PHOENIX, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that it will report fourth quarter and full year 2025 financial results for the period ended December 31, 2025, on Wednesday, February 18, 2026, after the market closes. Reliance management will host a conference call on Thursday, February 19, 2026, at 11:00 a.m. Eastern Time. The call will be broadcast live over the Internet hosted on the Investors section of the Company's website at reliance.com. Reliance, Inc. Fourth Quar ...

Company Overview - Reliance Inc. is identified as the largest metal service center company in North America, with leadership represented by President and CEO Karla Lewis and Executive Vice President and COO Steve Koch [1]. Event Details - The presentation is hosted by Michael Harris from Goldman Sachs, indicating a formal setting for discussing Reliance Inc.'s operations and strategies [1]. - The event allows for audience participation, encouraging questions from attendees, which suggests an interactive format aimed at engaging stakeholders [3].

Summary of Reliance (NYSE:RS) 2025 Conference Call Company Overview - **Company**: Reliance, Inc. - **Industry**: Metal Service Center - **Sales**: Approximately $15 billion - **Locations**: About 320, primarily in the U.S. with some international presence - **Business Model**: Purchases metal in bulk, warehouses it, and sells in smaller quantities, focusing on value-added processing for about 50% of orders - **Average Order Size**: $3,000 per order - **Delivery Capability**: 40% of orders delivered the next day [3][4] Market Sentiment and Outlook - **End Markets**: Non-residential construction and general manufacturing are experiencing healthy demand - **Data Centers**: Significant growth expected over the next 5 to 10 years, with strong sales into construction and internal mechanisms [5][6] - **General Manufacturing**: Steady demand, particularly in consumer products, rail, shipbuilding, and defense-related sectors [6][7] - **Aerospace**: Strong demand expected to continue, with multi-year backlogs [8][9] - **Semiconductors**: Current struggles due to overstocking but anticipated growth as new chip plants are built [9] - **Defense Spending**: Increased U.S. government spending on military and defense projects expected to drive growth [9][10] Competitive Advantages - **Decentralized Structure**: Decision-making close to customers enhances service and relationship management [4][18] - **Fleet Management**: Owns a fleet of approximately 1,800 trucks, allowing for efficient delivery and logistics [19] - **Customer Service Focus**: Emphasis on maintaining strong relationships with customers, particularly smaller family-owned businesses [15][16] Growth Strategy - **Acquisitions**: Completed 76 acquisitions since IPO in 1994, focusing on companies that are accretive to earnings and have strong management [21][22] - **Organic Growth**: Increased capital expenditures on value-added processing equipment to meet customer demands [22][23] - **Market Segments**: Targeting growth in flat rolled products and exploring new end markets [12][21] Capital Allocation - **Priorities**: Focus on profitable long-term growth through organic and acquisition strategies, alongside consistent shareholder returns [40][41] - **Dividend Policy**: Paid quarterly dividends for over 65 years, with a practice of annual increases [41] - **Share Repurchases**: Active in repurchasing shares opportunistically based on market conditions [41][42] Industry Dynamics - **Consolidation**: The industry is ripe for continued consolidation, with Reliance holding only 17% of the market share [27][28] - **Emerging Technologies**: Investment in automation and AI expected to enhance operational efficiency and maintain competitive edge [29][30][31] - **Mills and Distribution**: Reliance does not foresee a significant shift of mills re-entering the distribution business, as both sectors serve distinct market needs [34][35][38] Conclusion - **Outlook**: Reliance is well-positioned for future growth due to its diversified market presence, strong customer relationships, and strategic investments in technology and capacity [43][44]

Core Points - The presentation is led by Reliance's team, including President and CEO Karla Lewis and EVP and COO Steve Koch [1][2] - The event is organized by Robert W. Baird & Co. Incorporated, focusing on sustainable energy and mobility [1] Company Overview - Karla Lewis provides a brief background of herself before the presentation [2] - The session includes a Q&A segment, encouraging audience participation [2]

Summary of Reliance (NYSE:RS) FY Conference Call - November 13, 2025 Industry Overview - Reliance operates primarily in the metal service center industry, focusing on a diversified product mix to mitigate volatility in earnings due to fluctuating metal prices [1][2] - The company has a significant presence in the U.S. market, with operations also in Canada and Mexico, targeting specialty products in various end markets [2] Core Business Insights - Reliance reported $15 billion in sales with an average order size of $3,000, emphasizing a transactional business model with 40% of orders delivered the next day [3] - The company has increased its gross profit margin target from 25%-27% to 29%-31% by enhancing value-added processing, which is less susceptible to metal price fluctuations [5] - Currently, 50% of orders involve some level of value-added processing, up from 40% a decade ago, indicating a strategic focus on improving service and profitability [5] Market Dynamics - The company has seen a 6% increase in tons sold year-to-date, while the industry overall has experienced a 3% decline, showcasing Reliance's ability to gain market share [7] - Key end markets include infrastructure, data centers, and energy, with data centers identified as a particularly strong growth area [11][12] - The company anticipates continued growth in data center infrastructure spending, suggesting that the current cycle is still in its early stages [18] Financial Performance - Reliance has maintained a strong financial position with countercyclical cash flows, managing working capital effectively to sustain profitability [9] - The company has a history of paying dividends for 66 years and aims to increase dividends annually while also considering share repurchases [10] Strategic Growth and Acquisitions - Reliance has completed 76 acquisitions since going public in 1994, with a focus on opportunistic growth rather than setting specific targets [9] - In 2024, the company made four acquisitions, including an energy company and a flat roll company, which are performing well [42] - The company remains open to future acquisitions but emphasizes the importance of finding the right fit for its business model [43] Challenges and Considerations - The company has faced challenges related to tariffs and pricing strategies, particularly following the implementation of Section 232 tariffs in 2018, which initially created a favorable pricing environment [20][21] - Recent market conditions have led to a pinch in margins due to decreased demand and increased inventory levels, impacting the ability to pass through higher costs [22][23] Conclusion - Reliance's diversified approach, focus on value-added processing, and strategic market positioning have allowed it to outperform competitors in the metal service center industry [7][9] - The company is well-positioned for future growth, particularly in high-demand sectors like data centers and infrastructure, while maintaining a flexible approach to capital allocation and acquisitions [18][40]

Core Points - Real Estate Split Corp. has extended its maturity date for an additional 5 years to December 31, 2030 [1] - The new distribution rate for Preferred Shares will be $0.58 per annum, reflecting a 10.5% increase from the previous rate of $0.525 [2] - Class A Shareholders will maintain a targeted monthly distribution rate of $0.13 per share, with a total return of 6.2% per annum since inception [3] Company Strategy - The term extension allows Class A shareholders to continue benefiting from a diversified portfolio of North American real estate issuers, focusing on traditional property types and emerging sectors [4] - The portfolio includes industrial, multi-family, senior housing, and retail properties, as well as data centers, towers, and life science labs [4] - The Company employs a tactical asset-allocation strategy to optimize capital appreciation and income based on market conditions [4] Shareholder Options - Shareholders can continue holding their shares to receive the new distribution rate or retract their shares on December 31, 2025, with a calculated retraction price [4] - Shareholders wishing to retract must notify their investment dealer by November 27, 2025 [4] - Alternatively, shareholders may sell their shares through their securities dealer at market price, potentially achieving a higher price than through retraction [4]

Financial Performance - Net sales for the third quarter of 2025 were $3,651.2 million, a 6.8% increase from $3,420.3 million in the same period of 2024[72] - Gross profit margin for the third quarter of 2025 was 28.3%, down 1.1 percentage points from 29.4% in the third quarter of 2024[77] - Operating income for the third quarter of 2025 was $259.8 million, a decrease from $273.4 million in the third quarter of 2024, reflecting a decline in profitability[72] - Tons sold increased by 6.2% in the third quarter of 2025 compared to the same period in 2024, outperforming the industry-wide decline of 2.9%[74] - Net sales for Q3 2025 increased to $3,651.2 million, a 6.8% increase from $3,420.3 million in Q3 2024[84] - Tons sold in Q3 2025 reached 1,615.5 thousand tons, up 6.2% from 1,521.4 thousand tons in Q3 2024[84] - Average selling price per ton sold in Q3 2025 was $2,271, reflecting a 1.1% increase from $2,246 in Q3 2024[84] - Gross profit for Q3 2025 was $1,031.6 million, representing 28.3% of net sales, compared to 29.4% in Q3 2024[89] - Operating income for Q3 2025 decreased to $259.8 million, a decline of 5.0% from $273.4 million in Q3 2024[94] Cash Flow and Investments - Cash flow from operations for the nine months ended September 30, 2025, was $555.3 million, down from $956.5 million in the same period of 2024 due to increased working capital requirements[79] - Net cash provided by operations in the nine months ended September 30, 2025 was $555.3 million, down $401.2 million from $956.5 million in the same period in 2024[97] - Net cash used in investing activities was $232.7 million in the nine months ended September 30, 2025, a decrease of $440.7 million from $673.4 million in the same period in 2024[99] - Net cash used in financing activities decreased to $387.2 million in the nine months ended September 30, 2025, down $661.5 million from $1.05 billion in the same period in 2024[100] Shareholder Returns and Acquisitions - Returns to stockholders in the nine months ended September 30, 2025, were $585.2 million, a decline from $1.14 billion in the same period of 2024, attributed to decreased share repurchases[80] - The company did not complete any acquisitions during the nine months ended September 30, 2025, compared to $366.7 million spent on four acquisitions in the same period of 2024[81] - Combined net sales from 2024 acquisitions for the nine months ended September 30, 2025, were $294.3 million, up from $203.9 million in the same period of 2024[82] Debt and Liquidity - As of September 30, 2025, the company had remaining authorization to repurchase $963.6 million of its common stock under its $1.5 billion share repurchase program[103] - The company entered into a $400.0 million unsecured Term Loan Agreement maturing on August 14, 2028, using the proceeds to repay $400.0 million in senior unsecured notes due August 15, 2025[106] - As of September 30, 2025, the company had $261.2 million in cash and cash equivalents, with a net debt-to-total capital ratio of 13.3%, up from 10.2% as of December 31, 2024[108] - The company has $401.1 million of debt obligations due before the $1.5 billion unsecured revolving credit facility matures on September 10, 2029[109] - The company believes its liquidity sources, including $1.26 billion available for borrowing, will be sufficient for future operating needs and strategic growth[110] Assets and Compliance - Goodwill amounted to $2.17 billion as of September 30, 2025, representing approximately 21% of total assets and 30% of total equity[113] - Other intangible assets, net, totaled $977.6 million as of September 30, 2025, or approximately 9% of total assets and 13% of total equity[113] - The company was in compliance with the financial maintenance covenant under its Credit Agreement and Term Loan as of September 30, 2025[111] - There were no material changes to the company's critical accounting estimates compared to the previous year[117] Operational Trends - The effective income tax rate for Q3 2025 was 23.3%, consistent with the same period in 2024[96] - The company has a $1.5 billion revolving credit facility, which is expected to satisfy cash requirements and stockholder return activities over the next 12 months[108] - The company has not observed material seasonal trends in overall operations, although certain months typically show lower revenues due to holidays and customer closures[112]

Core Insights - Reliance Industries is experiencing a recovery after a two-year period of declining sales and margins, indicating a strong start to the year [1] Group 1: Company Performance - The company has shown signs of improvement in its financial performance, suggesting a potential turnaround [1] - Reliance is positioned to capitalize on various corporate events, including IPOs and mergers, which may enhance its market opportunities [1] Group 2: Investment Opportunities - The investment group "Value In Corporate Events" focuses on identifying actionable ideas from major corporate events, providing members with insights into potential investment opportunities [1] - The service covers approximately 10 significant events each month, aiming to find the best opportunities for investors [1]

Core Viewpoint - Reliance Steel & Aluminum Co. is highlighted as a strong investment opportunity amid US tariffs, with JPMorgan maintaining an 'Overweight' rating despite a slight reduction in the price target from $350 to $345 [1][2]. Group 1: Company Overview - Reliance Steel & Aluminum Co. is the largest metals service center in North America, processing and distributing a wide range of steel products and other metals [4]. - The company offers value-added processing services, including cutting and forming, and manages metal inventories, distributing over 100,000 different metal products to a diverse customer base across various industries [4]. Group 2: Market Position and Strategy - The company is focused on strategic acquisition opportunities and aims to navigate macroeconomic uncertainties while capitalizing on market opportunities [2][3]. - Carla Lewis, President and CEO, emphasized the company's commitment to pursuing acquisition opportunities that expand geographic reach and enhance value-added metal processing solutions, aligning with a strategy of smart profitable growth [3]. Group 3: Analyst Insights - JPMorgan's 'Overweight' rating reflects confidence in the company's growth prospects and long-term outlook, despite the challenges posed by tariffs and macroeconomic conditions [2].

Core Insights - Reliance, Inc. reported Q3 2025 profits of $189.5 million or $3.59 per share, a decrease from $199.2 million or $3.61 per share in the same quarter last year, and earnings of $3.64 per share excluding one-time items, which fell short of the Zacks Consensus Estimate of $3.68 [1][10] - The company achieved net sales of $3,651.2 million, reflecting a year-over-year increase of approximately 6.8%, surpassing the Zacks Consensus Estimate of $3,529.1 million [1][10] Segment Performance - Shipments increased by 6.2% year-over-year to 1,615.5 thousand tons, exceeding the estimate of 1,567.3 thousand tons, while the average selling price per ton rose 1.1% to $2,271, which was below the estimate of $2,285 [2] - Demand for non-residential construction, Reliance's largest end market, strengthened compared to Q3 2024, with expectations for continued healthy demand supported by investments in data centers and public infrastructure projects [3] - The broader manufacturing market saw improved demand year-over-year, particularly in military, industrial machinery, consumer products, shipbuilding, and rail sectors, although typical seasonal softness is anticipated in Q4 [4] - Aerospace demand remained stable, but commercial aerospace is expected to be subdued in Q4 due to excess inventory, while defense and space-related activities are projected to remain strong [5] - Demand for automotive toll processing services improved year-over-year, with expectations for steady performance in Q4, influenced by trade policy uncertainties [6] - The semiconductor market experienced soft demand relative to Q3 2024, with elevated inventory levels expected to continue impacting activity into Q4 [7] Financial Position - As of September 30, 2025, Reliance held $261.2 million in cash and cash equivalents, with total outstanding debt of $1.39 billion, including $238 million borrowed from a $1.5 billion revolving credit facility [8] - The company generated $261.8 million in operating cash flow during Q3, factoring in typical seasonal working capital investments, and repurchased 211,873 shares at an average price of $287.71 per share, totaling $60.9 million [9] Outlook - Reliance anticipates stable demand across diverse end markets in Q4, with projected tons sold increasing by 3.5% to 5.5% year-over-year, but declining by 5% to 7% sequentially due to seasonal trends [11] - The average selling price per ton is expected to remain relatively unchanged from Q3 2025, with a forecast for adjusted earnings per share in the range of $2.65 to $2.85 for Q4, including an estimated LIFO expense of $25 million [12] Stock Performance - Reliance's shares have decreased by 3.5% over the past year, contrasting with an 11.7% rise in the industry [13]