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 ...

Reliance, Inc. (RS) is gaining from demand strength in its major end-use markets, a diversified product base and strategic acquisitions amid pricing headwinds.Shares of Reliance, a Zacks Rank #3 (Hold) stock, have gained 10.2% in the past year compared with a 4.5% rise of the industry. Image Source: Zacks Investment Research Strong Demand, Acquisitions Drive RSReliance is benefiting from strong underlying demand in its major markets. RS saw an uptick in demand for non-residential construction in the first q ...

Reliance (RS) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Ind ...

Group 1 - Reliance is currently ranked 2 (Buy) in the Zacks Rank, indicating a strong potential for outperforming the market in the next one to three months [1] - The Zacks Consensus Estimate for Reliance's full-year earnings has increased by 1.8% over the past quarter, reflecting improved analyst sentiment [2] - Reliance has returned 9% year-to-date, significantly outperforming the Basic Materials group, which has seen an average loss of 0.4% [2] Group 2 - Reliance is part of the Mining - Miscellaneous industry, which includes 60 companies and currently ranks 189 in the Zacks Industry Rank, with an average loss of 6.1% this year [3] - SilverCrest Metals Inc. is another stock in the Basic Materials sector that has outperformed, with a year-to-date increase of 30.8% and a Zacks Rank of 2 (Buy) [2][3] - Both Reliance and SilverCrest Metals Inc. are expected to continue their solid performance in the Basic Materials sector [3]

Reliance (RS) has been on a downward spiral lately with significant selling pressure. After declining 10% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is overs ...

Reliance, Inc.’s (RS) stock looks promising at the moment. It is gaining from demand strength in its major end-use markets, a diversified product base and strategic acquisitions.We are positive on the company’s prospects and believe that the time is right for you to add the stock to portfolio as it looks promising and is poised to carry the momentum ahead.Let’s delve deeper into the factors that make this Zacks Rank #1 (Strong Buy) stock an attractive choice for investors right now.An OutperformerRS has out ...

SCOTTSDALE, Ariz., May 07, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced today that its management team will participate in the following upcoming investor conferences: The BofA Securities 2024 Global Metals, Mining & Steel Conference on Tuesday, May 14, 2024 in Miami, Florida. Karla Lewis, President and Chief Executive Officer, and Arthur Ajemyan, Senior Vice President and Chief Financial Officer, are scheduled to present on Tuesday, May 14th at 5:30 p.m. ET and will participate in meetings w ...