Reliance

Q2 FY2026 EarningsQ2 FY26 results significantly beat consensus across all key profitability metrics: Revenue of $4.63B exceeded the $4.25B estimate by 8.84%, while diluted GAAP EPS of $6.29 outperformed the $5.53 mean estimate by 13.67%. The beat was primarily driven by record tons sold (+10.8% YoY) and the accretive impact of the U.S. border wall project, which contributed $0.41 to EPS and 5.2% to volume growth. Operating margins expanded to 9.5% despite higher LIFO expenses, demonstrating strong operating leverage.