SCOTTSDALE, Ariz., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE: RS) announced that Karla Lewis, President and Chief Executive Officer, will ring the closing bell at the New York Stock Exchange (“NYSE”) on Thursday, September 19, 2024, to commemorate the Company’s 30th anniversary as a listed company. Reliance corporate officers will also participate in the ceremony. Live coverage of the event will begin on Thursday, September 19, 2024, at 3:55 p.m. ET and will be available for streaming at https ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-13122 Reliance, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 95-1142616 (I.R.S. Employer Identification No.) (Mark One) ☒ QU ...

Reliance, Inc. (RS) posted profits of $267.8 million or $4.67 per share in the second quarter of 2024, down from $385.1 million or $6.49 per share in the year-ago quarter.Barring one-time items, the company recorded earnings of $4.65 per share. It lagged the Zacks Consensus Estimate of $4.73.The company recorded net sales of $3,643.3 million, down around 6.1% year over year. The top line beat the Zacks Consensus Estimate of $3,603.9 million. Volumes and PricingReliance reported a 4.7% year-over-year increas ...

Reliance, Inc. (NYSE:RS) Q2 2024 Earnings Conference Call July 25, 2024 11:00 AM ET Company Participants Kim Orlando - ADDO Investor Relations Karla Lewis - President and Chief Executive Officer Steve Koch - Executive Vice President and Chief Operating Officer Arthur Ajemyan - Senior Vice President and Chief Financial Officer Conference Call Participants Martin Englert - Seaport Research Partners Philip Gibbs - KeyBanc Capital Markets Timna Tanners - Wolfe Research Katja Jancic - BMO Capital Markets Lawson ...

Company Performance - Reliance reported quarterly earnings of $4.65 per share, missing the Zacks Consensus Estimate of $4.73 per share, and down from $6.49 per share a year ago, representing an earnings surprise of -1.69% [1] - The company posted revenues of $3.64 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.10%, but down from $3.88 billion year-over-year [1] - Over the last four quarters, Reliance has surpassed consensus EPS estimates just once and topped consensus revenue estimates three times [1] Stock Performance and Outlook - Reliance shares have increased by approximately 5.1% since the beginning of the year, compared to the S&P 500's gain of 13.8% [2] - The company's earnings outlook is crucial for investors, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [3] - The current consensus EPS estimate for the coming quarter is $4.54 on revenues of $3.42 billion, and for the current fiscal year, it is $18.63 on revenues of $13.98 billion [4] Industry Context - The Mining - Miscellaneous industry, to which Reliance belongs, is currently in the bottom 27% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Taseko Mines, another company in the same industry, is expected to report a quarterly loss of $0.03 per share, reflecting a year-over-year change of -200%, with revenues expected to be $88.01 million, up 5.6% from the previous year [5]

EXHIBIT 99.1 Reliance, Inc. Reports Second Quarter 2024 Financial Results - Net sales of $3.64 billion with tons sold up 4.0% from Q1 2024 - Gross profit margin of 29.8% - EPS of $4.67, non-GAAP EPS of $4.65 - Cash flow from operations of $366.3 million - $519.3 million of share repurchases in Q2 and $165.4 million in July - Completed acquisition of American Alloy Steel, Inc. on April 1, 2024 - Completed acquisition of Mid-West Materials, Inc. on April 1, 2024 | | | | | | | | | | Year | | | Year | | --- | - ...

Company Overview - Reliance is expected to report a year-over-year decline in earnings due to lower revenues, with the earnings report anticipated on July 25, 2024 [1] - The consensus EPS estimate for Reliance is $5.51, with a projected earnings decline of -27.1% year-over-year [2][5] - The company has a Zacks Rank of 3, indicating a hold position, which complicates predictions of an earnings beat [5][6] Earnings Estimates and Trends - The Most Accurate Estimate for Reliance is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.42%, suggesting bearish sentiment among analysts [5] - Over the last 30 days, the consensus EPS estimate has remained unchanged, reflecting a stable outlook from covering analysts [2] Historical Performance - In the last reported quarter, Reliance had an earnings surprise of -3.81%, with actual earnings of $5.30 per share compared to the expected $5.51 [7] - Reliance has only beaten consensus EPS estimates once in the last four quarters, indicating a challenging earnings history [7] Industry Context - In the Zacks Mining - Miscellaneous industry, Teck Resources Ltd is expected to report earnings of $0.46 per share, reflecting a year-over-year decline of -49.5% [9] - Teck Resources has an Earnings ESP of 13.22%, suggesting a higher likelihood of beating the consensus EPS estimate, despite a recent downward revision of 12.7% in the consensus EPS estimate [9]

Reliance, Inc. (RS) signed an agreement to acquire certain assets of FerrouSouth, a division of Ferragon Corporation based in Iuka, MS. FerrouSouth is renowned for its high-quality flat-rolled steel processing and provides logistics services, including shipping and warehousing, to the rapidly expanding Southeastern market.Post-acquisition, FerrouSouth operations will function as a division of Feralloy Corporation, a wholly-owned subsidiary of Reliance. For the 12 months ending Dec 31, 2023, FerrouSouth’s to ...

SCOTTSDALE, Ariz., July 15, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced that it has reached an agreement to purchase certain assets of the FerrouSouth division of Ferragon Corporation ("FerrouSouth"), a premier toll processing operation headquartered in Iuka, Mississippi. In addition to offering high quality flat-rolled steel processing, FerrouSouth provides logistics services including shipping and warehousing solutions within the rapidly growing Southeastern market. The FerrouSouth operati ...

SCOTTSDALE, Ariz., July 11, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that it will report second quarter 2024 financial results for the period ended June 30, 2024, on Thursday, July 25, 2024, at 6:50 a.m. Eastern Time. Reliance management will host a conference call that same day 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. Second Quarter 2024 Conference Call Det ...