secwatch.observer — SEC 8-K summary
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Issuer:     RELIANCE, INC. (RS)
CIK:        0000861884
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0001171843-23-006431
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance Steel Q3 EPS $4.99 in line; Q4 guide $3.70-$3.90; buyback authorized $1.5B
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- Q3 net sales $3.62B, tons sold up 1.1% YoY; non-GAAP EPS $5.00 in line with guidance.
- Cash from operations $466M; repurchased $126.4M of stock in Q3.
- Board replenished share repurchase plan to $1.5B with no expiration; $294.8M remained under prior authorization.
- Q4 outlook: non-GAAP EPS $3.70-$3.90, tons sold down 4%-6% sequentially, avg selling price down 4%-6%.
- Director James Hoffman to retire from board at 2024 annual meeting; no disagreement cited.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861884/000117184323006431/0001171843-23-006431-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861884/000117184323006431/f8k_102523.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-006431

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