Every material Form 8-K Reliance has filed with the SEC since May 16, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Reliance reported record third-quarter 2026 net sales of $5.21 billion, up 42.8% from a year earlier, and diluted EPS of $7.84 versus $3.59. Non-GAAP EPS of $8.02 exceeded management's guidance of $6.40 to $6.60, and the company guided fourth-quarter non-GAAP EPS to $7.40 to $7.60 while raising its share repurchase authorization to $2.5 billion.
Third-quarter net sales were $5.21 billion, up 42.8% year over year, with tons sold up 15.6%.
Diluted EPS was $7.84 versus $3.59 a year earlier; non-GAAP diluted EPS was $8.02 versus guidance of $6.40 to $6.60.
Fourth-quarter 2026 non-GAAP diluted EPS is expected in the range of $7.40 to $7.60.
The Board approved raising the share repurchase authorization to $2.5 billion on October 20, 2026, and declared a $1.25 quarterly dividend payable December 4, 2026.
Reliance reported second quarter 2026 net sales of $4.63 billion, up 15% from the first quarter and 26.5% from a year earlier, with diluted EPS of $6.29 versus $4.42 a year earlier. Non-GAAP EPS of $6.27 exceeded the high end of management's $5.15 to $5.35 guidance range, though LIFO expense of $1.64 per share was well above the $0.54 management had expected. The company guided to third quarter non-GAAP EPS of $6.40 to $6.60.
Net sales $4.63 billion, up 15% sequentially and 26.5% year-over-year; pretax income $429.8 million, up 41% year-over-year
Non-GAAP EPS $6.27 versus management guidance of $5.15 to $5.35; LIFO expense $1.64 per share versus $0.54 expected
Third quarter 2026 non-GAAP EPS guidance of $6.40 to $6.60, including about $0.60 from the U.S. border wall project
Quarterly dividend of $1.25 per share declared July 17, 2026, payable August 28, 2026
Reliance reported first-quarter 2026 net sales of $4.0 billion, up 15.1% year over year, and diluted EPS of $5.10, up from $3.74 a year earlier. Non-GAAP diluted EPS of $5.16 was above management's $4.50 to $4.70 guidance, and the company guided second-quarter non-GAAP EPS to $5.15 to $5.35.
Diluted EPS $5.10 versus $3.74 in Q1 2025; non-GAAP diluted EPS $5.16, up 37% year over year
Net sales $4.0 billion, up 15.1% year over year; tons sold 1,672.7 thousand, up 2.7% year over year
Q2 2026 non-GAAP EPS guidance of $5.15 to $5.35, including about $0.15 to $0.20 from the DHS border wall contract
Repurchased $234.2 million of common stock in the quarter; quarterly dividend of $1.25 per share payable June 5, 2026
Reliance reported fourth-quarter 2025 net sales of $3.5 billion, up 11.9% from a year earlier, with tons sold up 5.8%. Non-GAAP diluted EPS of $2.40 came in below management's $2.65 to $2.85 guidance range; the company said that normalizing for LIFO and tax impacts would have placed it within guidance at $2.65. Full-year 2025 diluted EPS fell 10.2% to $13.98, and the company guided first-quarter 2026 non-GAAP EPS to $4.50 to $4.70.
Q4 2025 net sales $3.5 billion, up 11.9% year over year; diluted EPS $2.22 versus $1.93 a year earlier
Q4 non-GAAP diluted EPS $2.40 versus management guidance of $2.65 to $2.85, including a $0.25 per share unfavorable LIFO and tax true-up
Full-year 2025 net sales $14.3 billion, up 3.3%; diluted EPS $13.98, down 10.2%
Q1 2026 non-GAAP EPS guidance $4.50 to $4.70; quarterly dividend of $1.25 per share payable March 20, 2026
Reliance reported third-quarter 2025 net sales of $3.65 billion, up 6.8% from a year earlier, with record third-quarter tons sold. Profit was roughly flat to lower: diluted EPS was $3.59 versus $3.61 in the prior-year quarter, and gross profit margin fell to 28.3% from 29.4%. The company also gave fourth-quarter non-GAAP EPS guidance of $2.65 to $2.85, and its board adopted an Executive Severance Policy on October 21, 2025.
Net sales were $3.65 billion, up 6.8% year over year; tons sold rose 6.2% to 1,615.5 thousand.
Diluted EPS was $3.59 versus $3.61 a year earlier; non-GAAP diluted EPS was $3.64, the same as the prior-year quarter.
Gross profit margin was 28.3%, compared with 29.4% in the third quarter of 2024.
Fourth-quarter 2025 non-GAAP EPS is expected in a range of $2.65 to $2.85, including LIFO expense of $25.0 million.
Reliance, Inc. increased its Board from eight to nine directors and appointed John G. Sznewajs, 58, as an independent director effective October 1, 2025, with his term expiring at the 2026 Annual Meeting of Stockholders. He was also named to the Audit Committee, and the filing describes him as having been CFO of Masco Corporation from 2007 to 2023.
Board expanded from eight to nine directors; eight of nine will be independent, per the press release.
Sznewajs was appointed to the Audit Committee and will receive the standard non-employee director compensation.
Sznewajs is a partner at Shore Capital and a director of CMS Energy Corporation; he previously served as Masco's Vice President and CFO from 2007 to 2023.
Reliance, Inc. entered into a $400 million unsecured term loan on August 14, 2025, fully drawn at closing, maturing August 14, 2028. The company used the proceeds to repay $400 million of senior unsecured notes that were due August 15, 2025, so the filing refinances existing debt rather than adding a new amount of debt.
$400 million term loan, fully drawn at closing, matures August 14, 2028
Proceeds used to repay $400 million of senior unsecured notes maturing August 15, 2025
Interest at SOFR plus 0.75% initially, rising to a range of SOFR plus 0.75% to 1.25% based on Total Net Leverage Ratio after the fiscal quarter ending September 30, 2025
Loan is unsecured, not guaranteed by subsidiaries, prepayable without premium or penalty; a maximum Total Net Leverage Ratio is the only financial maintenance covenant
Reliance, Inc. reported second-quarter 2025 net sales of $3.66 billion, up 5.0% from the first quarter but up only 0.5% from a year earlier. Diluted EPS was $4.42, up 18.2% from the first quarter but down 5.4% from the second quarter of 2024. The company expects non-GAAP EPS of $3.60 to $3.80 for the third quarter, which is below its second-quarter non-GAAP EPS of $4.43.
Q2 2025 net sales were $3.66 billion, up 5.0% from Q1 2025 and up 0.5% from Q2 2024.
Diluted EPS was $4.42 versus $3.74 in Q1 2025 and $4.67 in Q2 2024; non-GAAP diluted EPS was $4.43.
Q3 2025 non-GAAP EPS is expected at $3.60 to $3.80, including $0.36 per share of LIFO expense; tons sold are expected to fall 1.0% to 3.0% from Q2.
Reliance repurchased $79.9 million of common stock in Q2 and declared a $1.20 per share quarterly dividend on July 22, 2025, payable August 29, 2025.
Reliance reported first-quarter 2025 results on April 23, 2025, with net sales of $3.48 billion, down 4.4% from a year earlier, on record tons sold. Diluted EPS was $3.74 versus $5.23 a year earlier, while non-GAAP diluted EPS of $3.77 came in above the company's $3.30 to $3.50 guidance. For shareholders, year-over-year sales and profit declined, but results improved from the prior quarter and the company guided second-quarter non-GAAP EPS to $4.50 to $4.70.
Net sales $3.48 billion, down 4.4% year over year; tons sold rose 9.0% to a record 1.63 million
Diluted EPS $3.74 vs. $5.23 a year earlier; non-GAAP diluted EPS $3.77 vs. $3.30 to $3.50 guidance
Q2 2025 non-GAAP EPS guidance of $4.50 to $4.70, including LIFO expense of $25.0 million or $0.35 per share
Repurchased $253.2 million of stock in Q1; quarterly dividend of $1.20 declared April 21, 2025, payable June 6, 2025
Reliance reported fourth-quarter 2024 net sales of $3.13 billion, down 6.3% from a year earlier, and diluted EPS of $1.93 versus $4.70, with non-GAAP EPS of $2.22 versus $4.73. The company said a $5.6 million LIFO expense, compared with $50 million of LIFO income in the third quarter, and a net unfavorable year-end LIFO and tax true-up of $0.74 per share weighed on results against its $2.65 to $2.85 non-GAAP EPS guidance range. For shareholders, the company also guided to first-quarter 2025 non-GAAP EPS of $3.30 to $3.50 and raised its quarterly dividend 9.1% to $1.20.
Full-year 2024 net sales were $13.84 billion, down 6.6%, and diluted EPS was $15.56 versus $22.64 in 2023
Share repurchases totaled a record $1.09 billion in 2024, reducing outstanding shares by 6% year over year
Q1 2025 non-GAAP EPS guidance is $3.30 to $3.50, with tons sold expected up 3.0% to 5.0% from Q1 2024
Quarterly dividend raised to $1.20 per share, payable March 21, 2025 to holders of record as of March 7, 2025
Reliance, Inc. director Mark V. Kaminski notified the company on December 17, 2024, that he will not stand for reelection at the 2025 Annual Meeting of Stockholders. He will stay on the board and keep his committee roles through that meeting, and the filing says his retirement is not due to any disagreement with the company. The filing reports no financial results or changes to company operations.
Mark V. Kaminski notified the company on December 17, 2024 of his intention not to seek reelection.
He will remain a director and keep his committee memberships through the 2025 Annual Meeting of Stockholders.
Kaminski has served on the board since 2004.
The filing states the retirement is not due to any disagreement with the company on operations, policies, or practices.
Reliance reported third-quarter 2024 net sales of $3.42 billion, down 5.6% from a year earlier, and diluted EPS of $3.61 versus $4.99 in Q3 2023. The company expects non-GAAP EPS of $2.65 to $2.85 for Q4 2024 and says demand will weaken temporarily, which points to lower earnings for shareholders in the near term.
Net sales $3.42 billion vs. $3.62 billion in Q3 2023; tons sold up 7.1%, while average selling price per ton fell 12.0%
Diluted EPS $3.61 vs. $4.99; non-GAAP diluted EPS $3.64 vs. $5.00
Q4 2024 guidance: non-GAAP EPS of $2.65 to $2.85; tons sold expected down 6.0% to 8.0% from Q3 2024
Board declared a $1.10 quarterly dividend payable December 6, 2024; repurchase authorization replenished to $1.5 billion
Reliance, Inc. increased its board from eight to nine directors and appointed James K. Kamsickas, chairman and CEO of Dana Incorporated, as an independent director effective October 1, 2024. Chairman Mark Kaminski will step down as non-executive chairman effective January 1, 2025, and remain a director, while Douglas W. Stotlar will become chairman on that date. The filing contains no financial results, but it marks a board expansion and a planned change in board leadership.
Board size increased from eight to nine directors; eight of nine will be independent.
James K. Kamsickas, 57, term expires at the 2025 Annual Meeting of Stockholders; no committee assignment yet.
Mark Kaminski, chairman since July 2016, steps down as chairman effective January 1, 2025 and stays on the board.
Douglas W. Stotlar, a director since October 2016, appointed non-executive chairman effective January 1, 2025 by unanimous board vote on October 1, 2024.
Reliance, Inc. entered into a Second Amended and Restated Credit Agreement on September 10, 2024, providing a five-year senior unsecured revolving credit facility of $1.5 billion. About $82 million was outstanding under the agreement as of September 10, 2024, and the company may use the funds for general corporate purposes, growth and stockholder return activities. The new terms replace the 2020 agreement and remove the interest coverage ratio covenant, leaving a maximum total net leverage ratio as the only financial maintenance covenant.
Facility size: $1.5 billion five-year senior unsecured revolver, including a $150 million letter of credit sublimit and a $50 million swing line sublimit
Borrowings outstanding as of September 10, 2024: approximately $82 million
Initial pricing: SOFR plus 1.00% and a 0.10% unused fee, until the compliance certificate for the quarter ending September 30, 2024 is delivered; thereafter pricing ranges based on the Total Net Leverage Ratio
Replaces the existing credit agreement dated September 3, 2020; Bank of America, N.A. is the administrative agent
Reliance reported second-quarter 2024 net sales of $3.64 billion, down 6.1% from $3.88 billion a year earlier, and diluted EPS of $4.67, down 28.0% from $6.49. Management attributed the decline mainly to lower carbon steel prices, even though tons sold rose 4.7% year over year. The company expects non-GAAP EPS of $3.60 to $3.80 for the third quarter of 2024, and the filing notes continued pricing pressure.
Q2 2024 net sales of $3.64 billion versus $3.88 billion in Q2 2023; diluted EPS of $4.67 versus $6.49
Gross profit margin was 29.8%, compared with 31.0% in Q1 2024 and 31.5% in Q2 2023
Q3 2024 outlook: non-GAAP EPS of $3.60 to $3.80, with average selling price per ton expected to fall 2% to 4% from Q2
Reliance repurchased $519.3 million of stock in Q2 and $165.4 million in July 2024; $755.0 million remained under the program as of July 23, 2024
At its May 15, 2024 annual meeting, Reliance, Inc. stockholders re-elected all eight board nominees and approved a 5-year extension of the Second Amended and Restated 2015 Incentive Award Plan, now running through 2030. Stockholders also approved the advisory vote on executive compensation and ratified KPMG LLP as the independent auditor for 2024.
Eight directors were elected to serve until the next annual meeting; Douglas W. Stotlar received the most votes against at 4,040,357.
Incentive Award Plan amendment approved: 45,679,584 for, 1,543,015 against, 54,532 abstentions.
Advisory vote on named executive officer compensation: 45,486,561 for, 1,742,917 against.
KPMG LLP ratified for fiscal 2024: 50,230,150 for, 624,481 against; 88.67% of shares outstanding were represented.
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