RELIANCE, INC. — Form 8-K

Reliance reported Q2 2026 net sales of $4.63B (up 15% sequentially, 26.5% YoY) with record tons sold of 1,790.1 thousand (up 7.0% sequentially, 10.8% YoY). Diluted EPS of $6.29 exceeded guidance of $5.15–$5.35, driven by non-GAAP EPS of $6.27 (up 42% YoY). Q2 pretax income jumped 41% YoY to $429.8M. The U.S. Department of Homeland Security border wall contract, awarded earlier in 2026 and contributing ~$0.41/share in Q2 (vs. $0.15–$0.20 expected), materially outperformed expectations with 5.1% of sequential ton growth. LIFO expense of $1.64/share came in $1.10/share worse than the $0.54/share expected. Management guided Q3 2026 non-GAAP EPS of $6.40–$6.60 (76–81% YoY growth), including ~$0.60/share from border wall shipments.