Reliance Steel & Aluminum Co (RS) Stock

RS experienced increased shipments despite facing challenges from lower metal prices in the third quarter.

Reliance, Inc. (NYSE:RS) will hold its Q3 2024 Earnings Conference Call on October 24, 2024, at 11:00 AM ET. The call will feature company representatives, including Kimberly Orlando from Investor Relations and CEO Karla Lewis. Currently, all attendees are in listen-only mode.

Reliance, Inc. (NYSE: RS) announced its financial results for the third quarter ending September 30, 2024, reporting net sales of $3.42 billion, with a 7.1% increase in tons sold compared to Q3 2023. The company achieved a gross profit margin of 29.4% and an earnings per share (EPS) of $3.61, with a non-GAAP EPS of $3.64. Additionally, cash flow from operations was $463.9 million, and share repurchases of $432.0 million reduced outstanding shares by 3%.

Reliance (RS) lacks the right mix of the two important factors that could lead to a strong earnings report in its next announcement. Be ready for the main expectations.

On October 2, 2024, Reliance, Inc. (NYSE: RS) announced that James K. Kamsickas, 57, has been appointed as an independent director. His term started on October 1, 2024, and will last until the Company's Annual Meeting of Stockholders in 2025. With this new appointment, Reliance's Board will now have nine members, with eight being independent.

RS thinks that this updated credit agreement improves its already solid financial situation.

Reliance's (RS) second-quarter revenues beat estimates on increased volumes.

Reliance (RS) came out with quarterly earnings of $4.65 per share, missing the Zacks Consensus Estimate of $4.73 per share. This compares to earnings of $6.49 per share a year ago.

Reliance (RS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.