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 a global diversified metal solutions provider and the largest metals service center company in North America. Founded in 1939, the company operates in the iron and steel mills and ferroalloy manufacturing industry and regularly issues detailed updates on its operating performance, demand trends, and capital allocation decisions. The RS news stream on Stock Titan aggregates these disclosures so readers can follow how the business evolves over time.
News about Reliance, Inc. frequently includes quarterly and year-to-date financial results, where the company reports metrics such as net sales, tons sold, gross profit margins, and earnings per share. Management commentary in these releases often discusses market share dynamics, performance relative to industry shipment trends, and demand conditions across end markets like non-residential construction, broader manufacturing, aerospace, automotive toll processing, and the semiconductor market.
Investors can also expect regular announcements about upcoming earnings release dates and associated conference calls, as well as participation in industrial and materials conferences hosted by financial institutions. These items provide insight into how Reliance communicates with the investment community and frame the timing of key information releases.
Additional RS news items cover capital structure and corporate developments, such as the company’s entry into a $400 million unsecured term loan facility used to refinance maturing senior unsecured notes, and updates on dividends and share repurchase activity as described in earnings releases. Governance-related news, including changes to the Board of Directors and the adoption of policies like the Executive Severance Policy, also appear in the company’s public communications.
By following the Reliance, Inc. news page, readers can review a chronological record of the company’s financial performance, end-market commentary, financing actions, and governance updates, all drawn from its press releases and related SEC-reported materials.
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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.