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), North America's premier metals service center, delivers essential updates through this dedicated news hub. Track official announcements, operational developments, and strategic initiatives from the leader in value-added metal processing and distribution.
Investors and industry professionals access curated updates including earnings reports, facility expansions, sustainability efforts, and supply chain innovations. Our coverage spans RS's core markets: construction materials, aerospace alloys, automotive-grade metals, and specialized industrial applications.
This resource simplifies monitoring of critical business activities through verified press releases and market analyses. Discover how RS maintains its leadership across 300+ global locations while adapting to evolving industry demands and material science advancements.
Bookmark this page for real-time insights into Reliance's operational milestones, partnership announcements, and technological investments that shape the metals distribution landscape.
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.
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