earnings
confidence high
sentiment neutral
materiality 0.75
Reliance Steel Q3 net sales $4.25B (+10.4% YoY), EPS $6.45; guides Q4 non-GAAP EPS $4.30-$4.50
RELIANCE, INC.
2022-Q3 EPS reported
$23.98
revenue$13,414,200,000
- Record Q3 net sales of $4.247B, up 10.4% YoY; diluted EPS $6.45, non-GAAP $6.48.
- Record quarterly cash from operations $635.7M; repurchased ~1.9M shares for $336.7M.
- CEO Jim Hoffman to step down Dec 31, 2022; Karla Lewis appointed CEO effective Jan 1, 2023.
- Q4 2022 guidance: tons sold down 6.5%-8.5% sequentially, average selling price down 6%-8%.
- Q4 2022 non-GAAP EPS estimated $4.30-$4.50; dividend declared $0.875/share payable Dec 2.