Reliance Inc Stock Price, News & Analysis

Reliance Steel & Aluminum Co. (NYSE: RS) announced participation in two upcoming virtual conferences. The first is the Goldman Sachs Global Metals & Mining Virtual Conference on November 18, 2020, featuring CEO James Hoffman and CFO Karla Lewis presenting and engaging with investors. The second event is the Citi 2020 Basic Materials Virtual Conference on December 2, 2020, where Karla Lewis and SVP Stephen Koch will conduct investor meetings. The Goldman Sachs presentation will be available as a live webcast on their website, with a replay accessible for 90 days.

Reliance Steel & Aluminum Co. (NYSE: RS) reported strong Q3 2020 results, achieving a gross profit margin of 32.4% and diluted EPS of $1.51, up 21.8% sequentially. The company generated $676.1 million in gross profit, a 10.0% increase from Q2 2020. However, net sales totaled $2,085.6 million, reflecting a decline of 21.7% year-over-year. The company declared a quarterly dividend of $0.625 per share and reported cash flow from operations of $296.3 million.

Reliance Steel & Aluminum Co. (NYSE:RS) will announce its third quarter 2020 financial results on October 22, 2020, at 6:50 a.m. ET. A conference call will follow at 11:00 a.m. ET, accessible via the Company's investor website. For those unable to join live, a replay will be available from 2:00 p.m. ET on the same day until November 5, 2020. The company, a leading global diversified metal solutions provider, is headquartered in Los Angeles and operates over 300 locations across North America and beyond.

Reliance Steel & Aluminum Co. (NYSE: RS) will participate in the Morgan Stanley Virtual 8th Annual Laguna Conference on September 17, 2020. The company's CEO, James Hoffman, and CFO, Karla Lewis, are scheduled to present at 4:30 p.m. ET and engage in virtual meetings with investors. The presentation will be available via a live webcast on the company's website, with a replay accessible for 90 days post-event.

Reliance Steel & Aluminum Co. (NYSE: RS) has announced an amended and restated $1.5 billion unsecured revolving credit facility, set to replace the existing credit agreement. This facility includes an option to increase the amount by $1 billion and allows for prepayments, without any current outstanding balance. CEO Jim Hoffman highlighted that the favorable terms enhance liquidity, enabling the company to pursue growth and shareholder returns amidst challenging market conditions. The announcement follows the recent $900 million senior notes offering, further strengthening the company's financial position.

Reliance Steel & Aluminum Co. (NYSE: RS) announced CEO James Hoffman and CFO Karla Lewis will speak at the Jefferies Virtual Industrials Conference on August 5, 2020. The presentation is scheduled for 3:00 p.m. ET and will be accessible via a live webcast on the company’s investor website. A replay will be available for 90 days post-event. Founded in 1939, Reliance is a leading global metals solutions provider with over 300 locations and a diverse product line, focusing on small orders with quick turnaround and value-added processing.

Reliance Steel & Aluminum Co. (NYSE: RS) has announced the pricing of a public offering of $400 million in 1.300% Senior Notes due 2025, and $500 million in 2.150% Senior Notes due 2030. The proceeds will be used to repay existing debt under its unsecured revolving credit facility and term loan, and for general corporate purposes. The offering is expected to close on August 3, 2020, subject to customary conditions. J.P. Morgan, BofA Securities, and Wells Fargo are the joint book-running managers for the offering.

Reliance Steel & Aluminum Co. (NYSE: RS) reported Q2 2020 financial results, showing a strong gross profit margin of 30.4% on net sales of $2.02 billion. The company generated cash flow from operations of $475.7 million and declared a quarterly dividend of $0.625 per share. While net sales fell 21.5% year-over-year, diluted EPS increased 34.8% to $1.24. The company is cautiously optimistic about demand recovery in the second half of 2020, particularly in non-residential construction, despite ongoing challenges due to COVID-19.

Reliance Steel & Aluminum Co. (NYSE: RS) will report its second quarter 2020 financial results on July 23, 2020, 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. Participants can dial (877) 407-0792 for U.S. and Canadian callers or (201) 689-8263 internationally. A replay will be available from 2:00 p.m. Eastern Time that same day until August 6, 2020. Reliance Steel, founded in 1939, is a leading diversified metal solutions provider and the largest metals service center company in North America.