Steel Mills
July 25, 2014
Reliance Reports Record Sales Volume
Written by Sandy Williams
Reliance Steel and Aluminum reported a net income of $96.5 million for second quarter, up 11 percent from the previous quarter and 19 percent year over year. Sales were at a record $2.62 billion, up 2.5 percent on a quarterly basis.
Improved metals pricing contributed to improved gross profit margins. Demand was below expectations with 1,539,800 tons sold, only a 0.5 percent increase from the first quarter. The average price per ton (all products) was $1,703 per ton. Carbon steel sales totaled 1,265,000 tons.
