earnings
confidence high
sentiment negative
materiality 0.75
Reliance Q2 EPS $4.67 on $3.64B sales; tons sold +4% QoQ but pricing pressure persists
RELIANCE, INC.
2024-Q2 EPS reported
$9.90
revenue$7,288,100,000
- Net sales $3.64B flat QoQ; tons sold up 4.0% to 1.55M, same-store tons +0.9%.
- GAAP EPS $4.67, non-GAAP $4.65; gross profit margin 29.8% vs 31.0% Q1.
- Cash from operations $366.3M; repurchased $519.3M of shares in Q2 and $165.4M in July.
- Completed acquisitions of American Alloy (FY23 sales ~$310M) and Mid-West Materials ($87M) on April 1.
- Q3 guidance: tons sold down 2.5-4.5% QoQ, non-GAAP EPS $3.60-$3.80, with continued pricing pressure.