Service Centers
April 22, 2021
Record Prices Produce Record Results at Reliance
Written by Tim Triplett
Reliance Steel & Aluminum Co., the nation’s largest metals distributor and processor, reported record pretax income of $359 million in first-quarter 2021, fueled by the unexpectedly high steel prices and solid demand in most of the markets the company serves.
“The combination of a record quarterly gross profit margin, average selling prices well above our expectations and our continued focus on expense control contributed to record pretax income and record quarterly earnings per diluted share of $4.12,” Reliance CEO Jim Hoffman told analysts and investors during the company’s quarterly conference call today.
