secwatch.observer — SEC 8-K summary
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Issuer:     RELIANCE, INC. (RS)
CIK:        0000861884
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001171843-24-004125
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance Q2 EPS $4.67 on $3.64B sales; tons sold +4% QoQ but pricing pressure persists
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861884/000117184324004125/0001171843-24-004125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861884/000117184324004125/f8k_072524.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-004125

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