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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.
Reliance Steel
Reliance Steel
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%.