Reliance Inc Stock Price, News & Analysis

Reliance Steel & Aluminum Co. (NYSE:RS) will announce its fourth quarter and full year 2021 financial results on February 17, 2022, at 6:50 a.m. ET. A conference call will follow at 11:00 a.m. ET, available via the company's investor website. For those who cannot attend live, a replay will be accessible until March 3, 2022. Reliance is a diversified metal solutions provider with approximately 300 locations globally, serving over 125,000 customers. The company focuses on small orders with quick turnaround and value-added processing.

Reliance Steel & Aluminum Co. (NYSE:RS) has acquired Rotax Metals, Inc., a specialty metals service center focused on copper, bronze, and brass alloys, located in Brooklyn, New York. Founded in 1947, Rotax reported annual net sales of approximately $14 million for the year ending July 31, 2021. The acquisition is aligned with Reliance's strategy to boost product diversification and enhance customer service through its subsidiary, Yarde Metals. The terms of the transaction remain undisclosed.

Reliance Steel & Aluminum Co. (NYSE:RS) has acquired Admiral Metals Servicecenter Company, a key distributor of non-ferrous metal products in the Northeastern U.S. Established in 1950, Admiral Metals generated approximately $134 million in net sales in 2020. This acquisition expands Reliance's specialty non-ferrous product offerings and enhances its service capabilities with next-day delivery across eight locations. CEO Jim Hoffman stated that Admiral’s strong reputation aligns with Reliance’s growth strategy, marking the company's 70th acquisition since 1994.

Reliance Steel & Aluminum Co. (NYSE:RS) has acquired Nu-Tech Precision Metals Inc., a custom manufacturer of specialty extruded metals and welded components, based in Ontario, Canada. Founded in 1985, Nu-Tech reported annual net sales of approximately $44 million in 2020. The acquisition supports Reliance's strategy of investing in high-margin businesses and enhances its product offerings in key markets such as nuclear and aerospace. CEO Jim Hoffman emphasized the strategic importance of Nu-Tech's operations in fostering growth and diversification for Reliance.

Reliance Steel & Aluminum Co. (NYSE: RS) announced that CEO James Hoffman, President Karla Lewis, and CFO Arthur Ajemyan will participate in the Goldman Sachs Global Metals & Mining Conference on November 18, 2021, at 2:00 p.m. ET. The event will feature a live webcast on the company's investor website, with a replay available for 90 days. Founded in 1939, Reliance is a leading diversified metal solutions provider, operating around 300 locations and serving over 125,000 customers globally, focusing on small orders and quick turnaround.

Reliance Steel & Aluminum Co. reported record financial results for Q3 2021, achieving $3.85 billion in net sales and a gross profit of $1.21 billion, marking a gross profit margin of 31.5%. The company recorded a pretax income of $532.6 million and earnings per diluted share of $6.15, up 21.1% from the previous quarter. The highlights included a 19.9% increase in pretax income from Q2 and an acquisition of Merfish United for enhanced market positioning. Despite challenges like supply chain disruptions and labor shortages, the company's outlook remains positive.

Reliance Steel & Aluminum Co. (NYSE: RS) will report its third quarter 2021 financial results on October 28, 2021, at 6:50 a.m. Eastern Time. The management conference call is scheduled for the same day at 11:00 a.m. Eastern Time, available via a live internet broadcast on the company’s investor website.

Participants can access a replay of the call starting at 2:00 p.m. Eastern Time on the same day until November 11, 2021. Reliance Steel is a leading global diversified metal solutions provider with approximately 300 locations across 40 states and 13 countries.

Reliance Steel & Aluminum Co. (NYSE: RS) has appointed Frank J. Dellaquila as an independent director, effective October 5, 2021. His term will last until the 2022 Annual Meeting of Stockholders. Dellaquila, who has extensive experience in strategic leadership and financial expertise, will also serve on the company's Audit Committee, designated as a financial expert. His addition brings the Board composition to 12 members, with 10 being independent. Reliance, founded in 1939, is a leading global diversified metal solutions provider with around 300 locations worldwide.

Reliance Steel & Aluminum Co. (NYSE:RS) has acquired Merfish United, a master distributor of tubular building products, effective October 1, 2021. Merfish United, headquartered in Ipswich, MA, operates 12 distribution centers across the U.S. and reported net sales of approximately $500 million for the year ending June 30, 2021. This acquisition expands Reliance's product and market diversification, particularly in copper and plastic products, and enhances its industrial distribution capabilities. The financial terms of the transaction were not disclosed.