In This Article:
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Revenue from Acquisitions: Added approximately $400 million of net sales on an annualized basis from four acquisitions in 2024.
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Non-GAAP Earnings Per Share (EPS): $15.92 for the full year 2024.
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Cash Flow from Operations: $1.43 billion, the third highest in the company's history.
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Capital Expenditures: $430 million in 2024, with a 2025 budget of $325 million.
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Share Repurchases: $1.1 billion in 2024, resulting in a 6% reduction in outstanding shares.
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Dividends: $250 million returned to stockholders in 2024.
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Gross Profit Margin: 29.7% for the full year 2024.
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Fourth Quarter Tons Sold: Decreased 5.1% compared to Q3 2024, but increased 6.7% year-over-year.
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Average Selling Price per Ton: $2,170 in Q4 2024, a decline of 3.4% from Q3 2024.
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Non-GAAP SG&A Expense: Increased by 1.3% year-over-year in Q4 2024.
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Impairment Charges: $11.7 million in Q4 2024.
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Net Debt-to-EBITDA Ratio: Less than one.
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First Quarter 2025 Earnings Guidance: Non-GAAP EPS expected to be in the range of $3.30 to $3.50.
Release Date: February 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Reliance Inc (NYSE:RS) achieved a strong full-year gross profit margin of 29.7%, within their sustainable annual range.
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The company successfully acquired and integrated four companies in 2024, adding approximately $400 million in net sales and expanding their geographic footprint.
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Reliance Inc (NYSE:RS) reported a non-GAAP earnings per share of $15.92, reflecting the benefits of targeted growth strategies and strong pricing discipline.
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The company generated the third highest annual cash flow from operations in its history, amounting to $1.43 billion.
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Reliance Inc (NYSE:RS) maintained a balanced and disciplined approach to capital deployment, investing significantly in capital expenditures, acquisitions, share repurchases, and dividends.
Negative Points
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Fourth quarter tons sold decreased by 5.1% compared to the third quarter of 2024, although this was better than the expected decline.
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The average selling price per ton declined by 3.4% in the fourth quarter compared to the third quarter of 2024.
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The semiconductor industry shipments remained restrained in the fourth quarter due to excess inventories in the supply chain.
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The company incurred impairment charges of $11.7 million in Q4 associated with the consolidation of operations to streamline efficiencies.
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Reliance Inc (NYSE:RS) experienced a sequential decline in fourth quarter gross profit margin due to the recognition of LIFO expense, impacting profitability.