. The company's proven business model, outstanding team, and current market dynamics give them confidence in their ability to gain market share and invest through cycles to drive profitable growth and strong stockholder returns.
