Reliance Inc Stock Price, News & Analysis

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.

Reliance Steel & Aluminum Co. (NYSE: RS) announced the scheduled release of its third quarter 2022 financial results for the period ending September 30, 2022, on October 27, 2022, at 6:50 a.m. ET. A conference call will follow at 11:00 a.m. ET, accessible via their investors' website. For those unable to attend, a replay will be available from 2:00 p.m. ET on the same day until November 10, 2022. The company operates over 315 locations globally, emphasizing quick turnaround and value-added processing services.

Reliance Steel & Aluminum Co. (NYSE: RS) announced the resignation of CEO James D. Hoffman, effective December 31, 2022, and appointed Karla R. Lewis as his successor starting January 1, 2023. Hoffman will remain on the Board and assist as Senior Advisor until December 2023. The Board praised Hoffman's leadership during the pandemic, which helped achieve record revenues and profitability. Lewis has been with the company for 30 years and will retain her position as President while leading the organization into its next chapter.