Reliance, Inc. (RS) posted profits of $105.3 million or $1.93 per share in the fourth quarter of 2024, down from $272.7 million or $4.70 per share in the year-ago quarter. Barring one-time items, RS recorded earnings of $2.22 per share, down from $4.73 a year ago. It lagged the Zacks Consensus Estimate of $2.74.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company recorded net sales of $3,126.6 million, down 6.3% year over year. The top line beat the Zacks Consensus Estimate of ...

Not for distribution to U.S. Newswire Services or for dissemination in the United States. TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- (TSX: RS, RS.PR.A) Real Estate Split Corp. (the “Company”) is pleased to announce it has renewed its at-the-market equity program (“ATM Program”) that allows the Company to issue Class A and Preferred Shares (the “Class A Shares” and “Preferred Shares”, respectively) to the public from time to time, at the Company’s discretion. Any Class A Shares or Preferred Shares sold in th ...

Financial Data and Key Metrics Changes - The company reported a non-GAAP earnings per share of $15.92 for 2024, reflecting strong execution of targeted growth strategies and effective working capital management [7][12] - The full-year gross profit margin was 29.7%, consistent with the company's sustainable annual range [6][27] - Cash flow from operations reached $1.43 billion, marking the third-highest annual cash flow in the company's history [7][34] Business Line Data and Key Metrics Changes - The company successfully acquired and integrated four businesses in 2024, contributing approximately $400 million in net sales on an annualized basis [6][10] - Fourth-quarter tons sold decreased by 5.1% compared to the third quarter but increased by 6.7% year-over-year, outperforming the service center industry's decline [15][16] - The average selling price per ton in Q4 was $1,170, a decline of 3.4% from the previous quarter [16] Market Data and Key Metrics Changes - Demand remained solid in key end markets such as non-residential construction, aerospace, and automotive, with market share gains across nearly all product groups [15][18] - The company noted that carbon steel product prices were under pressure, while aluminum and stainless steel prices began to stabilize [16][22] - The toll processing business saw a 5.8% increase in processed tons from Q4 2023, driven by healthy demand in the US and Mexico [22] Company Strategy and Development Direction - The company aims to maintain a balanced and disciplined approach to capital deployment, with a capital expenditure budget of $325 million for 2025 [9][12] - Priorities for 2025 include increasing volumes through smart, profitable growth, maintaining gross profit margins, and enhancing value-added processing capabilities [12][36] - The company is well-positioned to capitalize on potential improvements in end-market demand, particularly in infrastructure and data center projects [13][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2025, anticipating modest demand improvement across most end markets despite macroeconomic uncertainties [13][36] - The company expects tons sold to increase by 6% to 8% in Q1 2025 compared to Q4 2024, with pricing expected to remain flat [36][70] - Management highlighted the potential positive impact of tariffs on pricing, although they are currently not factoring this into their guidance [70] Other Important Information - The company maintained a net debt to EBITDA ratio of less than one, providing significant liquidity for capital allocation priorities [35] - The LIFO reserve on the balance sheet was $435 million, which can benefit future operating results [32] Q&A Session Summary Question: Demand activity and seasonal gains - Management noted steady demand through 2024, with growth in non-residential construction and optimism for Q1 2025 due to customer activity ahead of potential tariffs [40][42] Question: Focus on increasing volume - The company plans to achieve volume growth through both organic growth and acquisitions, with a significant portion of 2024's growth attributed to acquisitions [51][52] Question: Operating expenses and inflation - Management acknowledged wage inflation and the need to retain trained employees, while also looking for ways to reduce costs [60][64] Question: Clarification on first-quarter guidance - The company provided a conservative outlook for pricing, not factoring in potential tariff impacts at this time [70] Question: Exposure to cross-border material - The company primarily operates domestically, with limited exposure to materials from Canada or Mexico, and does not anticipate significant impacts from tariffs [75][76]

分组1 - Reliance reported quarterly earnings of $2.22 per share, missing the Zacks Consensus Estimate of $2.74 per share, and down from $4.73 per share a year ago, representing an earnings surprise of -18.98% [1] - The company posted revenues of $3.13 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.55%, but down from $3.34 billion year-over-year [2] - Reliance shares have increased approximately 11.2% since the beginning of the year, outperforming the S&P 500's gain of 4.2% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $3.51 on revenues of $3.47 billion, and for the current fiscal year, it is $16.98 on revenues of $14.05 billion [7] - The Zacks Industry Rank for Mining - Miscellaneous is currently in the bottom 34% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Financial Performance - Annual net sales reached $13.84 billion, with tons sold increasing by 4.0% year-over-year[1] - The company achieved a strong annual gross profit margin of 29.7%[1] - Non-GAAP EPS for the year was $15.92, reflecting a decrease of 29.6% compared to the previous year[3] - Operating income for the twelve months ended December 31, 2024, was $1,160.0 million, down 33.3% from $1,739.5 million in 2023[32] - Net income for the year was $875.2 million, a decrease from $1,335.9 million in the previous year, representing a decline of approximately 34.5%[36] - Basic earnings per share attributable to Reliance stockholders for the twelve months ended December 31, 2024, was $15.70, down from $22.90 in 2023[32] - Net income for the twelve months ended December 31, 2024, was $878.0 million, compared to $1,340.1 million for the same period in 2023[40] Shareholder Returns - Quarterly dividend increased by 9.1% to $1.20 per share, resulting in an annual dividend of $4.80[1] - A quarterly cash dividend of $1.20 per share was declared, representing a 9.1% increase, with a current annual rate of $4.80 per share[17] - Cash dividends and dividend equivalents paid were $249.7 million, slightly higher than $238.1 million in the previous year, indicating a modest increase of about 6.7%[36] Stock Repurchase and Acquisitions - The company repurchased a record $1.09 billion of common stock in 2024, reducing outstanding shares by 6%[1] - In Q4 2024, Reliance repurchased 525,264 shares at an average cost of $271.11 per share, totaling $142.4 million[18] - Four acquisitions were completed in 2024, contributing approximately $400 million in annualized net sales[9] Cash Flow and Liquidity - Cash flow from operations for the year was $1.43 billion, marking the third highest in the company's history[9] - Cash flow from operations for Q4 2024 was $473.3 million, with a total of $1.43 billion for the full year, marking the third highest annual result[16] - Cash and cash equivalents significantly declined to $318.1 million in 2024 from $1,080.2 million in 2023[33] - Total current assets decreased to $3,895.5 million as of December 31, 2024, from $4,771.8 million in 2023[34] - Total cash and cash equivalents at the end of the year were $318.1 million, significantly lower than $1,080.2 million at the beginning of the year, indicating a decrease of approximately 70.5%[36] Debt and Liabilities - The company maintained a net debt-to-total capital ratio of 10.2%[3] - Total liabilities increased slightly to $2,791.2 million in 2024 from $2,747.5 million in 2023[34] - Total debt as of December 31, 2024, was $1,151.1 million, a decrease from $1,276.4 million in the previous quarter[39] Market Performance and Expectations - Tons sold in Q4 2024 decreased by 5.1% compared to Q3 2024, better than management's expectations[6] - In Q4 2024, tons sold increased by 6.7% year-over-year, totaling 1,185.0 thousand tons, while decreasing by 5.1% sequentially[10] - For the full year 2024, total tons sold increased by 4.0% to 4,921.0 thousand tons, surpassing the industry-wide decline of 2.0%[10][29] - Reliance expects tons sold to increase by 6.0% to 8.0% in Q1 2025 compared to Q4 2024, and by 3.0% to 5.0% year-over-year[20] - Demand in non-residential construction, Reliance's largest end market, is expected to remain healthy in Q1 2025 due to new projects[11] Profitability Metrics - Non-GAAP net income attributable to Reliance was $895.5 million, a slight decrease from $1,334.7 million, representing a decline of approximately 32.9%[38] - The diluted earnings per share (EPS) for the year was $15.56, down from $22.64, indicating a decrease of about 31.5%[38] - The company incurred impairment and restructuring charges of $25.1 million for the year, compared to $2.2 million in the previous year, reflecting a significant increase[38] - Gross profit margin - LIFO for the three months ended December 31, 2024, was 28.3%, down from 29.4% in the previous quarter[39] - Non-GAAP gross profit margin - FIFO for the three months ended December 31, 2024, was 28.8%, compared to 27.9% in the previous quarter[39] Other Financial Metrics - Net cash provided by operating activities was $1,429.8 million, down from $1,671.3 million, reflecting a decrease of about 14.5%[36] - The company reported a net cash used in investing activities of $803.7 million, compared to $483.9 million in the previous year, marking an increase of about 66.1%[36] - Free cash flow for the three months ended December 31, 2024, was $362.4 million, compared to $351.1 million in the previous quarter[40] - EBITDA for the three months ended December 31, 2024, was $1,460.6 million, down from $1,640.8 million in the previous quarter[40] - Net debt-to-EBITDA ratio remained stable at 0.6x for the three months ended December 31, 2024[40]

- Third highest annual cash flow from operations of $1.43 billion - Repurchased record $1.09 billion of common stock in 2024; outstanding shares down 6% - Annual net sales of $13.84 billion with tons sold up 4.0% (same-store tons sold up 1.0%) - Strong annual gross profit margin of 29.7% - Annual EPS of $15.56; non-GAAP EPS of $15.92 - Completed four acquisitions in 2024 - Increased quarterly dividend 9.1% to $1.20 per share (annual: $4.80) - Stronger than anticipated fourth quarter operating results exclud ...

Reliance (RS) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 19. On ...

SCOTTSDALE, Ariz., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that it will report fourth quarter and full year 2024 financial results for the period ended December 31, 2024, on Wednesday, February 19, 2025, after the market closes. Reliance management will host a conference call on Thursday, February 20, 2025, 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. F ...

SCOTTSDALE, Ariz., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that it will report fourth quarter and full year 2024 financial results for the period ended December 31, 2024, on Wednesday, February 19, 2025, after the market closes. Reliance management will host a conference call on Thursday, February 20, 2025, 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. F ...

TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Real Estate Split Corp. (TSX: RS) (the “Fund”), is pleased to announce that a distribution for January 2025 will be payable to Class A shareholders of Real Estate Split Corp. as follows: Record DatePayable DateDistribution Per Equity ShareJanuary 31, 2025February 14, 2025$0.13 The equity shares trade on the Toronto Stock Exchange under the symbol RS. For further information, please visit our website at www.middlefield.com or contact our Sales and Marketing Depar ...