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 ...

Core Insights - Reliance, Inc. has completed the acquisition of American Alloy Steel, Inc. effective April 1, 2024, enhancing its processing capabilities and product portfolio [1][2] - American Alloy reported annual net sales of approximately $310 million for the year ending December 31, 2023 [2] Company Overview - Reliance, Inc. is a leading global diversified metal solutions provider and the largest metals service center company in North America, with over 315 locations across 40 states and 12 countries [3] - The company distributes over 100,000 metal products to more than 125,000 customers, focusing on small orders with quick turnaround and value-added processing services [3] - In 2023, Reliance's average order size was $3,210, with approximately 51% of orders including value-added processing and about 40% delivered within 24 hours [3]

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 ...

Reliance, Inc.’s (RS) shares have popped 23.8% over the past six months. The company has also outperformed its industry’s decline of 3.2% over the same time frame. It has also topped the S&P 500’s roughly 15.9% rise over the same period.Let’s dive into the factors behind this Zacks Rank #3 (Hold) stock’s price appreciation. Image Source: Zacks Investment Research Strong Demand, Acquisitions Drive RelianceReliance is gaining from strong underlying demand in its major markets. It anticipates continued healthy ...