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Sep 30, 2023
Reliance Steel Q3 2023 Earnings Report
Reported solid financial performance in line with expectations, with tons sold up 1.1% year-over-year and non-GAAP EPS of $5.00.
Key Takeaways
Reliance Steel & Aluminum Co. reported net sales of $3.62 billion for Q3 2023, with non-GAAP EPS of $5.00. The company saw a 1.1% increase in tons sold compared to Q3 2022 and generated $466.0 million in cash flow from operations.
Net sales reached $3.62 billion, with tons sold increasing 1.1% from Q3 2022.
Gross profit margin was 29.7%.
EPS was $4.99, and non-GAAP EPS was $5.00.
Cash flow from operations amounted to $466.0 million.
Forward Guidance
Reliance anticipates underlying demand will overall remain relatively healthy in the fourth quarter of 2023. The Company expects tons sold growth in the range of 3.5% to 5.5% compared to the fourth quarter of 2022, and, consistent with seasonal trends, a sequential decline of 4% to 6%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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