Reliance reports Q1 non-GAAP EPS $3.77, consensus $3.74

Reports Q1 revenue $3.48B, consensus $3.44B. “We delivered stronger than expected results in the first quarter due to our targeted focus on smart, profitable growth, once again demonstrating the resilience of our proven business model and ability of our teams to provide solutions to our customers in a backdrop of significant market uncertainty,” said Karla Lewis, CEO of Reliance (RS). “By maintaining our commitment to growth and profitability, we shipped record tons, well in excess of industry shipment trends, while increasing our gross profit margin that expanded 140 basis points quarter-over-quarter, which drove non-GAAP earnings per share well ahead of our expectations.”