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Reliance Steel & Aluminum Co. Reports Third Quarter 2020 Financial Results

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- Record gross profit margin of 32.4%
- EPS of $1.51, non-GAAP EPS of $1.87
- Pretax income of $127.0 million, non-GAAP pretax income of $158.0 million
- Generated cash flow from operations of $296.3 million
- Declared quarterly dividend of $0.625 per share

LOS ANGELES, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Reliance Steel & Aluminum Co. (NYSE: RS) today reported its financial results for the third quarter ended September 30, 2020 (in millions, except tons which are in thousands and per share amounts).

                
     Sequential
Quarter
 Nine Months Ended
September 30,
 Year-Over-
Year
   Year-Over-
Year
 Q3 2020 Q2 2020 % Change  2020   2019  % Change Q3 2019 % Change
Income Statement Data:                
Net sales$2,085.6  $2,019.3  3.3% $6,677.8  $8,526.0  (21.7%) $2,685.9  (22.4%)
Gross profit1 $676.1  $614.7  10.0% $2,071.5  $2,535.2  (18.3%) $814.7  (17.0%)
Gross profit margin1  32.4%  30.4% 2.0%  31.0%  29.7% 1.3%  30.3% 2.1%
Non-GAAP gross profit margin1,2 32.4%  30.4% 2.0%  31.6%  29.7% 1.9%  30.3% 2.1%
Non-GAAP pretax income adjustments2$31.0  $10.4  198.1% $178.9  $0.3  *  $
(0.9) * 
Pretax income$127.0  $102.0  24.5% $312.1  $719.7  (56.6%) $218.4  (41.8%)
Non-GAAP pretax income$158.0  $112.4  40.6% $491.0  $720.0  (31.8%) $217.5  (27.4%)
Net income attributable to Reliance$97.6  $80.2  21.7% $239.5  $535.9  (55.3%) $162.7  (40.0%)
Diluted EPS$1.51  $1.24  21.8% $3.66  $7.90  (53.7%) $2.40  (37.1%)
Non-GAAP diluted EPS2$1.87  $1.36  37.5
Reliance Steel & Aluminum Co.

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Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
Link
Non-Energy Minerals, Steel
US
Los Angeles

About RS

reliance steel & aluminum co. (nyse:rs) headquartered in los angeles, california, is the largest metals service center company in north america. through a network of more than 300 locations in 39 states and 12 countries outside of the united states, the company provides value-added metals processing services and distributes a full line of over 100,000 metal products. these products include galvanized, hot-rolled and cold-finished steel, stainless steel, aluminum, brass, copper, titanium and alloy steel sold to more than 125,000 customers in a broad range of industries. some of these metals service centers provide processing services for specialty metals only. in the mid-1970's, the company began to establish specialty metals centers stocked with inventories of selected metals and equipped with automated materials handling and precision cutting equipment. beginning in the early 1990's, owners of successful service center companies started to sell these companies as they were reaching re

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