Reliance sees Q3 EPS $3.60-$3.80, consensus $4.32

The company said, “Reliance (RS) anticipates overall demand in the third quarter of 2025 will remain stable across the diversified end markets it serves, subject to normal seasonal patterns, which reflects both a seasonal decline in shipping volumes attributable to planned customer shutdowns and vacation schedules and ongoing uncertainty regarding domestic and international trade policy. Accordingly, the Company estimates its tons sold in the third quarter of 2025 will be down 1.0% to 3.0% compared to the second quarter of 2025, but up 3.0% to 5.0% compared to the third quarter of 2024. In addition, Reliance expects its average selling price per ton sold for the third quarter of 2025 will be down 1.0% to up 1.0% compared to the second quarter of 2025, primarily driven by lower prices for carbon steel products and partially offset by higher prices for certain aluminum and stainless products. Consequently, the Company anticipates its FIFO gross profit margin to remain under some pressure in the third quarter of 2025. Based on these expectations, Reliance anticipates non-GAAP earnings per diluted share in the range of $3.60 to $3.80 for the third quarter of 2025, inclusive of LIFO expense of $25.0 million or $0.36 per diluted share.”