Analyst Consensus ?
ConsensusHold25 ratings
Bullish936.0%
Neutral1456.0%
Bearish28.0%
Reliance Steel & Aluminum Co. · RS · FY2025 Q3 · Calendar Q4 2025
Reliance reports record volume as margins face inventory and LIFO pressure
The quarter supports a measured view: diversified demand, market-share gains and cash generation remain constructive, but margin pressure from inventory, tariffs and LIFO accounting limits the strength of the near-term earnings signal.
Reported After market closeNYSEBasic Materials
$21.22B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$3.64
Consensus $3.68
EPS surprise
-1.1%
Reported versus consensus
Reported revenue
$3.65B
Consensus $3.44B
Revenue surprise
+6.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-0.2%
Event window
SPY move
+0.6%
Same window
Abnormal move
-0.8%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-2.5%
Up to 20 sessions
RSSPY benchmark
Ask FN2 about RS FY2025 Q3
Transcript, numbers and history already loaded
Why did RS fall 0.2% after missing EPS estimates in FY2025 Q3?What changed in RS's guidance and outlook in FY2025 Q3?Give me the bull and bear case for RS after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Volume and U.S. market share reached records, but excess inventory, tariff effects and LIFO expense compressed margins. Management maintained its margin framework, guided Q4 EPS to $2.65-$2.85, and signaled lower 2026 capex.
Guidance delta
Maintained; Q4 EPS guidance was $2.65-$2.85 with flat to slightly improved FIFO gross margins. 2026 capex is expected to be lower than the 2025 budget.
Key takeaways
- Record third-quarter ton sales lifted U.S. market share to 17.1%.
- Management kept its 29%-31% sustainable gross-margin range despite inventory, tariff and LIFO headwinds.
- Q4 guidance calls for EPS of $2.65-$2.85 and flat to slightly improved FIFO gross margins.
- Strong operating cash flow supported dividends, repurchases and investment in processing equipment.
- Management expects inventory conditions to improve into 2026 while reducing capex.
Management priorities
- Invest in advanced processing equipment and growth initiatives
- Pursue opportunistic acquisitions
- Continue share repurchases
- Reduce 2026 capex while maintaining growth projects
- Improve aerospace inventory levels
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$415.62Current
$230Low
$359.7Average
$421High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 22, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 9, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Oct 5, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 27, 2026 |
| Seaport Global | Buy | Buy | Maintain | Apr 28, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Apr 23, 2026 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | Jul 26, 2024 |
| Citigroup | Neutral | Buy | Downgrade | Apr 11, 2024 |
| Goldman Sachs | Neutral | Neutral | Maintain | Mar 13, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 15, 2021 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Jan 21, 2020 |
| Longbow Research | Neutral | Underperform | Upgrade | Sep 6, 2019 |
| Jefferies | Hold | Buy | Downgrade | Apr 26, 2019 |
| Bank of America | Neutral | Underperform | Upgrade | Dec 13, 2018 |
| Macquarie | Outperform | Outperform | Maintain | Sep 7, 2017 |
| Clarksons Platou | Buy | Neutral | Upgrade | Oct 18, 2016 |
| Clarkson Capital Markets | Buy | Neutral | Upgrade | Oct 18, 2016 |
| Rosenblatt | Neutral | Sell | Upgrade | Apr 28, 2016 |
| CLSA | Underperform | Buy | Downgrade | Apr 22, 2016 |
| Credit Suisse | Outperform | Neutral | Upgrade | Mar 31, 2015 |
| Topeka Capital | Buy | Hold | Upgrade | Oct 17, 2014 |
| Topeka | Buy | Hold | Upgrade | Oct 17, 2014 |
| Davenport | Neutral | Buy | Downgrade | Oct 25, 2013 |
| UBS | Neutral | Buy | Downgrade | Oct 22, 2013 |
| Bank oferica | Buy | Buy | Maintain | Apr 16, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $415.62. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $420 | $421.07 | +1.1% | Oct 22, 2026 |
| Barclays | Analyst unavailable | $420 | $404.06 | +1.1% | Oct 14, 2026 |
| KeyBanc | Analyst unavailable | $421 | $400.31 | +1.3% | Oct 5, 2026 |
| Wells Fargo | Analyst unavailable | $372 | $381.91 | -10.5% | Jul 9, 2026 |
| KeyBanc | Analyst unavailable | $418 | $398.63 | +0.6% | Jun 24, 2026 |
| Wells Fargo | Timna Tanners | $376 | $393.95 | -9.5% | Jun 4, 2026 |
| Seaport Global | Analyst unavailable | $390 | $362.53 | -6.2% | Apr 28, 2026 |
| BMO Capital | Analyst unavailable | $350 | $358.77 | -15.8% | Apr 27, 2026 |
| KeyBanc | Analyst unavailable | $378 | $351.68 | -9.1% | Apr 27, 2026 |
| Wells Fargo | Timna Tanners | $330 | $323.3 | -20.6% | Apr 15, 2026 |
| Seaport Global | Analyst unavailable | $340 | $317.7 | -18.2% | Feb 20, 2026 |
| BMO Capital | Analyst unavailable | $320 | $327.28 | -23.0% | Feb 20, 2026 |
| BMO Capital | Katja Jancic | $315 | $273.74 | -24.2% | Oct 24, 2025 |
| Wells Fargo | Timna Tanners | $296 | $293.66 | -28.8% | Aug 13, 2025 |
| Seaport Global | Martin Englert | $350 | $306.14 | -15.8% | Jul 25, 2025 |
| KeyBanc | Philip Gibbs | $325 | $290.95 | -21.8% | Oct 14, 2024 |
| Citigroup | Analyst unavailable | $230 | $200.06 | -44.7% | Apr 29, 2022 |
Track every rating change on RS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationReliance Steel & Aluminum Co. (RS) operates as a premier diversified metal solutions provider and a leading metal service center, serving clients across the United States, Canada, and globally. The company provides an extensive inventory of approximately 100,000 metal products, including alloys, aluminum, brass, copper, carbon steel, stainless steel, titanium, and various specialty steels.…
Historical context
All RS earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CRS Carpenter Technology Corporation | FY2027 Q1 · Calendar Q4 2026 | +6.9% | -20.6% | CRS: Aerospace Bookings Accelerate as Guidance Holds |
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.3% | +4.7% | Dow’s Q3 growth and self-help gains support a steady Q4 outlook |
| NEM Newmont Corporation | FY2026 Q3 · Calendar Q4 2026 | +12.2% | -2.6% | Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth |
| SCCO Southern Copper Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.4% | -2.1% | Southern Copper: Record Q3 results, projects advance amid execution risks |
Latest beats and misses
Who reports nextBeat on EPS
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
- AXPFY2026 Q3 · October 23, 2026+4.0% EPS-3.7% move
- RCIFY2026 Q3 · October 23, 2026+9.5% EPS-2.4% move
- EFY2026 Q3 · October 23, 2026+13.9% EPS+4.3% move
- RITM-PDFY2026 Q3 · October 23, 2026+10.2% EPS— move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the RS recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-24T04:10:40.864767+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T04:10:40.861891+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.