secwatch.observer — SEC 8-K summary
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Issuer:     RELIANCE, INC. (RS)
CIK:        0000861884
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001171843-22-006785
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance Steel Q3 net sales $4.25B (+10.4% YoY), EPS $6.45; guides Q4 non-GAAP EPS $4.30-$4.50
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861884/000117184322006785/0001171843-22-006785-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861884/000117184322006785/f8k_102722.htm
  HTML page:      https://secwatch.observer/filing/0001171843-22-006785

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer