earnings
confidence high
sentiment neutral
materiality 0.80
Reliance Q1 non-GAAP EPS $5.30; 3 acquisitions; dividend raised to $1.10
RELIANCE, INC.
2024-Q1 EPS reported
$5.23
revenue$3,644,800,000
- Non-GAAP EPS $5.30 vs $6.37 YoY; net sales $3.64B, down 8.1% YoY.
- Tons sold up 10.3% QoQ to 1.49M; avg selling price $2,442/ton, down 6.9% YoY.
- Completed Cooksey (Feb 1), American Alloy & Mid-West Materials (Apr 1) — ~$500M annual sales.
- Quarterly dividend increased 10% to $1.10, payable June 7 to holders of record May 24.
- Q2 guidance: tons sold +2.5%-4.5% QoQ, non-GAAP EPS $4.70-$4.90.