Reliance Inc Stock Price, News & Analysis

Reliance Steel & Aluminum Co. (RS) reported robust Q1 2023 results with net sales of $3.97 billion, a 9.8% increase from Q4 2022. Tons sold surged by 17.7%, highlighting strong demand. Gross profit margin stood at 30.9%, while pretax income reached $508.5 million, marking a 13.9% increase quarter-over-quarter. EPS was reported at $6.43, demonstrating a 9.4% increase from the previous quarter. Cash flow from operations was strong at $384.6 million, although free cash flow decreased by 60.7%. The company continues to return capital to shareholders through dividends and stock repurchases.

The outlook for Q2 indicates stability in demand but expects tons sold to be flat to down 2% due to operational factors.

Reliance Steel & Aluminum Co. (NYSE: RS) will release its first quarter 2023 financial results on April 27, 2023, at 6:50 a.m. Eastern Time. The company will hold a conference call at 11:00 a.m. Eastern Time that same day, which will be accessible via its website. A replay of the call will be available from 2:00 p.m. Eastern Time on April 27 until May 11, 2023. Reliance Steel & Aluminum Co., established in 1939, is North America's largest metals service center company, with approximately 315 locations in 40 states and 12 countries. The company serves over 125,000 customers, offering more than 100,000 metal products. In 2022, the average order size was $3,670, with 50% of orders including value-added processing.

On March 9, 2023, Reliance Steel & Aluminum Co. (NYSE:RS) donated $1 million to Ronald McDonald House Charities (RMHC). The donation was presented by CEO Karla Lewis during the Reliance Managers’ Meeting. This contribution marks a significant enhancement of the Reliance Cares program, which supports employee engagement and local communities. RMHC provides vital healthcare access to families with sick children, reinforcing Reliance's commitment to community wellbeing. The donation is intended to foster in-person and virtual connections for Reliance employees with RMHC's mission, covering 12 countries and 40 U.S. states.

Reliance Steel & Aluminum Co. (NYSE: RS) will participate in the BMO Global Metals, Mining & Critical Minerals Conference on March 1, 2023, in Hollywood, Florida. CEO Karla Lewis and CFO Arthur Ajemyan are scheduled to present at 8:00 a.m. ET and engage in investor meetings throughout the day. The presentation will be available via live webcast on the Company’s website, with a replay accessible for 90 days post-event. Founded in 1939, Reliance is the largest metals service center company in North America, operating around 315 locations globally and distributing over 100,000 metal products to over 125,000 customers.

Reliance Steel & Aluminum Co. reported a record annual net sales of $17.03 billion for 2022, marking a 20.8% increase from 2021. The company's pretax income reached $2.43 billion with a pretax income margin of 14.3%. Diluted earnings per share were $29.92, a 36.2% increase year-over-year. Cash flow from operations also hit a record of $2.12 billion. The company repurchased $630.3 million of common stock and increased the quarterly dividend by 14.3% to $1.00 per share. Looking ahead, Reliance anticipates a 11% to 13% increase in tons sold for Q1 2023 compared to the previous quarter.

Reliance Steel & Aluminum Co. (NYSE:RS) is set to announce its fourth quarter and full year 2022 financial results on February 16, 2023, at 6:50 a.m. Eastern Time. The company will host a conference call at 11:00 a.m. Eastern Time, available via webcast on their investor website. For those unable to join live, a replay will be accessible starting at 2:00 p.m. Eastern Time on the same day until March 2, 2023. The company operates over 315 locations globally, focusing on quick turnaround and value-added processing services, serving a diverse customer base.

Reliance Steel & Aluminum Co. (NYSE: RS) announced it will redeem all outstanding 4.500% Senior Notes due April 15, 2023, on January 15, 2023. The total principal amount is $500 million. Holders of the notes will receive 100% of the principal plus any accrued interest until the redemption date. The redemption follows the terms of the indenture governing the Senior Notes. Reliance is a leading metal solutions provider, offering over 100,000 products and services to 125,000 customers globally.

Reliance Steel & Aluminum Co. (NYSE: RS) will participate in the Goldman Sachs Global Metals & Mining Conference on November 17, 2022. CEO James Hoffman, President Karla Lewis, and CFO Arthur Ajemyan are scheduled to present at 9:45 a.m. ET, with additional investor meetings throughout the day. The presentation will be webcast live on the Company's website, and a replay will be accessible for 90 days following the event. Reliance is a leading global metal solutions provider, servicing over 125,000 customers through 315 locations worldwide.

Reliance Steel & Aluminum Co. (NYSE: RS) reported a record third-quarter net sales of $4.25 billion, a 10.4% year-over-year increase. EPS stood at $6.45, with non-GAAP EPS at $6.48. Despite a 29.5% decline in diluted EPS from the previous quarter, the company achieved record cash flow from operations of $635.7 million. Reliance repurchased 1.9 million shares for $336.7 million. The company anticipates a 6.5% to 8.5% decline in tons sold for Q4 2022 due to seasonal factors, while projecting non-GAAP EPS between $4.30 and $4.50.