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Reliance, Inc. - $RS STOCK NEWS

Welcome to our dedicated page for Reliance news (Ticker: $RS), a resource for investors and traders seeking the latest updates and insights on Reliance stock.

Reliance, Inc. (NYSE: RS) is the largest metals service center company in North America, headquartered in Los Angeles, California. Founded in 1939, the company has evolved into a global diversified metal solutions provider with a network of over 320 locations in 40 states and 12 countries outside the United States. Reliance offers value-added metals processing services and distributes over 100,000 metal products including galvanized, hot-rolled and cold-finished steel, stainless steel, aluminum, brass, copper, titanium, and alloy steel. These products are utilized by more than 125,000 customers across a broad range of industries.

Reliance focuses on small orders with quick turnaround and value-added processing services, ensuring approximately 40% of orders are delivered within 24 hours. As of 2023, the company's average order size was $3,210, with around 51% of orders including value-added processing. Recent achievements include the acquisition of Cooksey Iron & Metal Company, Mid-West Materials, and American Alloy Steel, which have collectively added nearly $500 million in annualized net sales to Reliance.

Under the leadership of President and CEO Karla Lewis, Reliance has maintained strong financial performance, delivering annual earnings per diluted share of $22.64 in 2023, the second highest in the company's history. The company generated significant cash flow from operations, totaling $1.67 billion in 2023, which was allocated towards growth opportunities, capital expenditures, and returning value to stockholders through dividends and share repurchases.

Reliance serves a diverse range of end markets including non-residential construction, aerospace, automotive, industrial machinery, consumer products, and heavy equipment. The company's strategic investments in organic growth and acquisitions continue to bolster its market share and enhance its value-added processing capabilities. In response to evolving market conditions and customer needs, Reliance remains committed to providing exceptional service and leveraging its strong balance sheet to fund profitable growth initiatives.

With a long-term positive outlook on the semiconductor market and other growth opportunities arising from government initiatives such as the Infrastructure Bill and the CHIPS Act, Reliance is well-positioned to benefit from these developments. The company also focuses on maintaining a strong balance sheet, with cash and cash equivalents totaling $934.9 million as of March 31, 2024, and no outstanding borrowings under its $1.5 billion revolving credit facility.

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FAQ

What does Reliance, Inc. do?

Reliance, Inc. provides value-added metals processing services and distributes a wide range of metal products including steel, aluminum, brass, copper, and titanium to various industries.

Where is Reliance, Inc. headquartered?

Reliance, Inc. is headquartered in Los Angeles, California.

How many locations does Reliance, Inc. operate?

Reliance, Inc. operates over 320 locations across 40 states and 12 countries outside the United States.

Who are the primary customers of Reliance, Inc.?

Reliance, Inc. serves more than 125,000 customers in a broad range of industries, including non-residential construction, aerospace, automotive, and manufacturing.

What is the average order size at Reliance, Inc.?

As of 2023, the average order size at Reliance, Inc. is $3,210, with around 51% of orders including value-added processing.

What are some recent acquisitions by Reliance, Inc.?

Recent acquisitions by Reliance, Inc. include Cooksey Iron & Metal Company, Mid-West Materials, and American Alloy Steel.

How does Reliance, Inc. ensure quick turnaround times?

Reliance, Inc. focuses on small orders with quick turnaround and value-added processing services, ensuring approximately 40% of orders are delivered within 24 hours.

What are some of the end markets served by Reliance, Inc.?

Reliance, Inc. serves a diverse range of end markets including non-residential construction, aerospace, automotive, industrial machinery, consumer products, and heavy equipment.

What is the financial condition of Reliance, Inc.?

Reliance, Inc. maintains a strong financial position with significant cash flow from operations, a healthy balance sheet, and no outstanding borrowings under its $1.5 billion revolving credit facility.

How does Reliance, Inc. plan to achieve future growth?

Reliance, Inc. plans to achieve future growth through strategic investments in organic growth opportunities, acquisitions, and leveraging government initiatives such as the Infrastructure Bill and the CHIPS Act.

Reliance, Inc.

NYSE:RS

RS Rankings

RS Stock Data

16.12B
56.85M
0.58%
81.26%
1.21%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
Link
United States of America
SCOTTSDALE

About RS

reliance steel & aluminum co. (nyse:rs) headquartered in los angeles, california, is the largest metals service center company in north america. through a network of more than 300 locations in 39 states and 12 countries outside of the united states, the company provides value-added metals processing services and distributes a full line of over 100,000 metal products. these products include galvanized, hot-rolled and cold-finished steel, stainless steel, aluminum, brass, copper, titanium and alloy steel sold to more than 125,000 customers in a broad range of industries. some of these metals service centers provide processing services for specialty metals only. in the mid-1970's, the company began to establish specialty metals centers stocked with inventories of selected metals and equipped with automated materials handling and precision cutting equipment. beginning in the early 1990's, owners of successful service center companies started to sell these companies as they were reaching re