Risk Sleuth
RS · 10-K filed 26 Feb 2026 · year to 31 Dec 2025

Reliance

18 named things its latest annual report says its results depend on, each in the company's own words. 12 of them are also named by other companies we've read.

Suppliers

North American metals mills

depends onnamed as a risk
We strategically source the vast majority of our metal purchases from domestic producers and believe we are one of the largest customers of the North American primary metals producers (“mills”).Business (Item 1)

Mill consolidation

depends onnamed as a risk
This consolidation has reduced the number of suppliers available to us, which may limit our ability to obtain the necessary metals to service our customers.Risk factors (Item 1A)

Other companies

Secured Overnight Financing Rate (SOFR)

exposed to its price · $677.0 million of outstanding borrowingsnamed as a risk
As of December 31, 2025, we had a total of $677.0 million of outstanding borrowings under our revolving credit facility and Term Loan that bore interest at variable rates based on SOFR.Market risk (Item 7A)

Also named by ABR, ADBE, AGM, AMG, ARCC, BCSF, BRO, CAT and 21 more

Collective bargaining agreements

approximately 11% of our employeesnamed as a risk
Approximately 11% of our employees are covered by collective bargaining agreements and/or are represented by unions or workers’ councils with 2% of our employees covered by 15 different collective bargaining agreements that expire in 2026 unless renewed.Risk factors (Item 1A)

Also named by APG, BALL, CAG, CARR, HLT, HSY, IEX, KR and 10 more

Foreign metal imports into the U.S.

competes withnamed as a risk
Excessive imports of metal into the U.S. have exerted, and may continue to exert, downward pressure on U.S. metal prices.Risk factors (Item 1A)

Competitors

Alternative materials (composites, plastics, carbon fiber)

competes withnamed as a risk
As a result of increasingly stringent regulatory requirements, designers, engineers and industrial manufacturers, especially those in the automotive industry, may be increasing their use of lighter weight and alternative materials, such as composites, plastics, glass and carbon fiber.Risk factors (Item 1A)

Places

International operations (outside U.S.)

operates in · Approximately 6% of our 2025 consolidated net salesnamed as a risk
Approximately 6% of our 2025 consolidated net sales were from operations outside the U.S., subjecting us to the risks of doing business on a global level.Risk factors (Item 1A)

Also named by APG, AXP, CARR, COP, COST, DD, ECL, EQIX and 14 more

United States

concentrated in · approximately 17% of the total tons sold by the U.S. metals service center industry
According to the MSCI reporting of industry tons sold in the U.S., our 2025 tons sold from our U.S. locations represented approximately 17% of the total tons sold by the U.S. metals service center industry compared to approximately 15% for 2024, reflecting our position as the industry leader in a highly fragmented market.Business (Item 1)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

Canada

earns from · approximately 28%, or $347.2 million of our total international sales
However, sales to international customers (based on the shipping destination) were approximately 9% of our consolidated 2025 net sales, or $1.26 billion, with sales to Canadian customers representing approximately 28%, or $347.2 million of our total international sales.Business (Item 1)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

Hazards

War in Ukraine

named as a risk
The war in Ukraine has led, is currently leading, and for an unknown period of time will continue to lead to disruptions in local, regional, national, and global markets and economies affected thereby, including in the global steel market.Risk factors (Item 1A)

Also named by AGX

Taiwan-China tensions

named as a risk
International political and military conflict, such as the war in Ukraine, increasing tensions between Taiwan and China, or evolving conflicts in the Middle East could materially adversely affect the global economy.Risk factors (Item 1A)

Commodities and inputs

Aluminum

exposed to its pricenamed as a risk
Our profitability is largely dependent upon the prices of the steel, aluminum and other metals we sell to our customers.Risk factors (Item 1A)

Also named by AAON, ACHR, ALSN, AYI, BA, BALL, BF/B, BWA and 59 more

Stainless steel

exposed to its pricenamed as a risk
We purchase large quantities of carbon steel, aluminum, stainless steel, alloy, and other metal products, which we sell to a variety of customers.Risk factors (Item 1A)

Also named by FLS, STE, WTS

Carbon steel

exposed to its pricenamed as a risk
Our profitability is largely dependent upon the prices of the steel, aluminum and other metals we sell to our customers.Risk factors (Item 1A)

Regulators

Occupational Safety and Health Administration (OSHA)

subject to
Our operations are also subject to laws and regulations relating to workplace safety and worker health, principally OSHA and related regulations, which, among other requirements, establish noise, dust and safety standards.Business (Item 1)

Also named by BLDR, CSW, CTOS, ECG, FIX, GVA, HLIO, IBP and 7 more

Laws and programs

OECD global minimum tax (Pillar Two)

subject to · 15%named as a risk
The Organization for Economic Cooperation and Development (“OECD”) has created a framework among 140 countries with the objective of implementing a global minimum effective tax rate of 15%.Risk factors (Item 1A)

Also named by AAPL, APP, ARW, AXP, BAC, BALL, CB, CBRE and 15 more

U.S. Section 232 steel and aluminum tariffs

subject to · 50%named as a risk
If the Section 232 measures are removed or substantially lessened, whether through legal challenge, legislation, executive action or otherwise, then imports of foreign metals would likely increase and metal prices in the U.S. would likely fall, which could materially adversely affect our revenues, financial results and cash flows.Risk factors (Item 1A)

Also named by ESAB, FLS, IR, LRCX, SON, VMI, WES

Dodd-Frank Act conflict minerals provisions

subject to
We are subject to the conflict mineral provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.Business (Item 1)

Also named by DELL