Reliance Inc Stock Price, News & Analysis

Reliance Steel & Aluminum Co. reported record financial results for Q2 2021, achieving net sales of $3.42 billion, a 20.4% increase from Q1. Gross profit reached $1.08 billion with a margin of 31.7%. The company also posted a pretax income of $444.1 million and earnings per share (EPS) of $5.08, both records. Reliance has increased its share repurchase program to $1 billion and raised its estimated sustainable gross profit margin range to 29%-31%. The outlook for Q3 anticipates a slight change in tons sold and an increase in average selling price per ton.

Reliance Steel & Aluminum Co. (NYSE:RS) will report its second quarter 2021 financial results on July 22, 2021, at 6:50 a.m. Eastern Time. A conference call will follow at 11:00 a.m. Eastern Time, accessible via the company’s website. Investors can access a replay of the call or a webcast on the investor section of their site. Founded in 1939, Reliance Steel is a leading global diversified metal solutions provider, operating approximately 300 locations across 40 states and 13 countries. They focus on small orders with rapid turnaround, highlighting their value-added processing capabilities.

Reliance Steel & Aluminum Co. (NYSE: RS) announced the retirement of Executive Vice President, Operations, William K. Sales, effective January 2022. He will transition to Special Advisor starting July 1, 2021. The company also promoted Sean M. Mollins to Senior Vice President, Operations, and Brian Yamaguchi to Vice President, Supplier Development. These changes support a robust succession plan aimed at fostering continuous growth in the metals service center industry, according to CEO Jim Hoffman.

Reliance Steel & Aluminum Co. (NYSE: RS) will participate in several upcoming virtual conferences. Key executives, including CEO James Hoffman and President Karla Lewis, will present at:

• The Goldman Sachs Industrials and Materials Conference on May 13, 2021, at 11:20 a.m. ET.
• The BofA Securities Global Metals, Mining & Steel Conference on May 18, 2021, at 2:20 p.m. ET.
• The KeyBanc Industrials & Basic Materials Conference on June 2, 2021, at 2:00 p.m. ET.

All presentations will be webcast live on the Company’s website, with replays available for 90 days.

Reliance Steel & Aluminum Co. (NYSE: RS) achieved record financial results for Q1 2021, reporting net sales of $2,838.4 million, a 33% increase sequentially. Gross profit reached $953.7 million with a gross margin of 33.6%. The company reported pretax income of $359.0 million and EPS of $4.12, reflecting increases of 116.1% and 105.0%, respectively. Cash flow from operations stood at $161.8 million, despite a $182.8 million working capital investment. The strong performance is attributed to robust demand and high metals pricing, with expectations for continued strength in Q2.

Reliance Steel & Aluminum Co. (NYSE: RS) will report its first quarter 2021 financial results on April 22, 2021, at 6:50 a.m. ET. A conference call with management will follow at 11:00 a.m. ET, accessible via the company's website. Interested participants can join through dial-in numbers provided or listen to a live webcast. For those unable to attend, a replay will be available from the same day at 2:00 p.m. ET until May 6, 2021. Reliance Steel, founded in 1939, is a leading metal solutions provider, operating approximately 300 locations globally.

Reliance Steel & Aluminum Co. (NYSE: RS) will participate in the J.P. Morgan 2021 Industrials Conference on March 16, 2021. Key executives, including CEO James Hoffman and President Karla Lewis, will present virtually at 5:20 p.m. ET and engage in investor meetings throughout the day. The presentation will be available for live streaming and on-demand viewing for 90 days on their website. Reliance is recognized as a leading global metal solutions provider with over 100,000 products and a network of 300 locations.

Reliance Steel & Aluminum Co. (RS) reported strong financial results for Q4 and FY 2020, achieving a record gross profit margin of 33.0% in Q4 and 31.5% for the year. Annual EPS was $5.66, with a non-GAAP EPS of $7.71. The company generated $1.17 billion in cash flow from operations and repurchased $337.3 million in shares. A quarterly dividend was increased by 10% to $0.6875 per share. For Q1 2021, Reliance expects a 10%-12% increase in tons sold and a 12%-14% rise in average selling prices, with anticipated non-GAAP EPS of $3.40 to $3.50.

Reliance Steel & Aluminum Co. (NYSE:RS) announced it will disclose its fourth quarter and full year 2020 financial results on February 18, 2021, at 6:50 a.m. ET. A conference call hosted by management will follow at 11:00 a.m. ET, available via the company's investor website. For those unable to attend live, a replay will be accessible starting 2:00 p.m. ET the same day until March 4, 2021. Reliance, founded in 1939, operates over 300 locations globally and offers a wide range of over 100,000 metal products and value-added services.