Welcome to our dedicated page for Reliance news (Ticker: RS), a resource for investors and traders seeking the latest updates and insights on Reliance stock.
Overview of Reliance Inc (NYSE: RS)
Reliance Inc stands as a diversified metal solutions provider and the largest metals service center in North America. With an extensive network spanning more than 300 service locations across numerous states and multiple countries, the company provides comprehensive, value-added metals processing services and an expansive distribution of metal products. Its portfolio includes a full range of metal types such as galvanized, hot-rolled and cold-finished steel, stainless steel, aluminum, brass, copper, titanium and specialty alloys, meeting the needs of a wide variety of industries.
Core Business and Operations
The company specializes in small order processing with a quick turnaround that is critical to sectors ranging from non-residential construction and manufacturing to aerospace and automotive. Its integrated business model combines metal distribution with precise, value-added processing services. By leveraging modern automated material handling and precision cutting equipment, Reliance Inc enhances the quality and speed of its services, ensuring that a vast customer base receives tailored metal solutions.
Market Position and Competitive Landscape
Reliance Inc is strategically positioned within the metals industry due to its broad geographic reach and diverse product offerings. The vast network of service centers enables the company to effectively serve more than 125,000 customers across various end markets. This multi-faceted approach allows it to compete robustly against both traditional metal distributors and specialized service centers, as it combines scale with specialized processing capabilities. The company’s longstanding history and consistent performance underpin its reputation for reliability and operational efficiency.
Value-Added Processing Capabilities
One of the company’s key differentiators is its emphasis on value-added processing. Through investments in modern processing technologies, Reliance Inc offers services that include precision cutting, automated handling, and specialized finishing processes. These capabilities not only enhance the aesthetic and functional qualities of metal products but also cater to the specific requirements of industries such as industrial machinery, data centers, and energy infrastructure.
Diversified End Markets
Reliance Inc serves a broad spectrum of industries. Its services are essential to sectors such as construction, where stringent material specifications require precise metal processing; aerospace, where performance and quality are paramount; as well as automotive markets which value quick and reliable supply chains. This diversity in end markets contributes to its resilience and underpins its business model by balancing demand across cyclical economic conditions.
Expertise and Operational Excellence
The company emphasizes operational excellence underpinned by rigorous quality control and deep industry expertise. Its emphasis on small order fulfillment ensures that it can adapt to the individual needs of each customer, while its advanced processing techniques position it as a trusted partner in delivering high-performance metal solutions. This dual focus on distribution and processing enables Reliance Inc to offer a complete package of metal solutions tailored to modern industrial needs.
Commitment to Quality and Customer Service
Reliance Inc has built its credibility over decades by maintaining a steadfast focus on customer service and quality. The company’s strategies are built on long-term relationships with customers that span across multiple sectors and geographic regions. Its flexible, customer-centric approach not only meets but often exceeds the industry standards for quality and delivery timelines.
Summary
In summary, Reliance Inc is a pillar in the metals industry that combines distribution, tailored processing capabilities, and a vast network of service centers to serve a diversified range of markets. Its commitment to operational excellence, advanced processing technologies, and broad industry coverage underpins its status as a comprehensive metal solutions provider. The company continues to support its reputation for reliability, making it an essential component of the North American metals landscape.
Reliance (NYSE:RS) has scheduled its first quarter 2025 financial results announcement for Wednesday, April 23, 2025, after market close. The results will cover the period ended March 31, 2025.
Management will host a conference call on Thursday, April 24, 2025, at 11:00 a.m. Eastern Time. The call will be accessible via phone and webcast through the company's website. For those unable to attend live, a replay will be available from 2:00 p.m. Eastern Time until May 8, 2025, with both dial-in and webcast options. The webcast recording will remain available on Reliance's website for 90 days.
Reliance (NYSE: RS) reported strong financial results for Q4 and full year 2024. The company achieved its third-highest annual cash flow from operations at $1.43 billion and completed a record $1.09 billion in stock buybacks, reducing outstanding shares by 6%.
Annual highlights include net sales of $13.84 billion with tons sold up 4.0% (same-store tons sold up 1.0%), gross profit margin of 29.7%, and EPS of $15.56 (non-GAAP EPS of $15.92). The company completed four acquisitions adding $286.2 million to 2024 net sales.
For Q4 2024, tons sold decreased 5.1% compared to Q3, while average selling price per ton fell 3.4%. The company increased its quarterly dividend by 9.1% to $1.20 per share. Looking ahead, Reliance expects Q1 2025 tons sold to increase 6.0% to 8.0% compared to Q4 2024, with non-GAAP earnings projected at $3.30 to $3.50 per diluted share.
Reliance (NYSE: RS) has announced its management team's participation in two major upcoming investor conferences. Karla Lewis, President and CEO, will present at the BMO 2025 Global Metals, Mining & Critical Minerals Conference on February 26, 2025, at 8:00 a.m. ET in Hollywood, Florida.
Additionally, Lewis and Stephen Koch, Executive Vice President and COO, will present at the J.P. Morgan 2025 Industrials Conference on March 12, 2025, at 1:40 p.m. ET in New York. Both presentations will be available via live webcast on the Investors section of Reliance's website at investor.reliance.com, with replays accessible for 90 days following the events.
Reliance (NYSE:RS) has scheduled its fourth quarter and full year 2024 financial results announcement for Wednesday, February 19, 2025, after market close. The company will host a conference call to discuss the results on Thursday, February 20, 2025, at 11:00 a.m. Eastern Time.
The call will be accessible via phone with dedicated U.S./Canada and International dial-in numbers, using conference ID 13751162. A live webcast will be available on the Investors section of reliance.com. For those unable to attend live, a replay will be available until March 6, 2025, and the webcast recording will remain on the company's website for 90 days.
Reliance (NYSE: RS) announced its participation in the Baird 2024 Global Industrial Conference on November 13, 2024, in Chicago. Key executives including CEO Karla Lewis, CFO Arthur Ajemyan, and COO Stephen Koch will represent the company. The presentation is scheduled for 4:40 p.m. CT and will be available via live webcast on the company's investor relations website, with a replay accessible for 90 days afterward.
Reliance (NYSE: RS) reported Q3 2024 financial results with net sales of $3.42 billion, down 5.6% year-over-year, while tons sold increased 7.1%. The company achieved a gross profit margin of 29.4% and EPS of $3.61 ($3.64 non-GAAP). Cash flow from operations was $463.9 million. Reliance completed strategic initiatives including $432.0 million in share repurchases, reducing outstanding shares by 3%, amended its $1.5 billion credit agreement, and acquired FerrouSouth toll processing assets. The company expects Q4 2024 tons sold to decrease 6-8% sequentially due to seasonal trends and market uncertainty, with non-GAAP EPS guidance of $2.65-$2.85.
Reliance, Inc. (NYSE:RS) has announced it will report its third quarter 2024 financial results on Thursday, October 24, 2024, at 6:50 a.m. Eastern Time. The company will host a conference call on the same day at 11:00 a.m. Eastern Time. The call will be broadcast live over the Internet on the Investors section of Reliance's website at reliance.com.
Conference call details include:
- Date: Thursday, October 24, 2024
- Time: 8:00 a.m. Pacific Time / 10:00 a.m. Central Time / 11:00 a.m. Eastern Time
- Dial-in: (877) 407-0792 (U.S. and Canada) / (201) 689-8263 (International)
- Conference ID: 13749249
A replay of the call will be available from 2:00 p.m. Eastern Time on October 24 until 11:59 p.m. Eastern Time on November 7, 2024. The webcast will remain on Reliance's website for 90 days.
Reliance (NYSE: RS) has appointed James K. Kamsickas as an independent director, effective October 1, 2024. Kamsickas, 57, brings strategic leadership and industrial operating expertise to the board. His term will expire at the 2025 Annual Meeting of Stockholders. With this addition, Reliance's Board now comprises nine members, eight of whom are independent.
In a planned succession move, Douglas W. Stotlar will become the new independent, non-executive Chairman of the Board effective January 1, 2025, replacing Mark Kaminski. Kaminski, who has served as Chairman since July 2016, will continue as a board member.
Kamsickas is currently the chairman and CEO of Dana Incorporated (NYSE: DAN), a global leader in propulsion and energy-management solutions. He previously held leadership positions at International Automotive Components and Lear
Reliance (NYSE: RS) has secured an amended and restated $1.5 billion five-year unsecured revolving credit facility, effective September 10, 2024. The company plans to use the funds for general corporate purposes, growth, and stockholder return activities. CEO Karla Lewis highlighted that Reliance's improved financial condition and upgraded credit ratings since 2020 have led to more favorable pricing and fewer restrictive covenants. The new facility is expected to strengthen Reliance's liquidity position and enhance its capacity to pursue capital allocation priorities. Bank of America N.A. serves as the Administrative Agent, with JPMorgan Chase and Wells Fargo as Co-Syndication Agents, and PNC Bank and Toronto-Dominion Bank as Co-Documentation Agents.
Reliance (NYSE: RS) is set to commemorate its 30th anniversary as a public company by ringing the closing bell at the New York Stock Exchange on September 19, 2024. CEO Karla Lewis will lead the ceremony, which will be live-streamed at 3:55 p.m. ET. Since its 1994 IPO at $14.50 per share, Reliance has grown from $450 million in annual sales to over $14.8 billion in 2023, becoming North America's largest metals service center company.
The company's stock closed at $272.22 on September 11, 2024, yielding a total compound annual growth rate of approximately 17.1%, outperforming the S&P 500. Reliance attributes its success to its dedicated team, commitment to customer value, employee safety, and strong stockholder returns. As it celebrates 85 years in business, the company remains focused on executing and improving its unique and resilient business model.
FAQ
What is the current stock price of Reliance (RS)?
What is the market cap of Reliance (RS)?
What is the core business of Reliance Inc?
How does Reliance Inc differentiate itself in the metals industry?
What types of metal products does Reliance Inc distribute?
Which industries are served by Reliance Inc?
How does the company add value to its metal products?
What is the geographic reach of Reliance Inc?
How does reliability and speed factor into their service model?
Why is Reliance Inc considered an important player in the metals market?
