Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Reliance, Inc. (RS)
NYSEMaterialsSteelSnapshot 2026-11-04
$414.04-6.32%
Close 2026-11-05 · 1-day change
NYSEMaterialsSteelSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
23.61 → 25.71 EPS · FY ending Dec 31, 2027 · 6 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 5 to 6; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for RS yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
4 published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
EPS meets or exceeds $5.25 in 2026 Q2 | A supporting condition in Reliance, Inc.'s published investment case. The stated target is >= $5.25. | Intact | EPS guidance falls below $5.15 for 2026 Q2 | Diluted EPS: $7.84 per share FY2026-Q3; GAAP. Published target: >= $5.25. Target period ends 2026-06-30; this observation covers 2026-Q3. Oct 27, 20267.84 USD/share · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
RS is a cyclical materials business with a strong recent operating record, rather than a pure growth story. Its long-term thesis is intact, while the sector tailwind and management execution remain important to the case.
Valuation is above peers, while the valuation and expectations evidence is broadly aligned and the market’s expectations gap is small. The current setup appears justified by the evidence, with low fragility rather than a broad combination of expensive valuation, weak execution, and turbulence.
Near-term fundamentals have been strong: RS reported earnings beats in three consecutive quarters, revenue rose from Q1 to Q3, and Q3 included record tons sold. Management is delivering on growth and capital returns, while participation in infrastructure and defense projects is mixed; a guidance cut remains a risk, though the stated near-term miss risk is low.
Over the multi-year view, the thesis depends on profitable growth and market-share gains continuing without weaker guidance or execution. Near-term sector signals matter: continued earnings strength and higher guidance from materials peers would support the tailwind, while misses or lower guidance could weaken it.
The 1-3 year read is intact, with strong recent performance and management delivery balanced by a cyclical sector backdrop and some guidance risk. The main checks are RS’s next guidance update and whether sector peers sustain their momentum. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| Profit rises with operating income up $93.5M to $367.9M. |
| Under Pressure |
| Net income falls below $200.5M in any quarter through 2026-Q1 |
Net income: $402.9M FY2026-Q3; GAAP. Published target: >= $264.9M. The stored target says 2026-Q1; this source reports FY2026-Q3. Fiscal/calendar alignment needs review. Oct 27, 2026402,900,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Operating income rises to at least $367.9M in 2026 Q1 | Profit rises with operating income up $93.5M to $367.9M. | Under Pressure | Operating income falls below $274.4M in any quarter through 2026-Q1 | Operating income: $552.1M FY2026-Q3; GAAP. Published target: >= $367.9M. The stored target says 2026-Q1; this source reports FY2026-Q3. Fiscal/calendar alignment needs review. Oct 27, 2026552,100,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Revenue grows to at least $4.03B in 2026 Q1 | A primary condition in Reliance, Inc.'s published investment case. The stated target is >= $4.03B. | Under Pressure | Revenue falls below $3.48B in any quarter through 2026-Q1 | Revenue: $5.213B FY2026-Q3; GAAP. Published target: >= $4.03B. The stored target says 2026-Q1; this source reports FY2026-Q3. Fiscal/calendar alignment needs review. Oct 27, 20265,213,200,000 USD · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$21.27 → $25.71 · observed estimates
$16.34B → $18.39B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $21.27 | $16,336,093,560 | 8 / 7 |
| 2026-07-25 | $21.95 | $16,815,299,980 | 8 / 6 |
| 2026-07-26 | $21.95 | $16,815,299,980 | 8 / 6 |
| 2026-07-27 | $22.05 | $17,069,226,560 | 8 / 7 |
| 2026-07-28 | $22.05 | $16,879,513,996 | 5 / 6 |
| 2026-07-29 | $22.19 | $17,198,239,360 | 8 / 7 |
| 2026-07-30 | $22.19 | $17,198,239,360 | 8 / 7 |
| 2026-07-31 | $23.08 | $17,284,367,140 | 8 / 8 |
| 2026-08-01 | $22.69 | $17,177,346,693 | 5 / 6 |
| 2026-08-02 | $23.08 | $17,284,367,140 | 8 / 8 |
| 2026-08-03 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-04 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-05 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-06 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-08 | $23.08 | $17,284,367,140 | 8 / 8 |
| 2026-08-09 | $23.08 | $17,284,367,140 | 8 / 8 |
| 2026-08-10 | $23.08 | $17,284,367,140 | 8 / 8 |
| 2026-08-12 | $23.08 | $17,284,367,140 | 8 / 8 |
| 2026-08-13 | $23.08 | $17,284,367,140 | 8 / 8 |
| 2026-08-14 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-15 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-16 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-17 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-18 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-19 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-20 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-21 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-22 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-23 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-24 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-25 | $23.08 | $17,284,327,939 | 5 / 6 |
| 2026-08-26 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-08-27 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-08-28 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-08-29 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-08-30 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-08-31 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-01 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-02 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-03 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-04 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-05 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-06 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-07 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-08 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-09 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-10 | $23.14 | $17,326,702,939 | 5 / 6 |
| 2026-09-11 | $23.23 | $17,387,573,564 | 5 / 6 |
| 2026-09-12 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-13 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-14 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-15 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-16 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-17 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-18 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-19 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-20 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-21 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-22 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-23 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-24 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-25 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-26 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-27 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-28 | $23.52 | $17,452,619,322 | 5 / 6 |
| 2026-09-29 | $23.61 | $17,452,619,322 | 5 / 6 |
| 2026-09-30 | $23.61 | $17,452,619,322 | 5 / 6 |
| 2026-10-01 | $23.61 | $17,452,619,322 | 5 / 6 |
| 2026-10-02 | $23.61 | $17,452,619,322 | 5 / 6 |
| 2026-10-03 | $23.61 | $17,452,619,322 | 5 / 6 |
| 2026-10-04 | $23.61 | $17,452,619,322 | 5 / 6 |
| 2026-10-05 | $23.61 | $17,452,644,322 | 5 / 6 |
| 2026-10-06 | $23.61 | $17,452,644,322 | 5 / 6 |
| 2026-10-07 | $23.61 | $17,494,894,322 | 5 / 6 |
| 2026-10-08 | $23.61 | $17,494,911,285 | 5 / 6 |
| 2026-10-09 | $23.61 | $17,494,911,285 | 5 / 6 |
| 2026-10-10 | $24.08 | $17,663,262,891 | 5 / 6 |
| 2026-10-11 | $24.08 | $17,663,262,891 | 5 / 6 |
| 2026-10-12 | $24.08 | $17,663,262,891 | 5 / 6 |
| 2026-10-13 | $24.08 | $17,663,262,891 | 5 / 6 |
| 2026-10-14 | $24.08 | $17,663,262,891 | 5 / 6 |
| 2026-10-15 | $24.14 | $17,663,262,891 | 5 / 6 |
| 2026-10-16 | $24.14 | $17,663,262,891 | 5 / 6 |
| 2026-10-17 | $24.14 | $17,663,262,891 | 5 / 6 |
| 2026-10-18 | $24.64 | $17,868,963,304 | 5 / 6 |
| 2026-10-19 | $24.64 | $17,868,963,304 | 5 / 6 |
| 2026-10-20 | $24.64 | $17,868,963,304 | 5 / 6 |
| 2026-10-21 | $24.64 | $17,868,963,304 | 5 / 6 |
| 2026-10-22 | $24.82 | $17,938,196,342 | 5 / 6 |
| 2026-10-23 | $25.19 | $18,122,386,084 | 5 / 6 |
| 2026-10-24 | $25.38 | $18,259,000,959 | 5 / 6 |
| 2026-10-25 | $25.38 | $18,259,000,959 | 5 / 6 |
| 2026-10-26 | $25.38 | $18,259,000,959 | 5 / 6 |
| 2026-10-27 | $25.56 | $18,259,000,959 | 5 / 6 |
| 2026-10-28 | $25.56 | $18,342,775,959 | 5 / 6 |
| 2026-10-29 | $25.71 | $18,392,843,499 | 6 / 6 |
| 2026-10-30 | $25.71 | $18,392,843,499 | 6 / 6 |
| 2026-10-31 | $25.71 | $18,392,843,499 | 6 / 6 |
| 2026-11-01 | $25.71 | $18,392,843,499 | 6 / 6 |
| 2026-11-02 | $25.71 | $18,392,843,499 | 6 / 6 |
| 2026-11-03 | $25.71 | $18,392,843,499 | 6 / 6 |
| 2026-11-04 | $25.71 | $18,392,843,499 | 6 / 6 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 2 Buy / Strong Buy · 6 Hold · 1 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 5 recorded
3 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Next earnings date unavailable
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Review earnings4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.