Reliance, Inc. (RS) posted profits of $302.9 million or $5.23 per share in first-quarter 2024, down from $383.1 million or $6.43 per share in the year-ago quarter.Barring one-time items, the company recorded earnings of $5.30 per share. It lagged the Zacks Consensus Estimate of $5.51.The company recorded net sales of $3,644.8 million, down around 8.1% year over year. The top line lagged the Zacks Consensus Estimate of $3,733.1 million. Volumes and PricingReliance reported a 1.7% year-over-year decrease in s ...

Reliance, Inc. (NYSE:RS) Q1 2024 Earnings Conference Call April 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 Phil Gibbs – KeyBanc Capital Markets Martin Englert – Seaport Search Partners Timna Tanners – Wolfe Research Operator Greetings, and welcome to Reliance, ...

Reliance (RS) came out with quarterly earnings of $5.30 per share, missing the Zacks Consensus Estimate of $5.51 per share. This compares to earnings of $6.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.81%. A quarter ago, it was expected that this metals service-center company would post earnings of $3.86 per share when it actually produced earnings of $4.73, delivering a surprise of 22.54%.Over the last four quarters, ...

– Completed acquisition of Cooksey Iron & Metal Company on February 1, 2024 – Completed acquisition of American Alloy Steel, Inc. on April 1, 2024 – Completed acquisition of Mid-West Materials, Inc. on April 1, 2024 EXHIBIT 99.1 Reliance, Inc. Reports First Quarter 2024 Financial Results – Net sales of $3.64 billion with tons sold up 10.3% from fourth quarter of 2023 – Gross profit margin of 31.0% – EPS of $5.23, non-GAAP EPS of $5.30 SCOTTSDALE, Ariz., April 25, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYS ...

SCOTTSDALE, Ariz., April 11, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that it will report first quarter 2024 financial results for the period ended March 31, 2024, on Thursday, April 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. First Quarter 2024 Conference Call Det ...

SCOTTSDALE, Ariz., April 11, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that it will report first quarter 2024 financial results for the period ended March 31, 2024, on Thursday, April 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. First Quarter 2024 Conference Call Det ...

Reliance, Inc.'s (RS) shares touched a new 52-week high of $342.20 on Apr 8, before closing the session at $337.08.RS has a market capitalization of roughly $19.4 billion and carries a Zacks Rank #3 (Hold) at present.The company’s shares have rallied 37.1% over the past year, outperforming the 4.4% rise of its industry. Image Source: Zacks Investment Research What’s Driving RS?Reliance is benefiting from strong underlying demand in its major markets. It anticipates continued healthy demand trends in the fir ...

Reliance, Inc. (RS) has successfully acquired all outstanding equity interests of Mid-West Materials, Inc., a leading flat-rolled steel service center primarily catering to North American OEMs. Established in 1952 and headquartered in Perry, OH, MidWest Materials offers a diverse range of steel products, including hot-rolled, high-strength hot-rolled, coated and cold-rolled varieties. These products serve various industries, such as trailer manufacturing, agriculture, metal fabrication and building products ...

SCOTTSDALE, Ariz., April 03, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced that effective April 1, 2024, it has completed its acquisition of all of the outstanding equity interests and related real estate assets of American Alloy Steel, Inc. ("American Alloy"). Headquartered in Houston, Texas and founded in 1971, American Alloy is a leading distributor of specialty carbon and alloy steel plate and round bar, including pressure vessel quality (PVQ) material. The acquisition of American Alloy in ...

SCOTTSDALE, Ariz., April 02, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced that it has acquired all the outstanding equity interests of Mid-West Materials, Inc. ("MidWest Materials"), a premier flat-rolled steel service center primarily servicing North American OEMs. Headquartered in Perry, OH and founded in 1952, MidWest Materials provides a wide breadth of steel products including hot-rolled, high strength hot-rolled, coated, and cold-rolled products that are sold into the trailer manufactur ...