RSRSEarnings Analysis财报电话会Source pending来源待核by InvestLog AIInvestLog AI 整理
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RS earnings call: With respect to LIFO outlook and true-up, we increased our full year LIFO expense outlook to $450 million from our prior year estimate of $300 million and recorded third quarter LIFO expense of $187.5 million, well above our estimate of $75 million, reflecting the year-to-date catch-up impact of our higher full year LIFO estimate.Reliance, Inc. (RS) 电话会：关于LIFO预期及调整，我们将全年LIFO费用预期从此前的3亿美元上调至4.5亿美元，且已记录的第三季度LIFO费用为1.875亿美元，远高于此前预期的7500万美元，这反映了全年更高LIFO预期带来的年初至今追赶影响。
Management remarks
Call period: 2026 Q3 · 2026-10-22
Guidance: Arthur Ajemyan: With respect to LIFO outlook and true-up, we increased our full year LIFO expense outlook to $450 million from our prior year estimate of $300 million and recorded third quarter LIFO expense of $187.5 million, well above our estimate of $75 million, reflecting the year-to-date catch-up impact of our higher full year LIFO estimate.
Margins: Arthur Ajemyan: Gross profit margin of 27.9% decreased 20 basis points sequentially due to increased LIFO expense associated with carbon steel costs rising significantly more than anticipated and the product mix impact of the U.S.
Analyst Q&A
Analyst Lawson Winder asked: If I could just follow up on the border wall question. Thank you for the color around that and the fact that you believe it is starting to hit its run rate. What about sustainability? Management Karla Lewis answered: So as we mentioned and when we first announced the border wall project earlier this year, there was Phase 1 of the border wall which the award was on -- based on dollar amounts and these are fully approved funding levels by the government. Phase 1 was $1.45 billion, which we are executing under right now. The initial expectation was for that to run through Q2 2027. And at the run rate we're at, we think sometime in Q2, we'll fulfill the first phase of this.
