earnings
confidence high
sentiment positive
materiality 0.85
Reliance Steel Q1 2022: record sales $4.49B, EPS $8.33, raises dividend 27.3%
RELIANCE, INC.
2022-Q1 EPS reported
$8.33
revenue$4,485,800,000
- Revenue $4.49B (+58% YoY, +12.5% QoQ); diluted EPS $8.33 (non-GAAP $8.42) - both quarterly records.
- Record gross profit $1.39B at 30.9% margin; operating cash flow $404.0M, a Q1 record.
- Dividend raised 27.3% to $0.875/share quarterly; $56.7M paid in Q1, 63 consecutive years.
- Q2 2022 non-GAAP EPS guidance $9.00–$9.10; tons sold flat to +2% QoQ, selling price flat to +2%.
- Capex budget increased to $455M from $350M to capture semiconductor and organic growth opportunities.