Reliance (RS) Q2 2025 Earnings Call Transcript

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Wed, April 22, 2026 astatine 10:27 AM CDT 25 min read

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Thursday, July 24, 2025 astatine 11 a.m. ET

• President & Chief Executive Officer — Karla R. Lewis

• Senior Executive Vice President & Chief Operating Officer — Stephen P. Koch

• Senior Vice President & Chief Financial Officer — Arthur Ajemyan

Karla R. Lewis: Good morning, everyone, and convey you each for joining america contiguous to sermon our 2nd 4th 2025 performance. Our coagulated fiscal results erstwhile again demonstrated the resilience of our proven concern exemplary successful a volatile environment. Our operating teams proceed to excel successful providing worth to our customers and expanding our marketplace stock portion efficaciously managing their businesses done ongoing marketplace uncertainty. Our grounds 2nd 4th tons sold compared to past twelvemonth erstwhile again importantly outperformed the manufacture mean measurement by 7 percent points which we property to our unparalleled scale, entree to home metallic and breadth of processing capabilities.

Importantly, we maintained a gross nett borderline wrong our sustainable scope of 29% to 31%, successful enactment with our astute profitable maturation initiative. Our beardown show generated sequential increases successful non-GAAP pretax income successful excess of 15% and non-GAAP net per stock of $4.43, an summation of much than 17% compared to the anterior quarter. Our superior allocation model remains unchanged, and our semipermanent absorption continues to usher some our maturation and stockholder instrumentality strategies. Reliance generated $229 cardinal of currency travel from operations successful the 2nd quarter. Our beardown currency travel continues to enactment investments successful precocious value-added processing equipment, integrated maturation and accretive acquisitions that presumption Reliance for maturation successful each marketplace environments.

Our 2025 superior expenditure fund remains astatine $325 million, with implicit 50% dedicated to maturation projects. Our expected full currency outlay for 2025 is expected to beryllium successful the $360 cardinal to $380 cardinal range, reflecting carryover projects from anterior years that volition beryllium completed this year. Our 2nd 4th results see benefits from our 2024 acquisitions, and we stay successful a presumption of fiscal spot to execute connected M&A opportunities that align with our disciplined criteria.

We proceed to spot caller acquisition opportunities contempt continuing macroeconomic uncertainty, and we volition support our absorption connected pursuing opportunities that grow our geographic footprint and the value-added metallic processing solutions we connection our customers align with our accent connected astute profitable maturation and complement our beardown gross nett borderline profile. We besides stay committed to returning superior to our stockholders. We returned $143 cardinal to our stockholders successful the 2nd 4th successful dividends and stock repurchases, and we person repurchased implicit 1.2 cardinal shares year-to-date astatine favorable prices. In summary, I'm pleased with our beardown operational execution successful the 2nd quarter, peculiarly fixed the rapidly changing commercialized environment.