earnings
confidence high
sentiment positive
materiality 0.90
Reliance Steel posts record FY21 revenue $14.09B, EPS $21.97; Q4 EPS $6.64 beats; dividend up 27%
RELIANCE, INC.
2021-FY EPS reported
$21.97
revenue$14,093,300,000
- Record annual net sales of $14.09B (+59.9% YoY) and diluted EPS of $21.97 ($22.12 non-GAAP).
- Q4 net sales $3.99B (+86.9% YoY), diluted EPS $6.64 ($6.83 non-GAAP); tons sold fell 5.7% sequentially.
- Completed four Q4 acquisitions for $439M (Merfish, Nu-Tech, Admiral Metals, Rotax) with ~$1B combined annual sales.
- Board raised quarterly dividend 27.3% to $0.875/share; repurchased $168.5M in Q4, $323.5M in FY21.
- Q1 2022 guidance: non-GAAP EPS $7.05-$7.15, tons sold +5-7% seq, ASP -2-4% reflecting diverse product mix.