Katja Jancic

Martin Englert

Michael Harris

Philip Gibbs

Alexander Hacking

Alex Hacking

John Tumazos

- Reliance Inc. is a metal service center company, founded in **1939**, with approximately **320 locations** primarily in North America, serving over **125,000 customers** and generating **$15 billion** in revenue.  **[861884_tx_380186_1]** **[861884_tx_380186_2]** 
- The company has increased its gross profit margins to a range of **29% to 31%** due to a focus on value-added processing, and it operates with a decentralized model emphasizing local relationships and quick delivery.  **[861884_tx_380186_2]** 
- Reliance has a strong capital allocation strategy, including **$1.8 billion** in CapEx over the last five years (with over half for growth), completing **76 acquisitions** since its 1994 IPO (including **four in 2024**), and repurchasing approximately **$3.2 billion** of shares in the last five years.  **[861884_tx_380186_2]** **[861884_tx_380186_7]** **[861884_tx_380186_8]** 
- Demand has been **steady** over the past several quarters, particularly in non-residential construction (e.g., data centers, infrastructure) and defense, and the company believes tariffs have been supportive of the industry by allowing for higher pricing levels.  **[861884_tx_380186_3]** **[861884_tx_380186_4]**

RELIANCE (RS)