Reliance Steel & Aluminum ( (RS) ) has released its Q4 earnings. Here is a breakdown of the information Reliance Steel & Aluminum presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Reliance Steel & Aluminum Co. is a leading global diversified metal solutions provider, operating as the largest metals service center company in North America with a focus on value-added metals processing services. In its latest financial report, Reliance Steel & Aluminum announced substantial achievements for the year 2024, including their third highest annual cash flow from operations at $1.43 billion and a record stock repurchase of $1.09 billion, reducing outstanding shares by 6%. The company reported annual net sales of $13.84 billion with a notable 4.0% increase in tons sold. Despite a challenging market environment, Reliance maintained a strong annual gross profit margin of 29.7% and an annual EPS of $15.56. The company also completed four acquisitions and increased its quarterly dividend by 9.1% to $1.20 per share. Key financial metrics reveal a decline in fourth quarter net sales to $3.13 billion, a decrease from $3.42 billion in the previous quarter, and a drop in gross profit to $886.1 million. However, Reliance’s strategic focus on value-added processing and disciplined pricing allowed for a steady gross profit margin, excluding LIFO adjustments. The company successfully increased its tons sold by 4% for the year, outperforming industry trends. Moving forward, Reliance Steel & Aluminum remains cautiously optimistic, with expectations of modest demand improvement across its end markets in the first quarter of 2025. The company anticipates stable pricing and an enhanced FIFO gross profit margin, aiming for non-GAAP earnings per diluted share between $3.30 and $3.50.
