Reliance Reports Strong Q1 Earnings with Record Shipments and Higher Prices
Reliance Inc. (NYSE:RS) reported stronger-than-expected Q1 results with record tons sold and increased average selling prices, leading to significant non-GAAP pre-tax income growth. The company secured a $2.2 billion government contract for a border wall project, which is expected to contribute to earnings but may slightly reduce gross margins. Reliance also raised its dividend and continues buybacks.
Topics: Buybacks Dividend Earnings Market Performance Profit Revenue