Reliance Steel Q1 EPS $6.43, beats expectations; dividend up 14.3% to $1.00/share; guides Q2 $6.40-$6.60

RELIANCE, INC.

2023-Q1 EPS reported $6.43 revenue$3,965,300,000

Net sales $3.97B, down 11.6% YoY but up 9.8% sequentially; tons sold up 17.7% QoQ.
Diluted EPS $6.43 (GAAP), non-GAAP $6.37; pretax income margin 12.8%.
Cash from ops $384.6M; redeemed $500M senior notes; net debt-to-capital 4.3%.
Dividend raised 14.3% to $1.00/share quarterly; Q2 dividend declared payable June 9.
Q2 guidance: non-GAAP EPS $6.40-$6.60; tons flat to down 2%; pricing flat to up 2%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

RELIANCE, INC. reported the first quarter ended March 31, 2023 results: revenue $3,965.3, net income $383.1, EPS $6.43.

Period: the first quarter ended March 31, 2023
Revenue: $3,965.3
Net income: $383.1
EPS: $6.43
Result: reported results

Exact text from the filing

except tons which are in thousands and per share amounts) Sequential Quarter Quarter-Over- Quarter Q1 2023 Q4 2022 % Change Q1 2022 % Change Income Statement Data: Net sales $ 3,965.3 $ 3,610.8 9.8% $ 4,485.8 (11.6%) Gross profit 1 $ 1,226.0 $ 1,129.8 8.5% $ 1,387.1 (11.6%) Gross profit margin 1 30.9% 31.3% (0.4%) 30.9% 0.0% Non-GAAP gross profit margin 1,2

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Source: SEC EDGAR

accession 0001171843-23-002609

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