Reliance Steel reports record annual sales of $17.03B; Q4 EPS $5.88; dividend raised 14.3%

RELIANCE, INC.

2022-FY EPS reported $29.92 revenue$17,025,000,000

Annual net sales $17.03B (+20.8% YoY); record diluted EPS $29.92 ($30.03 non-GAAP); record pretax income $2.43B.
Q4 net sales $3,610.8M (-9.5% YoY, -15% QoQ); Q4 diluted EPS $5.88 ($5.87 non-GAAP); tons sold down 8.2% QoQ.
Record cash from operations $2.12B for 2022; $808.7M in Q4; $1.17B cash; $1.66B debt at year-end.
Board raised quarterly dividend 14.3% to $1.00/share (annual $4.00); share repurchases $630.3M in 2022.
Guidance: Q1 2023 non-GAAP diluted EPS $5.40-$5.60; tons sold expected up 11%-13% QoQ; pricing down 3%-5%.

item 2.02 item 5.02 item 9.01

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Departed

John G. Figueroa

director

RS · RELIANCE, INC.

Filed: February 16, 2023, 6:59 PM ET

On February 14, 2023, John G. Figueroa informed the Company's Board of Directors (the “Board”) that he has decided to retire from service on the Board and will not stand for reelection to the Board at the 2023 Annual Meeting of Stockholders (the “Annual Meeting”).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RELIANCE, INC. reported the full year ended December 31, 2022 results: revenue $17.03 billion, net income $1,840.1 million, EPS $29.92.

Period: the full year ended December 31, 2022
Revenue: $17.03 billion
Net income: $1,840.1 million
EPS: $29.92
Result: reported results

Exact text from the filing

Reliance Steel & Aluminum Co. Reports Fourth Quarter and Full Year 2022 Financial Results - Record annual net sales of $17.03 billion increased 20.8% - Record annual pretax income of $2.43 billion and pretax income margin of 14.3% - Record annual EPS of $29.92; non-GAAP EPS of $30.03 - Record quarterly and annual cash flow from operations of $808.7 million and $2.12 billion

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Executive change SEC 8-K Item 5.02 confidence 0.95

John G. Figueroa departed as director at RELIANCE, INC..

Action: retire
Role: director

Exact text from the filing

On February 14, 2023, John G. Figueroa informed the Company's Board of Directors (the “Board”) that he has decided to retire from service on the Board and will not stand for reelection to the Board at the 2023 Annual Meeting of Stockholders (the “Annual Meeting”).

View on SEC.gov

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RELIANCE, INC. filing history →

Source: SEC EDGAR

accession 0001171843-23-001001

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