NYSE$RS
Reliance Steel And Aluminum Co · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported strong operational and financial performance with strategic organic volume growth and effective expense management.
Reliance, Inc. reported strong financial results for Q4 2023, driven by strength in non-residential construction, aerospace, and general manufacturing end markets. The company's tons sold increased 4.9% year-over-year. They also completed the acquisition of Cooksey Iron & Metal Company and announced the pending acquisition of American Alloy Steel, Inc. Furthermore, the company rebranded to Reliance, Inc.
- Delivered strong operational and financial performance in a challenging environment.
- Tons sold in the fourth quarter of 2023 increased 4.9% year-over-year.
- Completed acquisition of Cooksey Iron & Metal Company on February 1, 2024.
- Announced pending acquisition of American Alloy Steel, Inc. on February 14, 2024.
Headline financials
Revenue & EPS history
Reliance Steel · Revenue · Quarterly
$3.34B
Forward guidance
Reliance expects healthy demand trends to continue into the first quarter of 2024. The Company estimates its tons sold will be up 9% to 11% compared to the fourth quarter of 2023, consistent with seasonal trends. Reliance expects its average selling price per ton sold for the first quarter of 2024 to be up 1.0% to 3.0% compared to the fourth quarter of 2023. Based on these expectations, the Company anticipates non-GAAP earnings per diluted share in the range of $5.30 to $5.50 for the first quarter of 2024.
Tailwinds
- Tons sold expected to be up 9% to 11% compared to the fourth quarter of 2023.
- Average selling price per ton sold expected to be up 1.0% to 3.0% compared to the fourth quarter of 2023.
- Anticipates non-GAAP earnings per diluted share in the range of $5.30 to $5.50 for the first quarter of 2024.
- Healthy demand trends expected to continue into the first quarter of 2024.
- Stabilizing pricing trends for many of its products.
Headwinds
- Continuing macroeconomic uncertainty.
- Geopolitical matters.
- Possibility that the expected benefits of acquisitions may not materialize as expected.
- Impacts of labor constraints and supply chain disruptions.
- Changes in domestic and worldwide political and economic conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+1.3%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+1.6%
Avg return
30 days after
64%
44 / 69 earnings
Positive
+17.0%
Q3 2019
Best reaction
-13.2%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.9% | +3.3% | +4.5% | |
| Q4 2025 | -2.7% | -5.7% | -13.6% | |
| Q3 2025 | -0.3% | +2.1% | +0.3% | |
| Q2 2025 | -1.5% | -1.4% | +0.2% | |
| Q1 2025 | +0.7% | +1.7% | +3.1% | |
| Q4 2024 | +3.1% | +0.8% | -5.5% | |
| Q3 2024 | +0.3% | +4.1% | +13.0% | |
| Q2 2024 | +3.5% | +2.8% | -4.0% | |
| Q1 2024 | -7.3% | -9.2% | -3.1% | |
| Q4 2023 | +10.8% | +7.8% | +8.8% | |
| Q3 2023 | +0.5% | +2.9% | +8.4% | |
| Q2 2023 | -0.3% | +0.9% | -5.1% | |
| Q1 2023 | +3.1% | +3.1% | -0.3% | |
| Q4 2022 | +6.2% | +3.6% | +3.0% | |
| Q3 2022 | +2.8% | +5.6% | +9.1% | |
| Q2 2022 | +1.9% | -0.1% | +4.2% | |
| Q1 2022 | +4.8% | +8.1% | +8.3% | |
| Q4 2021 | +4.0% | +3.8% | +13.9% | |
| Q3 2021 | +1.5% | +4.5% | +9.9% | |
| Q2 2021 | +0.3% | +1.6% | -0.6% | |
| Q1 2021 | +1.5% | +3.2% | +7.0% | |
| Q4 2020 | +4.7% | +8.1% | +18.6% | |
| Q3 2020 | -0.7% | -2.8% | +5.5% | |
| Q2 2020 | +6.2% | +3.9% | +7.2% | |
| Q1 2020 | +3.9% | +6.7% | +9.1% | |
| Q4 2019 | -5.3% | -8.3% | -36.5% | |
| Q3 2019 | +17.0% | +20.7% | +17.3% | |
| Q2 2019 | +10.6% | +8.2% | +2.7% | |
| Q1 2019 | +3.3% | +3.5% | -4.3% | |
| Q4 2018 | +3.1% | +4.2% | +0.7% | |
| Q3 2018 | -0.3% | +0.6% | +3.9% | |
| Q2 2018 | -1.3% | -1.9% | -4.4% | |
| Q1 2018 | +0.3% | -1.6% | +4.6% | |
| Q4 2017 | +6.8% | +4.7% | +2.4% | |
| Q3 2017 | +2.8% | +1.0% | -0.4% | |
| Q2 2017 | -2.9% | -2.7% | -4.1% | |
| Q1 2017 | -1.0% | -2.6% | -8.5% | |
| Q4 2016 | +1.0% | +2.2% | -3.9% | |
| Q3 2016 | -5.8% | -5.5% | +5.7% | |
| Q2 2016 | -7.2% | -6.1% | -11.3% | |
| Q1 2016 | -1.5% | — | — | |
| Q4 2015 | -1.7% | — | — | |
| Q3 2015 | +8.9% | — | — | |
| Q2 2015 | +4.5% | — | — | |
| Q1 2015 | +9.9% | — | — | |
| Q4 2014 | +6.5% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | -5.3% | — | — | |
| Q1 2014 | -2.8% | — | — | |
| Q4 2013 | -3.1% | — | — | |
| Q3 2013 | -2.5% | — | — | |
| Q2 2013 | +1.5% | — | — | |
| Q1 2013 | -4.5% | — | — | |
| Q4 2012 | +0.1% | — | — | |
| Q3 2012 | +5.4% | — | — | |
| Q2 2012 | +10.4% | — | — | |
| Q1 2012 | -0.6% | — | — | |
| Q4 2011 | -0.7% | — | — | |
| Q3 2011 | +1.1% | — | — | |
| Q2 2011 | -13.2% | — | — | |
| Q1 2010 | +3.0% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q4 2010 | +1.4% | — | — | |
| Q4 2008 | +1.4% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q3 2009 | +1.2% | — | — | |
| Q2 2010 | +1.0% | — | — | |
| Q4 2009 | +1.0% | — | — | |
| Q2 2009 | +1.0% | — | — |
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