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RELIANCE STEEL & ALUMINUM CO

CIK:0000861884|SEC Filings

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
UNAUDITED CONSOLIDATED STATEMENT OF INCOME
Net sales	$ 4,630.0	$ 3,659.8	$ 8,656.0	$ 7,144.5
Costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	3,329.5	2,571.9	6,183.6	5,023.3
Warehouse, delivery, selling, general and administrative	789.4	706.0	1,524.2	1,396.2
Depreciation and amortization	69.5	69.7	138.7	138.4
Total costs and expenses	4,188.4	3,347.6	7,846.5	6,557.9
Operating income	441.6	312.2	809.5	586.6
Other (income) expense:
Interest expense	18.2	14.3	33.6	25.8
Other income, net	(6.4)	(6.4)	(3.4)	(5.9)
Income before income taxes	429.8	304.3	779.3	566.7
Income tax provision	106.2	70.1	190.1	132.0
Net income	323.6	234.2	589.2	434.7
Less: net income - noncontrolling interests	0.7	0.5	1.4	1.3
Net income - Reliance	$ 322.9	$ 233.7	$ 587.8	$ 433.4
Earnings per share:
Basic (in dollars per share)	$ 6.33	$ 4.44	$ 11.45	$ 8.2
Diluted (in dollars per share)	$ 6.29	$ 4.42	$ 11.38	$ 8.15
Weighted average shares outstanding:
Basic (in shares)	51,050	52,610	51,340	52,841
Diluted (in shares)	51,375	52,923	51,673	53,160

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 589.2	$ 434.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	138.7	138.4
Stock-based compensation	36.7	28.1
Other	(0.8)	(5.2)
Changes in operating assets and liabilities:
Accounts receivable	(673.3)	(326.8)
Inventories	(139.1)	(219.8)
Prepaid expenses and other assets	86.0	117.6
Accounts payable and other liabilities	276.2	126.5
Net cash provided by operating activities	313.6	293.5
Investing activities:
Acquisitions		(2.8)
Purchases of property, plant and equipment	(157.6)	(174.5)
Proceeds from sales of property, plant and equipment	15.4	12.9
Other	(4.6)	5.6
Net cash used in investing activities	(146.8)	(158.8)
Financing activities:
Proceeds from long-term debt borrowings	1,577.0	1,063.0
Principal payments on long-term debt	(1,334.7)	(781.0)
Cash dividends and dividend equivalents	(130.4)	(128.3)
Share repurchases	(234.2)	(333.1)
Taxes paid on net-settled restricted stock units	(14.8)	(11.6)
Excise tax on repurchase of common shares	(5.4)	(10.0)
Other	(3.7)	(21.0)
Net cash used in financing activities	(146.2)	(222.0)
Effect of exchange rate changes on cash and cash equivalents	(1.8)	8.7
Increase (decrease) in cash and cash equivalents	18.8	(78.6)
Cash and cash equivalents, beginning balance	216.6	318.1
Cash and cash equivalents, ending balance	235.4	239.5
Supplemental cash flow information:
Interest paid	32.7	24.0
Income taxes paid, net	$ 142.7	$ 71.0

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 235.4	$ 216.6
Accounts receivable, less allowance for credit losses of $22.3 and $22.1	2,210.4	1,539.9
Inventories	2,325.4	2,187.8
Prepaid expenses and other current assets	152.2	165.6
Income taxes receivable		31.2
Total current assets	4,923.4	4,141.1
Property, plant and equipment, net	2,652.1	2,633.3
Operating lease right-of-use assets	326.8	315.2
Goodwill	2,173.8	2,169.9
Intangible assets, net	945.0	960.1
Cash surrender value of life insurance policies, net	37.4	48.0
Other long-term assets	106.7	105.7
Total assets	11,165.2	10,373.3
Current liabilities:
Accounts payable	627.3	375.2
Accrued expenses	160.8	150.0
Accrued compensation and retirement benefits	212.0	198.1
Accrued insurance costs	61.3	56.4
Current maturities of long-term debt		0.7
Current maturities of operating lease liabilities	67.3	67.7
Income taxes payable	17.2
Total current liabilities	1,145.9	848.1
Long-term debt	1,663.9	1,420.2
Operating lease liabilities	264.0	250.9
Long-term retirement benefits	26.4	24.9
Other long-term liabilities	79.4	74.1
Deferred income taxes	574.4	575.6
Total liabilities	3,754.0	3,193.8
Commitments and contingencies
Equity:
Preferred stock, $0.001 par value: 5,000 shares authorized; none issued or outstanding
Common stock and additional paid-in capital, $0.001 par value and 200,000 shares authorized Issued and outstanding shares-51,053 and 51,735	23.4	0.1
Retained earnings	7,477.5	7,257.6
Accumulated other comprehensive loss	(99.4)	(87.6)
Total Reliance stockholders' equity	7,401.5	7,170.1
Noncontrolling interests	9.7	9.4
Total equity	7,411.2	7,179.5
Total liabilities and equity	$ 11,165.2	$ 10,373.3