Reliance reports Q2 EPS $4.43, consensus $4.62

Reports Q2 revenue $3.66B, consensus $3.67B. “Our solid results once again demonstrate the resilience of our proven business model in a volatile environment,” said Karla Lewis, president and CEO of Reliance (RS). “Our management teams continue to excel in providing value to our customers and increasing market share, while effectively managing their businesses through uncertain markets. Our record second-quarter tons sold once again significantly outperformed the industry due to our unparalleled scale, access to domestic metal and breadth of processing capabilities. Importantly, we maintained a strong gross profit margin within our sustainable range of 29% to 31%, in line with our smart, profitable growth initiative, increasing our non-GAAP diluted earnings per share by 18% over the prior quarter.”