Earnings summaries and quarterly performance for RELIANCE.
Executive leadership at RELIANCE.
Board of directors at RELIANCE.
Research analysts who have asked questions during RELIANCE earnings calls.
Katja Jancic
BMO Capital Markets
6 questions for RS
Also covers: AA, ARCH, ASTL +9 more
Martin Englert
S&P Global Commodity Insights
5 questions for RS
Also covers: CLF, GSM, NUE +2 more
Philip Gibbs
KeyBanc Capital Markets
5 questions for RS
Also covers: ATI, CLF, CMC +10 more
Michael Harris
Goldman Sachs
3 questions for RS
Also covers: CLF, CMC, NUE +1 more
Alex Hacking
Citigroup
2 questions for RS
Also covers: AA, ARCH, CLF +7 more
Bennett Moore
JPMorgan Chase & Co.
2 questions for RS
Also covers: AA, CRS, CSTM +3 more
Lawson Winder
Bank of America
2 questions for RS
Also covers: AA, AEM, CCJ +21 more
Mike Harris
Goldman Sachs
2 questions for RS
Also covers: CLF, CMC, NUE +1 more
Timna Tanners
Wolfe Research
2 questions for RS
Also covers: AA, AMRZ, ATI +19 more
John Tumazos
John Tumazos Very Independent Research
1 question for RS
Also covers: AA, AEM, ASM +13 more
Recent press releases and 8-K filings for RS.
Reliance, Inc. Discusses Business Strategy and Market Outlook at Goldman Sachs Conference
RS
M&A
New Projects/Investments
Dividends
- Reliance, Inc. (RS), the largest metal service center company in North America, reported $15 billion in sales and operates 320 locations, specializing in smaller order sizes and value-added processing.
- The company anticipates continued strong demand in key end markets including non-residential construction, data centers (with a 5-10 year runway), military/defense, aerospace, and semiconductor (expected 3-5 year growth after inventory correction).
- Growth strategies involve both acquisitions (76 since IPO) and organic investments, with $1.5 billion invested in capital expenditures over the last 6-7 years, primarily for value-added processing equipment.
- Management views the metal service center industry as ripe for continued consolidation and highlights automation, data mining, and AI as crucial for competitive advantage.
- Capital allocation priorities include profitable long-term growth, maintaining a quarterly dividend (paid for over 65 years without reduction), and opportunistic share repurchases.
Dec 3, 2025, 5:50 PM
Reliance, Inc. Discusses Market Outlook, Growth Strategies, and Capital Allocation at Goldman Sachs Conference
RS
New Projects/Investments
M&A
Dividends
- Reliance, Inc. is the largest metal service center company in North America, reporting $15 billion in sales and operating 320 locations, with a focus on value-added processing and next-day delivery for smaller orders.
- The company projects healthy demand in non-residential construction (driven by data centers with a 5-10 year runway), general manufacturing, and defense into 2026 and beyond, with long-term growth anticipated from aerospace, nuclear, and semiconductor markets.
- Reliance maintains competitive advantages through its decentralized structure, significant investments in value-added processing equipment (totaling $1.5 billion over the last 6-7 years), and ongoing capital expenditure in automation (over $300 million this year) and AI.
- The metal service center industry is considered ripe for continued consolidation, with Reliance holding only 17% market share despite completing 76 acquisitions since its 1994 IPO.
- Capital allocation priorities include profitable long-term growth through organic investments and acquisitions, alongside shareholder returns via a quarterly dividend paid for over 65 years and opportunistic share repurchases.
Dec 3, 2025, 5:50 PM
Reliance, Inc. Discusses Market Outlook, Growth Strategies, and Capital Allocation at Goldman Sachs Conference
RS
New Projects/Investments
M&A
Dividends
- Reliance, Inc. is the largest metal service center company in North America, generating approximately $15 billion in sales from 320 locations, specializing in value-added processing and rapid delivery of smaller metal orders.
- The company projects robust demand in non-residential construction (including data centers with a 5 to 10-year runway), general manufacturing, and aerospace, with multi-year growth opportunities identified in data centers, nuclear energy, semiconductors, and defense spending.
- Reliance's growth strategy combines organic investments, with approximately $1.5 billion in capital expenditures over the past six to seven years focused on value-added processing, and inorganic growth through 76 acquisitions since its 1994 IPO, operating in an industry deemed ripe for further consolidation.
- The company prioritizes profitable long-term growth and has a strong track record of shareholder returns, including a quarterly dividend paid for over 65 years (never reduced and typically increased annually) and opportunistic share repurchases.
Dec 3, 2025, 5:50 PM
Reliance Provides Business Update on Strategy, Growth, and Market Trends
RS
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Reliance maintains a diversified business model across products, end markets, and geographies, with 50% of orders involving value-added processing, contributing to a target gross profit margin of 29-31%.
- The company's "smart profitable growth" strategy has led to tons sold increasing by 6% through September 30, 2025, while the industry declined by 3%, indicating market share gains.
- Data centers are a significant growth driver, with management expecting "at least a few more years' worth of good solid growth" in this sector, alongside continued strength in infrastructure projects.
- Reliance completed four acquisitions in early 2024 and continues to seek opportunistic M&A, supported by a strong balance sheet, while also maintaining a 66-year history of quarterly dividends and share repurchases.
Nov 13, 2025, 3:05 PM
Reliance Management Discusses Strategy and Market Trends at Baird Conference
RS
New Projects/Investments
M&A
Revenue Acceleration/Inflection
- Reliance maintains a diversified business strategy across products, end markets, and geographies, with a focus on value-added processing, which now accounts for 50% of orders and has helped increase target gross profit margins to 29%-31%.
- The company is pursuing a "smart profitable growth" strategy, resulting in tons sold increasing by 6% through September 30, 2025, significantly outperforming the industry, which is down 3%.
- Reliance identifies data centers, infrastructure, and sustainable energy as strong end markets, with data center growth expected to continue for "at least a few more years". Weaker markets include Ag and HVAC.
- Reliance aims to pass through metal cost increases and tariffs with a markup to expand gross profit margins, though recent aluminum and stainless price increases have been passed incrementally due to underlying demand.
- The company has a long history of M&A with 76 acquisitions since 1994, but has made no acquisitions in 2025 so far after completing four in early 2024, and continues to seek opportunistic deals.
Nov 13, 2025, 3:05 PM
Reliance Steel & Aluminum Co. Discusses Market Share Gains, Data Center Growth, and M&A Strategy
RS
Revenue Acceleration/Inflection
New Projects/Investments
M&A
- Reliance Steel & Aluminum Co. (RS) has demonstrated strong market performance, with tons sold increasing by 6% through September 30, 2025, while the industry saw a 3% decline, indicating significant market share gains. The company consistently outperforms other metal service center companies in gross profit and EBITDA.
- The company's strategic focus on value-added processing has driven margin expansion, with 50% of orders currently undergoing processing, up from 40% previously, and a target gross profit margin range of 29%-31%. This strategy allows them to charge more and is less susceptible to metal price fluctuations.
- Data centers represent a significant and ongoing growth opportunity, with the company believing it is in the early stages of a multi-year cycle for this end market, supplying various components for construction, racking, cooling, and electrification.
- Reliance employs an opportunistic M&A strategy and prioritizes shareholder returns, having completed four acquisitions in early 2024 and none so far in 2025, while also maintaining a 66-year history of regular quarterly dividends and engaging in share repurchases.
Nov 13, 2025, 3:05 PM
Reliance, Inc. Reports Third Quarter 2025 Financial Results
RS
Earnings
Share Buyback
Dividends
- Reliance, Inc. reported net sales of $3.65 billion and diluted EPS of $3.59 for the third quarter ended September 30, 2025.
- The company achieved record third-quarter tons sold, which increased 6.2% year-over-year, outperforming the industry by approximately nine percentage points.
- A quarterly cash dividend of $1.20 per share was declared on October 10, 2025, and $60.9 million of common stock was repurchased during the third quarter of 2025.
- For the fourth quarter of 2025, Reliance anticipates non-GAAP earnings per diluted share in the range of $2.65 to $2.85.
Oct 22, 2025, 8:10 PM
Reliance Inc. Discusses Business Strategy, Capital Allocation, and Market Outlook at Jefferies Conference
RS
M&A
Dividends
Share Buyback
- 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.
- 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.
- 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.
- 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.
Sep 3, 2025, 8:44 PM
Quarterly earnings call transcripts for RELIANCE.
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