Reliance Enters Into $400 Million Loan Facility to Refinance Debt

Core Insights - Reliance, Inc. has secured a $400 million unsecured term loan facility, effective August 14, 2025, maturing in August 2028, to refinance existing debt [1][9] - The company's net debt-to-EBITDA ratio stands at 0.9x as of June 30, 2025, indicating a conservative debt structure [2][9] - Reliance aims to enhance financial flexibility to support organic growth, strategic acquisitions, and consistent returns to shareholders through dividends and share repurchases [3][9] Financial Performance - Reliance's stock has increased by 4.1% over the past year, compared to an 11.2% rise in the industry [5] - The company expects a 1% to 3% decrease in tons sold in Q3 2025 compared to Q2 2025, but a 3% to 5% increase compared to Q3 2024 [6] - Average selling price per ton is projected to fluctuate between a 1% decline and a 1% increase from the previous quarter, with adjusted earnings per share forecasted between $3.60 and $3.80 for Q3 2025 [7] Market Outlook - Overall demand is expected to remain steady in Q3 2025, influenced by seasonal trends and uncertainties in domestic and global trade policies [6] - The company is committed to maintaining a balanced capital deployment approach while investing in high-return opportunities [3]