Click here for Family of Companies' Web Sites
Company Overview What's New Press Releases Investor Information Geographic Diversity Product Diversity Processing Capabilities Quote Inquiry Company Contacts Credit Application Site Search
What's New


RELIANCE STEEL & ALUMINUM CO. REPORTS 2012 FULL YEAR FINANCIAL RESULTS

On February 21, 2013, Reliance Steel & Aluminum Co. (NYSE:RS) reported its financial results for the full year ended December 31, 2012. Highlights include:
  • Sales were $8.44 billion, up 3.8% from $8.13 billion in 2011. Tons sold increased 5.4% from the prior year.
  • Net income was $403.5 million, up 17.4% from $343.8 million in 2011.
  • Earnings per diluted share were $5.33, up 16.4% from $4.58 in 2011.
  • A pre-tax LIFO credit, or income, of $64.1 million, is included in cost of sales for 2012 compared to a pre-tax LIFO charge, or expense, of $85.3 million for 2011.
  • Cash flow from operations was $601.9 million in 2012, up from $234.8 million in 2011.

As of December 31, 2012, total debt outstanding at quarter end was $1.21 billion, or a net debt-to-total capital ratio of 23.8%. The Company currently has about $1 billion available on its $1.5 billion credit facility. The Company is pleased with its overall financial position and strong cash flow in 2012 and believes it has sufficient liquidity and financial flexibility. For the full year, the Company generated $601.9 million in cash flow from operating activities.

RELIANCE STEEL & ALUMINUM CO. REPORTS 2012 FOURTH QUARTER FINANCIAL RESULTS

On February 21, 2013, Reliance Steel & Aluminum Co. (NYSE:RS) reported its financial results for the fourth quarter. Fourth Quarter 2012 Financial Highlights include:
  • Sales were $1.89 billion, down 7.1% from $2.03 billion in the fourth quarter of 2011 and down 8.1% from $2.06 billion in the third quarter of 2012. Tons sold were down 3.9% from the fourth quarter of 2011 and down 8.3% from the third quarter of 2012.
  • Net income was $80.4 million, up 18.4% from $67.9 million in the fourth quarter of 2011 and down 18.0% from $98.1 million in the third quarter of 2012.
  • Earnings per diluted share were $1.06, up 16.5% from $0.91 in the fourth quarter of 2011 and down 18.5% from $1.30 in the third quarter of 2012.
  • A pre-tax LIFO credit, or income, of $37.1 million, is included in cost of sales compared to a pre-tax LIFO charge, or expense, of $17.8 million for the fourth quarter of 2011 and a credit of $27.0 million for the third quarter of 2012.
  • Cash flow from operations was $333.1 million in the 2012 fourth quarter, up from $217.5 million in the 2011 fourth quarter.
  • A quarterly cash dividend of $0.30 per share was declared on February 19, 2013 for shareholders of record as of March 1, 2013. This represents a 20% increase.

“Our fourth quarter results reflect the impact of continued global economic uncertainty on our industry coupled with normal seasonal trends including fewer shipping days as a result of the holiday season and extended holiday-related closures by various customers. However, our average price per ton sold held steady on a sequential quarter basis in our fourth quarter, allowing us to improve our gross profit margin. Our LIFO credit in the 2012 fourth quarter boosted our margins, but more importantly, our local managers were able to improve our FIFO gross profit margins as demand declined,” said David H. Hannah, Chairman and CEO of Reliance.

RELIANCE STEEL & ALUMINUM CO. REPORTS 2012 THIRD QUARTER FINANCIAL RESULTS

On October 25, 2012, Reliance Steel & Aluminum Co. (NYSE:RS) reported its financial results for the third quarter and nine months ended September 30, 2012. Highlights include:
  • Sales were $2.06 billion, down 3.9% from $2.14 billion in the third quarter of 2011 and down 7.0% from $2.21 billion in the second quarter of 2012. Tons sold were up 2.0% from the third quarter of 2011 and down 3.5% from the second quarter of 2012.
  • Net income was $98.1 million, up 15.5% from $84.9 million in the third quarter of 2011 and down 9.8% from $108.8 million in the second quarter of 2012.
  • Earnings per diluted share were $1.30, up 15.0% from $1.13 in the third quarter of 2011 and down 9.7% from $1.44 in the second quarter of 2012.
  • The 2012 third quarter financial results include in cost of sales a pre-tax LIFO credit, or income, of $27.0 million, compared with a pre-tax LIFO charge, or expense, of $22.5 million for the third quarter of 2011 and a credit of $7.5 million for the second quarter of 2012.
  • Cash flow from operations was $247.6 million in the 2012 third quarter.
  • Quarterly dividend rate was increased to $.25 per share, an increase of 67%.

As of September 30, 2012, total debt outstanding at quarter end was $1.37 billion, or a net debt-to-total capital ratio of 26.4%. The Company currently has $788 million available on its $1.5 billion credit facility. The Company is pleased with its overall financial position and believes it has sufficient liquidity and financial flexibility to continue executing on its growth strategy and enhancing shareholder returns. For the fourth quarter ending December 31, 2012, management currently expects earnings per diluted share to be in the range of $.90 to $1.00.


RELIANCE STEEL & ALUMINUM CO. REPORTS SECOND QUARTER RESULTS SALES UP 8%, EPS UP 10%

On July 26, 2012 Reliance Steel & Aluminum Co. reported its financial results for the second quarter and six months ended June 30, 2012. For the 2012 second quarter, Reliance reported net income of $108.8 million, up 10% from 2011 second quarter net income of $98.7 million, and down 6% from 2012 first quarter net income of $116.2 million. Earnings per diluted share were $1.44 in the 2012 second quarter, up 10% from 2011 second quarter earnings per diluted share of $1.31 and down 6% from $1.54 in the 2012 first quarter. Sales for the 2012 second quarter were $2.21 billion, up 8% from 2011 second quarter sales of $2.05 billion, and down 3% from 2012 first quarter sales of $2.29 billion. The 2012 second quarter financial results include in cost of sales a pre-tax LIFO credit, or income, of $7.5 million, compared with a pre-tax LIFO charge, or expense, of $25.0 million for the 2011 second quarter and a charge of $7.5 million for the 2012 first quarter.

For the six months ended June 30, 2012, net income amounted to $225.0 million, up 18% compared with net income of $191.0 million for the 2011 six-month period. Earnings per diluted share were $2.98 for the six months ended June 30, 2012, up 17% compared with earnings of $2.54 per diluted share for the six months ended June 30, 2011. Sales for the 2012 six months were $4.50 billion, up 14% from 2011 six-month sales of $3.96 billion. The 2012 six-month financial results include no charge related to LIFO compared with a pre-tax LIFO charge of $45.0 million for the 2011 six months. LIFO adjustments, in effect, reflect cost of sales at current replacement costs.

Reliance's tons sold for the 2012 second quarter were up 10% from the 2011 second quarter and down 2% from the 2012 first quarter. The average price per ton sold in the 2012 second quarter was down 2% compared to both the 2011 second quarter and the 2012 first quarter. For the 2012 second quarter, carbon steel sales were 52% of net sales; aluminum sales were 15%; stainless steel sales were 15%; alloy sales were 11%; toll processing sales were 2%; and other sales were 5%.


RELIANCE STEEL & ALUMINUM CO. REPORTS FIRST QUARTER RESULTS SALES UP 20%, EPS UP 25%

On April 26, 2012, Reliance Steel & Aluminum Co. (NYSE:RS) reported its financial results for the first quarter ended March 31, 2012. For the 2012 first quarter, Reliance reported net income of $116.2 million, up 26% from 2011 first quarter net income of $92.3 million, and up 71% from $67.9 million in the 2011 fourth quarter. Earnings per diluted share were $1.54 in the 2012 first quarter, up 25% from 2011 first quarter earnings per diluted share of $1.23 and up 69% from $.91 for the 2011 fourth quarter. Sales for the 2012 first quarter were $2.29 billion, up 20% from 2011 first quarter sales of $1.91 billion, and up 13% from 2011 fourth quarter sales of $2.03 billion. The 2012 first quarter financial results include in cost of sales a pre-tax LIFO charge, or expense, of $7.5 million, compared with a pre-tax LIFO charge of $20.0 million for the 2011 first quarter and $17.8 million for the 2011 fourth quarter. The LIFO adjustments, in effect, reflect cost of sales at current replacement costs.

Reliance's tons sold for the 2012 first quarter were up 13.8% from the 2011 first quarter and up 11.2% from the 2011 fourth quarter. Average prices per ton sold in the 2012 first quarter were up 5.3% compared to the 2011 first quarter and up 1.3% compared to the 2011 fourth quarter. For the 2012 first quarter, carbon steel sales were 52% of net sales; aluminum sales were 15%; stainless steel sales were 15%; alloy sales were 12%; toll processing sales were 2%; and other sales were 4%.

Click here to see a complete list of financial statements.