Reliance Inc Stock Price, News & Analysis

Reliance Steel & Aluminum Co. (NYSE: RS) will present at the Goldman Sachs Industrials and Materials Conference on May 11, 2022. CEO James Hoffman, President Karla Lewis, and CFO Arthur Ajemyan will participate. The presentation is scheduled for 8:00 a.m. ET and will be webcast live on the company's investor website. A replay will be available for 90 days post-event. Reliance Steel, founded in 1939, operates around 315 locations globally and is the largest metals service center company in North America, catering to over 125,000 customers.

Reliance Steel & Aluminum Co. (NYSE: RS) reported record quarterly sales of $4.49 billion for Q1 2022, reflecting a 12.5% increase sequentially and a 58.0% rise year-over-year. The gross profit reached $1.39 billion, with a stable margin of 30.9%. Net income rose 24.2% to $523.3 million, resulting in a diluted EPS of $8.33. Cash flow from operations was at an all-time high of $404 million. The company anticipates steady demand growth, projecting Q2 tons sold to be flat to up 2.0%, with EPS guidance set between $9.00 to $9.10.

Reliance Steel & Aluminum Co. (NYSE:RS) will release its first quarter 2022 financial results on April 28, 2022, at 6:50 a.m. ET. A conference call will follow at 11:00 a.m. ET, accessible through their website. Investors can dial in at (877) 407-0792 or (201) 689-8263 for international calls. Additionally, a replay will be available from 2:00 p.m. ET the same day until May 12, 2022. Reliance, the largest metals service center in North America, continues to focus on quick turnaround and value-added processing services.

Reliance Steel & Aluminum Co. (NYSE: RS) announced that key executives, including CEO James Hoffman, will participate in the J.P. Morgan 2022 Industrials Conference on March 15, 2022. The company is scheduled to present at 1:20 p.m. ET, with additional investor meetings throughout the day. The presentation will be webcast live and available for replay for 90 days on the company's website. Reliance is a leading global diversified metal solutions provider, with over 100,000 metal products and a network of approximately 315 locations, emphasizing quick turnaround and value-added services.

Reliance Steel & Aluminum Co. reported record annual net sales of $14.09 billion, with a gross profit of $4.49 billion and a gross profit margin of 31.9% for the year ending December 31, 2021. The company achieved an annual EPS of $21.97 and four acquisitions totaling $439 million in Q4 2021, adding $1.0 billion in annualized sales. A 27.3% quarterly dividend increase to $0.875 per share was announced. The outlook suggests a continued strong demand across key markets despite supply chain issues.

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.