RELIANCE STEEL & ALUMINUM CO.
POWERED BY RESILIENCE: CELEBRATING 80 YEARS AND BEYOND
2019 ANNUAL REPORT
Powered by a resilient business model and an unwavering
commitment to service and innovation, 80 years after our
humble beginnings, Reliance has cemented our position at
the top of the metals service center industry.
Fueled by our successes, we forge into the future to evolve
into an even more diversified metal solutions provider and to
build a stronger, more sustainable, and lasting legacy for our
customers, employees, stockholders, and ourselves.
FORTUNE 500
R ANKING
275
OUR HIGHEST
EVER
BY INNOVATION
2
2019 ANNUAL REPORT We are on the cutting edge – literally. Over the past five
years Reliance has vastly outspent our competitors,
investing close to $1 billion into self-improvement – with
nearly half of that going directly to growth initiatives.
We keep our equipment and employees the sharpest in
the industry so we can provide not only best-in-class
service but expanded value-added processing services
and solutions to meet our customers’ business needs.
RECORD
$242 MILLION
IN CAPITAL
EXPENDITURES
IN 2019
3
POWERED BY RESILIENCE Our approximately 15,000 employees include machine
operators, drivers, inside and outside sales teams,
engineers, metallurgists, specialists across a variety
of professional disciplines including IT, finance,
management, and more. Our executive management
team has over a century of combined relevant metals
industry experience. Every day, the collective effort of
this diverse and dedicated team keeps Reliance in top
form and at the top of our industry. Our people are truly
the source of our success!
WINNER:
FASTMARKETS
AMM 2019
SERVICE CENTER
OF THE YE AR
BY OUR PEOPLE
BY SAFETY
6
2019 ANNUAL REPORT In 2019, our SMART Safety program unified our safety
efforts under the theme, “One Family, One Culture.” The
results? A 10% reduction in OSHA recordables compared
to 2018. In 2020, we “Make it Personal.” We believe
that an individual, personalized safety-first approach
empowers a ripple effect that has a positive impact on
teams, locations, and our entire Family of Companies.
JIM HOFFMAN
NAMED 2020 CEO
“ WHO GE TS IT ”
BY SAFE T Y +
HE ALTH MAGA ZINE
7
POWERED BY RESILIENCE We are devoted to our customers and our communities.
In keeping with our decentralized business model,
we encourage each member of our Family of
Companies to serve and contribute to the causes
that are important to their employees and their local
community. At the same time, we come together
to serve in national causes like the 9/11 Day of
Service and give to one another through our employee
emergency assistance fund, Reliance Cares.
BY SERVICE
SELECTED CONSOLIDATED FINANCIAL DATA
In millions, except number of shares which are reflected in thousands and per share amounts.
Year Ended December 31,
Income Statement Data:
Net sales
Cost of sales
(exclusive of depreciation and amortization expense)
Gross profit(1)
Warehouse, delivery, selling, general and
administrative expense(2)
Depreciation and amortization expense
Impairment of long-lived assets
Operating income
Other (income) expense:
Interest expense
Other (income) expense, net(2)
Income before income taxes
Provision (benefit) for income taxes(3)
Net income(3)
Less: Net income attributable to noncontrolling interests
2019
2018
2017
2016
2015
$10,973.8
$11,534.5
$9,721.0
$8,613.4
$9,350.5
7,644.4
8,253.0
6,933.2
6,023.1
6,803.6
3,329.4
2,095.4
3,281.5
2,091.8
2,787.8
1,902.8
2,590.3
1,798.1
2,546.9
1,725.3
219.3
1.2
1,013.5
85.0
(0.8)
929.3
223.2
706.1
4.6
215.2
37.0
937.5
86.2
0.7
850.6
208.8
641.8
8.1
218.4
4.2
662.4
73.9
4.7
583.8
(37.2)
621.0
7.6
222.0
52.4
517.8
84.6
4.0
429.2
120.1
309.1
4.8
218.5
53.3
549.8
84.3
6.8
458.7
142.5
316.2
4.7
Net income attributable to Reliance(3)
$701.5
$633.7
$613.4
$304.3
$311.5
Earnings Per Share:
Diluted(3)
Basic(3)
Weighted average shares outstanding – diluted
Weighted average shares outstanding – basic
Other Data:
$10.34
$10.49
67,855
66,885
$8.75
$8.85
72,441
71,621
$8.34
$8.42
73,539
72,851
$4.16
$4.21
73,121
72,363
$4.16
$4.20
74,902
74,096
Cash flow provided by operations
$1,301.5
$664.6
$399.0
$626.5
$1,025.0
Capital expenditures
Cash dividends per share
Balance Sheet Data (December 31):
Working capital
Total assets
Short-term debt(4)
Long-term debt(4)
Total equity
242.2
2.20
239.9
2.00
161.6
1.80
154.9
1.65
172.2
1.60
$2,334.9
$2,585.9
$2,347.6
$2,032.5
$1,564.5
8,131.1
8,044.9
7,751.0
7,411.3
7,121.6
65.6
1,525.2
5,214.1
66.8
2,141.1
4,679.5
92.6
1,809.6
4,699.9
83.1
1,847.2
4,179.1
501.3
1,428.9
3,942.7
(1) Gross profit, calculated as net sales less cost of sales, is a non-GA AP financial measure as it excludes depreciation and amortization expense
associated with the corresponding sales. About half of our orders are basic distribution with no processing services performed. For the remainder
of our sales orders, we perform “first-stage” processing, which is generally not labor intensive as we are simply cutting the metal to size. Because of
this, the amount of related labor and overhead, including depreciation and amortization expense, is not significant and is excluded from cost of sales.
Therefore, our cost of sales is substantially comprised of the cost of the material we sell. We use gross profit as shown above as a measure of operating
performance. Gross profit is an important operating and financial measure, as fluctuations in our gross profit can have a significant impact on our
earnings. Gross profit, as presented, is not necessarily comparable with similarly titled measures for other companies.
(2) The adoption of accounting rule changes in 2017 affected the presentation of pension costs. Prior year warehouse, delivery, selling, general and
administrative expense and other (income) expense, net have been retrospectively adjusted to conform to the current presentation.
(3) 2017 includes a $207.3 million, or $2.82 per share, income tax benefit as a result of the Tax Cuts and Jobs Act of 2017.
(4) Includes finance lease obligations.
10
10
2 019 A N N U A L R E P O R T
2019 ANNUAL REPORT
STOCKHOLDERS
In 2019, we celebrated two important milestones: our
and pricing pressure in the markets we serve, which
80th company anniversary and the 25th anniversary of
resulted in a 4.9% year-over-year decline in annual net
our initial public offering. Since Reliance’s founding
sales. Despite these challenging market conditions,
as a local steel distributor in Los Angeles, California
we achieved another year of record financial results:
in 1939 and through decades of growth and expansion
our 2019 gross profit margin of 30.3% was the highest
into a leading diversified metal solutions provider
in Reliance’s history and produced record annual
today with over 300 locations in 40 states and 13
gross profit dollars of $3.3 billion, record pretax
countries outside the United States, the primary focus
income of $929.3 million, record net income of $701.5
of our business and the core of our success has been
million, and record earnings per diluted share of
outstanding customer service delivered with integrity.
$10.34. Further, our strong profitability and focus on
Expansion initiatives – accretive acquisitions, solid
working capital management generated record cash
organic growth, and innovative investments in value-
flow from operations of $1.3 billion. We attribute
added processing – have always been undertaken with
these achievements to our proven business model and
the purpose of serving our customers and providing
increased resilience to fluctuations in metals pricing
value to our stockholders. We believe our history is
resulting from the diversity of our products, end
the key to writing the story of our future. Building on
markets, and geographies, as well as our increased
the momentum of our accomplishments thus far, we
focus on value-added processing.
enter another decade with renewed enthusiasm to
exceed the expectations of our customers, employees,
Reliance continues to benefit from our long-term
vendors, and stockholders while making meaningful
strategy of serving a broad spectrum of end markets
social contributions that reflect our commitments to
– including aerospace, automotive, non-residential
these stakeholder groups as well as the communities,
construction, heavy industry, and energy – which
environment, and world we share with those around us.
helps mitigate volatility in any single sector. Further,
our decentralized operating structure allows us to
We began 2019 with a company-wide goal to drive
concentrate on small orders; the majority of our
continuous improvements in our business following
customers purchase in smaller quantities on a when-
a record year of significant financial and operational
needed basis and are generally less price sensitive
milestones. We challenged ourselves to sustain our
than customers that place large volume orders with
operating momentum, and we are extremely pleased
long lead times. In 2019, our average order size was
with the outcome. Our managers in the field continued
$2,090 and approximately 40% of our orders were
their excellent performance amidst overall demand
delivered within 24 hours.
11
POWERED BY RESILIENCE Unlike 2018, where earnings were supported by
We are extremely proud of our record cash flow
favorable pricing conditions stemming from solid
generation in 2019. We are equally pleased with our
demand trends and trade actions, the overall pricing
strategic allocation of capital, which is a balanced
environment in 2019 remained under pressure, resulting
approach focused on both growth and stockholder
in a 1.3% decline in our average selling price year-
returns. Our twofold growth strategy of leveraging
over-year. Customer demand also softened, with our
capital expenditures to drive organic expansion,
same-store tons sold declining 4.2% compared to 2018.
coupled with strategic acquisitions of well-managed
Nevertheless, we were able to maintain an industry-
metals service centers, continues to solidify our
leading gross profit margin due to strong execution by
position as a leading diversified metal solutions
our managers in the field and their expertise in operating
provider in North America.
profitably throughout industrial cycles. Our managers
maintained a disciplined approach to pricing and
Over the last five years, Reliance has invested almost
focused on high quality, high margin business. At the
$1 billion in capital expenditures, with approximately
same time, they identified new opportunities to expand
50% dedicated to growth initiatives. In 2019, we
our value-added processing capabilities in order to meet
invested a record $242.2 million in new, innovative
– and in many cases, exceed – our customers’ needs
equipment and advanced technology to
improve
while simultaneously increasing our margins. In 2019,
the safety of our operations, enhance working
we performed value-added processing services on 51%
environments for our employees, and fund growth and
of our orders, an uptick from 49% in 2018 and our more
innovation initiatives to better meet our customers’
historical rate of approximately 40%. As a result of our
needs. Our 2020 capital expenditure budget maintains
strategic investments in value-added processing, along
our
focus on strengthening our value-added
with our ability to maintain a FIFO gross profit margin of
processing capabilities, as well as facility upgrades
28.8% or higher in each quarter of 2019, we increased
and expansions.
our estimated sustainable gross profit margin range
to 28% to 30% in early 2020 from our prior range of
Reliance has always focused on innovation in all
27% to 29%. On approximately $11 billion of sales, this
aspects of our business. In February 2020, we launched
represents a significant increase in gross profit dollars.
FastMetals, Inc., our new e-commerce business.
NET SALES (IN MILLIONS)
CASH FLOW FROM OPERATIONS (IN MILLIONS)
$10,973.8
2019
$1,301.5
$11,534.5
2018
$664.6
$9,721.0
$ 8,613.4
$9,350.5
2017
2016
2015
$ 399.0
$626.5
$1,025.0
2019
2018
2017
2016
2015
12
2019 ANNUAL REPORT Centrally located in Massillon, Ohio and with direct
$0.625 per share in the first quarter of 2020. We also
access to Reliance’s vast network of metals service
repurchased $50 million of our stock in 2019. These
centers, FastMetals was created to address the
actions underscore our commitment to delivering value
growing demand for online purchasing solutions and
to our stockholders as well as ongoing confidence in
to provide an additional channel to experience our
our business model.
unique, customer-focused business and access our
wide range of products.
In our day-to-day business operations, the health
and safety of our approximately 15,000 employees
Reliance completed one acquisition in 2019, bringing
worldwide remains our highest priority. We began to
our total post-IPO acquisition count to 67. On December
ramp up our efforts to reinvigorate our safety culture
31, 2019, we acquired Fry Steel Company, a general line
in 2017 with our SMART Safety program, a peer-to-
and long bar distributor located in Santa Fe Springs,
peer program that builds a safety culture based on
California that specializes in the cutting of various bar
employees watching out for each other to promote
products including stainless, alloy, aluminum, carbon,
a safe, accident-free work environment. Our 2019
brass and bronze. We remain true to our strategic
campaign focused on cultivating a common culture
objective of acquiring high quality businesses with
of safety across our entire Family of Companies and
strong management teams and superior levels of
introduced a mentoring element to foster learning at
customer service that complement our product and end
the location level. Our 2020 SMART Safety theme “Make
market diversification strategy as the opportunities
it Personal” promotes individual safety commitment,
present themselves.
engagement, preparedness, and accountability.
Returning value to our stockholders through quarterly
Beyond our commitment to safety, Reliance provides
cash dividends and share repurchases remains core to
a suite of benefits to help our employees enjoy
our capital allocation philosophy. We have paid regular
healthy, meaningful lives. In an environment where
quarterly cash dividends for 60 consecutive years and
healthcare costs continue to rise, we are proud to offer
have increased our dividend 27 times since our 1994
our employees and their dependents comprehensive
IPO, including our most recent increase of 13.6% to
healthcare options that reduce financial burden
NET INCOME (IN MILLIONS)
E ARNINGS PER SHARE (DILUTED)
2019
2018
2017
2016
2015
$701.5
2019
$10.34
$633.7
$613.4*
$ 304.3
$ 311.5
2018
2017
2016
2015
$ 8.75
$ 8.34*
$ 4.16
$ 4.16
* Includes a $207.3 million, or $2.82 per share, income tax benefit as a result of the Tax Cuts and Jobs Act of 2017.
13
POWERED BY RESILIENCE and promote their personal well-being, including
of our proprietary delivery fleet is composed of
a wellness program that includes onsite health
energy-efficient diesel tractors that consume less
screenings and personalized coaching to drive
fuel and reduce emissions. As we make further
behavioral and lifestyle improvements.
innovative investments to support our customers and
our business, we will also continue to evaluate and
Our dedication to each and every member of our
implement initiatives that support our environment.
Family of Companies was the foundation for “Reliance
Cares,” our emergency assistance fund dedicated to
Reliance is extremely proud of our 80-year history
supporting employees impacted by natural disasters.
which includes 25 years as a publicly traded company;
Through employee funded contributions, matched
industrywide recognition as the Acquirer of Choice
dollar for dollar by Reliance, we have been able
and Top Service Center; and being named among the
to provide over 200 grants to employees since the
“World’s Most Admired” and Fortune 500 companies.
inception of Reliance Cares in 2017.
We started as a small, family-run business. As we grew,
other family-run businesses wanted to be acquired by
Reliance is also devoted to investing in and enriching
Reliance because our decentralized model champions
the communities in which we live and work. We
relationships and maintains their respected identity
encourage each member of our Family of Companies
and reputation. Today we are recognized as the largest
to participate in community events and often match
metals service center company in North America and a
their local fundraising efforts. In 2019, Reliance was
leading metal solutions provider. More than anything,
a corporate sponsor of the “Meal Pack for 9/11 Day”
though, we are a Family of Companies that continues
in observance of the 9/11 National Day of Service and
to grow and evolve. Our 2019 results demonstrate our
Remembrance, which honors victims, first responders,
resilience to ever-changing market conditions and our
military personnel and others impacted by the 9/11
ability to produce record results through the excellent
terrorist attacks. We also actively support our veterans
operational execution of our employees. Despite
and enlisted members of the Armed Forces and their
global uncertainty attributable to the coronavirus
families through numerous non-profit organizations
pandemic, we look to the future with optimism and
and we work hard to welcome veterans into the Reliance
a steadfast commitment to promoting a safe and
Family of Companies through recruiting efforts and job
healthy operating environment for our employees,
placement programs. Looking ahead, we will continue
maximizing our earnings, and increasing value for our
to seek, support, and participate in national and local
stockholders. On behalf of Reliance, we would like to
community engagement opportunities, including those in
express deep gratitude to our loyal supporters for their
which our employees can participate.
ongoing partnership. We look forward to continued
success in 2020, and for many years beyond.
Finally, we are committed
to environmental
responsibility. Our operations, by nature, involve
inherently sustainable products: steel and aluminum,
the primary metals we work with, can be fully recycled
without loss of quality. We purchase significant
volumes of metal produced from electric arc furnaces
that repurpose recycled metals into prime material.
Additionally, we have installed natural and energy-
JAMES D. HOFFMAN
President and Chief Executive Officer
efficient lighting in many of our facilities and use
propane fuel to operate our forklifts. The majority
KARLA R. LEWIS
Senior Executive Vice President and Chief Financial Officer
14
2019 ANNUAL REPORT BY PRODUCT
C A RBON S TEEL PL ATE
C A RBON S TEEL TUBING
C A RBON S TEEL S TRUCTUR A L S
HE AT-TRE ATED A LUMINUM PL ATE
HOT-ROL L ED S TEEL SHEE T & COIL
S TA INL E S S S TEEL B A R & TUBE
11%
11%
10%
7%
7%
7%
C A RBON S TEEL B A R
6%
A LUMINUM B A R & TUBE
COMMON A L LOY A LUMINUM SHEE T & COIL
MISCEL L A NEOUS, INCLUDING BR A S S, COPPER, TITA NIUM,
M A NUFACTURED PA RT S A ND SCR A P
S TA INL E S S S TEEL SHEE T & COIL
A L LOY B A R & ROD
GA LVA NIZED S TEEL SHEE T & COIL
TOL L PROCE S SING – A LUMINUM,
C A RBON S TEEL A ND S TA INL E S S S TEEL*
5%
5%
5%
5%
4%
4%
4%
COL D-ROL L ED S TEEL SHEE T & COIL
3%
S TA INL E S S S TEEL PL ATE
2%
COMMON A L LOY A LUMINUM PL ATE
HE AT-TRE ATED A LUMINUM SHEE T & COIL
A L LOY TUBE
A L LOY PL ATE, SHEE T & COIL
1%
1%
1%
1%
16
*Includes revenues for logistics services provided by our toll processing companies.
2019 ANNUAL REPORT BY COMMODITY
CARBON STEEL
52%
ALUMINUM
19%
STAINLESS STEEL
14%
ALLOY
6%
MISCELL ANEOUS
5%
TOLL PROCESSING AND LOGISTICS
4%
17
POWERED BY RESILIENCE BY REGION
MIDWEST
30%
WEST/SOUTHWEST
SOUTHE A ST
23%
19%
INTERNATIONAL
8%
MID-ATL ANTIC
NORTHE A ST
7%
6%
PACIFIC NORTHWEST
4%
MOUNTAIN
3%
18
2019 ANNUAL REPORT BY PRESENCE
STATES
AL ABAMA
AL A SK A
ARIZONA
ARK ANSA S
CALIFORNIA
COLOR ADO
CONNECTICUT
FLORIDA
GEORGIA
IDAHO
ILLINOIS
INDIANA
IOWA
K ANSA S
KENTUCK Y
LOUISIANA
MARYL AND
OHIO
OKL AHOMA
OREGON
MA SSACHUSET TS
PENNSYLVANIA
MICHIGAN
MINNESOTA
MISSOURI
MONTANA
NEVADA
NEW HAMPSHIRE
NEW JERSE Y
NEW ME XICO
NEW YORK
NORTH CAROLINA
RHODE ISL AND
SOUTH CAROLINA
TENNESSEE
TE X A S
UTAH
VIRGINIA
WA SHINGTON
WISCONSIN
INTERNATIONAL
AUSTRALIA
BELGIUM
CANADA
CHINA
FRANCE
INDIA
MALAYSIA
MEXICO
SINGAPORE
SOUTH KOREA
TURKEY
UNITED ARAB EMIRATES
UNITED KINGDOM
19
POWERED BY RESILIENCE HISTORICAL FINANCIAL DATA
In millions, except per share data.
Year Ended December 31,
Income Statement Data:
Net sales
Operating income(1)
Pretax income
Income taxes(2)
Net income attributable to Reliance(2)
Weighted average shares outstanding – diluted
Balance Sheet Data (December 31):
Current assets
Working capital
Net fixed assets
Total assets(3)
Current liabilities
Short-term debt(3)
Long-term debt(3)
Total equity
Per Share Data:
Earnings – diluted(2)
Dividends
Book value(4)
Ratio Analysis:
Return on Reliance stockholders’ equity(5)
Current ratio
Net debt-to-total capital ratio(6)
Gross profit margin(7)
Operating income margin(1)
Pretax income margin
Net income margin – Reliance(2)
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
$10,973.8
$11,534.5
$9,721.0
$8,613.4
$9,350.5
$10,451.6
$9,223.8
$8,442.3
$8,134.7
$6,312.8
$5,318.1
1,013.5
929.3
223.2
701.5
67.9
937.5
850.6
208.8
633.7
72.4
662.4
583.8
(37.2)
613.4
73.5
517.8
429.2
120.1
304.3
73.1
$3,010.2
$3,285.0
$3,051.3
$2,688.5
$2,554.2
$3,121.1
$2,738.9
$2,277.4
$2,274.7
$1,700.9
$1,390.9
2,334.9
1,795.2
8,131.1
675.3
65.6
1,525.2
5,214.1
$10.34
$2.20
$77.83
15.1%
4.5
21.4%
30.3%
9.2%
8.5%
6.4%
2,585.9
1,729.9
8,044.9
699.1
66.8
2,141.1
4,679.5
$8.75
$2.00
$69.83
13.9%
4.7
30.8%
28.4%
8.1%
7.4%
5.5%
2,347.6
1,656.3
7,751.0
703.7
92.6
1,809.6
4,699.9
$8.34
$1.80
$64.29
9.8%
4.3
27.2%
28.7%
6.8%
6.0%
6.3%
2,032.5
1,662.2
7,411.3
656.0
83.1
1,847.2
4,179.1
$4.16
$1.65
$57.07
7.8%
4.1
30.3%
30.1%
6.0%
5.0%
3.5%
549.8
458.7
142.5
311.5
74.9
1,564.5
1,635.5
7,121.6
989.7
501.3
1,428.9
3,942.7
$4.16
$1.60
$54.59
8.0%
2.6
31.8%
27.2%
5.9%
4.9%
3.3%
617.4
546.3
170.0
371.5
78.6
2,458.3
1,656.4
7,822.4
662.8
94.6
2,209.6
4,127.9
$4.73
$1.40
$53.03
9.6%
4.7
34.9%
25.1%
5.9%
5.2%
3.6%
554.3
478.3
153.6
321.6
77.6
2,165.5
1,603.9
7,323.6
573.4
36.8
2,055.1
3,884.4
$4.14
$1.26
$49.99
9.0%
4.8
34.1%
26.0%
6.0%
5.2%
3.5%
661.6
609.4
201.1
403.5
75.7
1,699.2
1,240.7
5,846.7
578.2
84.0
1,113.0
3,567.4
$5.33
$0.80
$46.82
12.8%
3.9
23.6%
26.1%
7.8%
7.2%
4.8%
574.8
511.6
162.4
343.8
75.0
1,698.3
1,105.5
5,592.3
576.4
12.8
1,306.9
3,152.0
$4.58
$0.48
$41.92
12.2%
3.9
28.2%
24.4%
7.1%
6.3%
4.2%
364.6
296.5
98.6
194.4
74.5
1,192.3
1,025.3
4,659.1
508.6
87.0
848.0
254.8
195.5
46.3
148.2
73.7
973.3
981.3
4,293.5
417.6
87.1
839.3
2,830.1
2,608.1
$2.61
$0.40
$37.83
$2.01
$0.40
$35.34
7.5%
3.3
23.3%
25.1%
5.8%
4.7%
3.1%
6.1%
3.3
25.3%
26.3%
4.8%
3.7%
2.8%
(1) Operating income represents net sales less cost of sales, warehouse, delivery, selling, general and administrative expense, depreciation and amortization expense and impairment
of long-lived assets. The calculation of operating income in years 2012 through 2019 includes various non-recurring charges and credits, including impairment charges in 2019,
2018, 2017, 2016, 2015, 2013 and 2012. Additionally, the adoption of accounting rule changes in 2017 affected the presentation of operating income. Prior year operating income and
margin amounts have been retrospectively adjusted to conform to the current presentation.
(2) 2017 includes a $207.3 million, or $2.82 per share, income tax benefit as a result of the Tax Cuts and Jobs Act of 2017.
(3) Short-term and long-term debt amounts include finance lease obligations. The adoption of accounting rule changes in 2015 affected the presentation of debt issuance costs. Prior
year total assets, long-term debt and net debt-to-total capital ratio amounts have been retrospectively adjusted to conform to the current presentation.
(4) Book value per share is calculated as Reliance stockholders’ equity divided by the number of common shares outstanding as of December 31 of each year.
(5) Return on Reliance stockholders’ equity is based on the beginning of year equity amount, except for 2019, 2018 and 2015, which are adjusted for $50.0 million, $484.9 million and
$355.5 million of share repurchases, respectively, and 2017, which is adjusted for a $207.3 million income tax benefit as a result of the Tax Cuts and Jobs Act of 2017.
2 0
2019 ANNUAL REPORT In millions, except per share data.
Year Ended December 31,
Income Statement Data:
Net sales
Operating income(1)
Pretax income
Income taxes(2)
Net income attributable to Reliance(2)
Weighted average shares outstanding – diluted
Balance Sheet Data (December 31):
Current assets
Working capital
Net fixed assets
Total assets(3)
Current liabilities
Short-term debt(3)
Long-term debt(3)
Total equity
Per Share Data:
Earnings – diluted(2)
Dividends
Book value(4)
Ratio Analysis:
Current ratio
Return on Reliance stockholders’ equity(5)
Net debt-to-total capital ratio(6)
Gross profit margin(7)
Operating income margin(1)
Pretax income margin
Net income margin – Reliance(2)
1,013.5
929.3
223.2
701.5
67.9
2,334.9
1,795.2
8,131.1
675.3
65.6
1,525.2
5,214.1
$10.34
$2.20
$77.83
15.1%
4.5
21.4%
30.3%
9.2%
8.5%
6.4%
937.5
850.6
208.8
633.7
72.4
2,585.9
1,729.9
8,044.9
699.1
66.8
2,141.1
4,679.5
$8.75
$2.00
$69.83
13.9%
4.7
30.8%
28.4%
8.1%
7.4%
5.5%
662.4
583.8
(37.2)
613.4
73.5
2,347.6
1,656.3
7,751.0
703.7
92.6
1,809.6
4,699.9
$8.34
$1.80
$64.29
9.8%
4.3
27.2%
28.7%
6.8%
6.0%
6.3%
517.8
429.2
120.1
304.3
73.1
2,032.5
1,662.2
7,411.3
656.0
83.1
1,847.2
4,179.1
$4.16
$1.65
$57.07
7.8%
4.1
30.3%
30.1%
6.0%
5.0%
3.5%
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
$10,973.8
$11,534.5
$9,721.0
$8,613.4
$9,350.5
$10,451.6
$9,223.8
$8,442.3
$8,134.7
$6,312.8
$5,318.1
549.8
458.7
142.5
311.5
74.9
617.4
546.3
170.0
371.5
78.6
554.3
478.3
153.6
321.6
77.6
661.6
609.4
201.1
403.5
75.7
574.8
511.6
162.4
343.8
75.0
364.6
296.5
98.6
194.4
74.5
254.8
195.5
46.3
148.2
73.7
$3,010.2
$3,285.0
$3,051.3
$2,688.5
$2,554.2
$3,121.1
$2,738.9
$2,277.4
$2,274.7
$1,700.9
$1,390.9
1,564.5
1,635.5
7,121.6
989.7
501.3
1,428.9
3,942.7
$4.16
$1.60
$54.59
8.0%
2.6
31.8%
27.2%
5.9%
4.9%
3.3%
2,458.3
1,656.4
7,822.4
662.8
94.6
2,209.6
4,127.9
$4.73
$1.40
$53.03
9.6%
4.7
34.9%
25.1%
5.9%
5.2%
3.6%
2,165.5
1,603.9
7,323.6
573.4
36.8
2,055.1
3,884.4
$4.14
$1.26
$49.99
9.0%
4.8
34.1%
26.0%
6.0%
5.2%
3.5%
1,699.2
1,240.7
5,846.7
578.2
84.0
1,113.0
3,567.4
$5.33
$0.80
$46.82
12.8%
3.9
23.6%
26.1%
7.8%
7.2%
4.8%
1,698.3
1,105.5
5,592.3
576.4
12.8
1,306.9
3,152.0
$4.58
$0.48
$41.92
12.2%
3.9
28.2%
24.4%
7.1%
6.3%
4.2%
1,192.3
1,025.3
4,659.1
508.6
87.0
848.0
973.3
981.3
4,293.5
417.6
87.1
839.3
2,830.1
2,608.1
$2.61
$0.40
$37.83
$2.01
$0.40
$35.34
7.5%
3.3
23.3%
25.1%
5.8%
4.7%
3.1%
6.1%
3.3
25.3%
26.3%
4.8%
3.7%
2.8%
(6) Net debt-to-total capital ratio is calculated as total debt (net of cash) divided by Reliance stockholders’ equity plus total debt (net of cash).
(7) Gross profit, calculated as net sales less cost of sales, and gross profit margin, calculated as gross profit divided by net sales, are non-GA AP financial measures as they exclude
depreciation and amortization expense associated with the corresponding sales. About half of our orders are basic distribution with no processing services performed. For the
remainder of our sales orders, we perform “first-stage” processing which is generally not labor intensive as we are simply cutting the metal to size. Because of this, the amount of
related labor and overhead, including depreciation and amortization, is not significant and is excluded from cost of sales. Therefore, our cost of sales is substantially comprised
of the cost of the material we sell. We use gross profit margin as shown above as a measure of operating performance. Gross profit margin is an important operating and financial
measure, as fluctuations in our gross profit margin can have a significant impact on our earnings. Gross profit margin, as presented, is not necessarily comparable with similarly
titled measures for other companies.
21
POWERED BY RESILIENCE RETURN ON EQUIT Y (% RE TURN)
Based on beginning of the year equity.
2019
2018
2017
2016
2015
15%*
14%*
10%*
8%
8%*
* Return on Reliance stockholders’ equity is based on the
beginning of the year equity amount, except for 2019, 2018 and
2015, which are adjusted for $50.0 million, $484.9 million and
$355.5 million of share repurchases, respectively, and 2017,
which is adjusted for a $207.3 million income tax benefit as a
result of the Tax Cuts and Jobs Act of 2017.
FOR THE FUTURE
2 2
2019 ANNUAL REPORT For 80 years, Reliance has been powered by innovation,
people, safety, and service. These key values have
propelled the execution of our core strategy – making
us North America’s largest metals service center
company and placing us on Fortune magazine’s list of
top 500 and “World’s Most Admired” companies. Our
success belongs to our employees, our customers,
our stockholders, and our communities. We strive to
evolve and further increase our resilience through
focused growth and a commitment to continuous
improvement. We believe that our history is the key
to writing the story of our future – and that we are just
getting started!
2 3
POWERED BY RESILIENCE RELIANCE LOCATIONS
DI V I S ION S
Bralco Metals
Los Angeles, CA – Headquarters
714-736-4800
Albuquerque, NM
505-345-0959
Dallas, TX
972-276-2676
Phoenix, AZ
602-252-1918
Seattle, WA
253-395-0614
Wichita, KS
316-838-9351
Affiliated Metals
A Bralco Metals Company
Salt Lake City, UT
801-363-1711
Olympic Metals
A Bralco Metals Company
Denver, CO
303-286-9700
Central Plains Steel Co.
Wichita, KS
316-636-4500
MetalCenter
Los Angeles, CA
562-944-3322
Reliance Aerospace Solutions
Cypress, CA
877-727-6073
Reliance Metalcenter
Colorado Springs, CO
719-390-4911
Dallas, TX
817-640-7222
Oakland, CA
510-476-4400
Phoenix, AZ
602-275-4471
Phoenix, AZ
480-986-6156
Salt Lake City, UT
801-974-5300
San Antonio, TX
210-661-2301
24
San Diego, CA
619-263-2141
Reliance Steel Company
Albuquerque, NM
505-247-1441
Los Angeles, CA
323-583-6111
Smith Pipe & Steel Company
Phoenix, AZ
602-257-9494
Tube Service Co.
Los Angeles, CA – Headquarters
562-695-0467
Denver, CO
303-321-9200
Phoenix, AZ
602-267-9865
Portland, OR
503-944-5420
San Diego, CA
619-579-3011
San Jose, CA
408-946-5500
SUBSIDIARIES
All Metal Services Limited
A Subsidiary of Reliance Metals UK
Holding Limited – Holding Company
London, United Kingdom – Headquarters
44 18 9544 4066
Belfast, United Kingdom
44 28 9073 9648
Birmingham, United Kingdom
44 16 7543 0307
Bolton, United Kingdom
44 19 4284 0777
Bristol, United Kingdom
44 11 7982 2484
Losse, France
33 558 936 800
Minworth, United Kingdom
44 16 7543 0307
Slough, United Kingdom – Sales Office
44 20 7318 5066
All Metal Services India Private Limited
A Subsidiary of All Metal Services Limited
Belagavi, India
91 80 2837 9124
All Metal Services Ltd. (Xi’an)
A Subsidiary of All Metal Services Limited
Xi’an, People’s Republic of China
86 29 8612 5300
All Metal Services (Malaysia) Sdn. Bhd.
A Subsidiary of All Metal Services Limited
Selangor Darul Ehsan, Malaysia
60 3 7803 5643
All Metals Processing & Logistics, Inc.
Spartanburg, SC – Headquarters
864-574-8050
Cartersville, GA
770-427-7379
All Metals Transportation and Logistics, Inc.
Decatur, AL
877-877-7528
Allegheny Steel Distributors, Inc.
Pittsburgh, PA
412-767-5000
American Metals Corporation
Doing Business as American Steel
Portland, OR – Headquarters
503-651-6700
Fresno, CA
559-266-0881
Sacramento, CA
916-371-7700
Seattle, WA
253-437-4080
Haskins Steel Company
A Division of American Metals Corporation
Spokane, WA
509-535-0657
Lampros Steel
A Division of American Metals Corporation
Portland, OR
503-285-6667
LSI Plate
A Division of American Metals Corporation
Rancho Cucamonga, CA
877-877-7528
Alaska Steel Company
A Subsidiary of American Metals Corporation
Anchorage, AK – Headquarters
907-561-1188
2019 ANNUAL REPORT
Fairbanks, AK
907-456-2719
Kenai, AK
907-283-3880
AMI Metals, Inc.
Nashville, TN – Headquarters
615-377-0400
Fort Worth, TX
817-831-9586
Los Angeles, CA
909-429-1336
CCC Steel, Inc.
Los Angeles, CA
310-637-0111
IMS Steel Co.
A Division of CCC Steel, Inc.
Salt Lake City, UT
801-973-1000
Elk Grove Village, IL
847-238-9265
Newark, NJ
973-588-1100
Continental Alloys & Services Inc.
Houston, TX – Headquarters
281-376-9600
Chapel Steel Corp.
Philadelphia, PA – Corporate Office
215-793-0899
Lafayette, L A
337-837-9311
Birmingham, AL
205-781-0317
Seattle, WA – Sales Office
253-735-0181
Birmingham, AL – Sales Office
800-641-1006
Spokane, WA
509-570-5880
St. Louis, MO
636-946-9492
Swedesboro, NJ
856-241-9180
Wichita, KS
316-945-7771
AMI Metals Aero Services Ankara
Havacılık Anonim Şirketi
A Subsidiary of AMI Metals, Inc.
Ankara, Turkey
90 312 810 0000
AMI Metals Europe SPRL
A Subsidiary of AMI Metals, Inc.
Gosselies, Belgium
32 71 37 67 99
AMI Metals France
A Subsidiary of AMI Metals, Inc.
Figeac, France
33 565 503 460
AMI Metals UK Limited
A Subsidiary of Reliance Metals UK Holding
Limited — Holding Company
Milton Keynes, United Kingdom –
Headquarters
44 845 853 6149
Ellesmere Port, United Kingdom
44 151 355 6035
Best Manufacturing, Inc.
Jonesboro, AR
870-931-9533
Bralco Metals (Australia) Pty Ltd
Doing Business as Airport Metals
(Australia)
Melbourne, Australia
61 3 9310 5566
Chicago, IL
815-937-1970
Chicago, IL – Sales Office
708-429-2244
Cleveland, OH
216-446-6840
Houston, TX
713-462-4449
Philadelphia, PA
610-705-0477
Portland, OR
503-228-3355
Tulsa, OK
844-964-0335
Chapel Steel Canada, Ltd.
A Subsidiary of Reliance Metals Canada
Holdings Limited – Holding Company
Hamilton, Ontario, Canada
289-780-0570
Chatham Steel Corporation
Savannah, GA – Headquarters
912-233-4182
Birmingham, AL
205-791-2261
Columbia, SC
803-799-8888
Durham, NC
919-682-3388
Orlando, FL
407-859-0310
Clayton Metals, Inc.
Chicago, IL – Headquarters
630-860-7000
Continental Alloys & Services, Inc.
A Subsidiary of Reliance Metals Canada
Holding Limited — Holding Company
Calgary, Alberta, Canada
403-216-5150
Continental Alloys & Services Limited
A Subsidiary of Reliance Metals UK Holding
Limited — Holding Company
Brechin, Scotland
44 135 662 5515
Peterhead, Scotland
44 177 948 0420
Continental Alloys & Services Pte. Ltd.
A Subsidiary of Reliance Asia Holding Pte.
Ltd. — Holding Company
Jurong, Singapore
65 6690 0178
Continental Alloys & Services (Malaysia)
Sdn. Bhd.
A Subsidiary of Continental Alloys &
Services Pte. Ltd.
Senai, Johor, Malaysia
60 7 599 9975
Continental Alloys Middle East FZE
A Subsidiary of Reliance Steel & Aluminum
Co.
Dubai, United Arab Emirates
971 4 8809770
Crest Steel Corporation
Riverside, CA
951-727-2600
Delta Steel, Inc.
Houston, TX – Headquarters
713-635-1200
Cedar Hill, TX
817-293-5015
Chicago, IL
708-757-7198
Fort Worth, TX
817-293-5015
San Antonio, TX
210-661-4641
2 5
POWERED BY RESILIENCE
Diamond Manufacturing Company
Wyoming, PA – Headquarters
800-233-9601
Cedar Hill, TX
972-291-8800
Michigan City, IN
219-874-2374
McKey Perforating Co.
A Division of Diamond Manufacturing
Company
New Berlin, WI
800-532-7373
Manchester, TN
931-723-3636
Perforated Metals Plus
A Division of Diamond Manufacturing
Company
Charlotte, NC
704-598-0443
Ferguson Perforating Company
A Subsidiary of Diamond Manufacturing
Company
Providence, RI – Headquarters
401-941-8876
New Castle, PA
724-657-8703
DuBose National Energy Fasteners &
Machined Parts, Inc.
Cleveland, OH
216-362-1700
DuBose National Energy Services, Inc.
Clinton, NC – Headquarters
910-590-2151
Charlotte, NC – Sales Office
704-295-1060
Exton, PA – Sales Office
610-594-9413
Durrett Sheppard Steel Co., Inc.
Baltimore, MD
410-633-6800
Earle M. Jorgensen Company
Los Angeles, CA – Headquarters
323-567-1122
Atlanta, GA
678-894-2500
Birmingham, AL
205-814-0043
Boise, ID
503-283-2251
Boston, MA
508-435-6854
2 6
Charlotte, NC
704-588-3001
Chicago, IL
847-301-6100
Cincinnati, OH
513-771-3223
Cleveland, OH
330-425-1500
Cleveland, OH (Plate)
330-963-8150
Dallas, TX
214-741-1761
Denver, CO
303-287-0381
Detroit, MI
734-402-8110
Hartford, CT
508-435-6854
Houston, TX
713-672-1621
Indianapolis, IN
317-838-8899
Kansas City, MO
816-483-4140
Lafayette, L A
713-672-1621
Memphis, TN
901-317-4300
Minneapolis, MN
763-784-5000
Oakland, CA
510-487-2700
Orlando, FL
800-365-5454
Philadelphia, PA
215-949-2850
Phoenix, AZ
602-272-0461
Portland, OR
503-283-2251
Quad Cities, IA
563-285-5340
Richmond, VA
804-732-7491
Rochester, NY
330-425-1500
Salt Lake City, UT
801-532-2543
Seattle, WA
253-872-0100
St. Louis, MO
314-291-6080
Tulsa, OK
918-835-1511
Wrightsville, PA
215-949-2850
Encore Metals USA
A Division of Earle M. Jorgensen Company
Portland, OR
503-620-8810
Salt Lake City, UT
801-383-3808
Steel Bar
A Division of Earle M. Jorgensen Company
Charlotte, NC
336-294-0053
Reliance Metals Canada Limited
A Subsidiary of Earle M. Jorgensen Company
Edmonton, Alberta, Canada – Corporate
Office
780-801-4114
Earle M. Jorgensen (Canada)
A Division of Reliance Metals Canada Limited
Edmonton, Alberta, Canada – Headquarters
780-801-4015
Montreal, Quebec, Canada
450-661-5181
North Bay, Ontario, Canada
705-474-0866
Quebec City, Quebec, Canada
418-870-1422
Toronto, Ontario, Canada
905-564-0866
Encore Metals
A Division of Reliance Metals Canada Limited
Vancouver, British Columbia, Canada –
Headquarters
604-940-0439
Calgary, Alberta, Canada
403-236-1418
Edmonton, Alberta, Canada
780-436-6660
Prince George, British Columbia, Canada
250-563-3343
Winnipeg, Manitoba, Canada
204-663-1450
Team Tube
A Division of Reliance Metals Canada Limited
Vancouver, British Columbia, Canada –
Headquarters
604-468-4747
Calgary, Alberta, Canada
403-279-8131
Edmonton, Alberta, Canada
780-462-7222
2019 ANNUAL REPORT
Montreal, Quebec, Canada
450-978-8877
Toronto, Ontario, Canada
905-878-1156
Earle M. Jorgensen (Asia) Sdn. Bhd.
A Subsidiary of Reliance Asia Holding Pte.
Ltd. — Holding Company
Nusajaya, Malaysia
60 7 531 9155
FastMetals, Inc.
Massillon, OH
833-327-8685
Feralloy Corporation
Chicago, IL – Corporate Office
773-380-1500
Charleston, SC
843-336-4107
Decatur, AL
256-301-0500
Portage, IN
219-787-9698
Acero Prime, S. de R.L. de C.V.
A Subsidiary of Feralloy Corporation
San Luis Potosí, Mexico – Headquarters
52 444 870 7700
Monterrey, Mexico
52 818 000 5300
Ramos Arizpe, Mexico
52 844 450 6400
Toluca, Mexico
52 722 262 5500
GH Metal Solutions, Inc.
A Subsidiary of Feralloy Corporation
Fort Payne, AL – Headquarters
256-845-5411
Charleston, SC
843-336-4107
Decatur, AL
256-845-5411
Fort Payne, AL (East)
256-845-5411
Feralloy Processing Company
A Joint Venture of Feralloy Corporation
51% Owned
Portage, IN
219-787-8773
Indiana Pickling & Processing Company
A Joint Venture of Feralloy Corporation
56% Owned
Portage, IN
219-787-8889
Oregon Feralloy Partners
A Joint Venture of Feralloy Corporation
40% Owned
Portland, OR
503-286-8869
Fox Metals and Alloys, Inc.
Houston, TX
281-890-6666
Fry Steel Company
Santa Fe Springs, CA
562-802-2721
Infra-Metals Co.
Wallingford, CT – Headquarters
203-294-2980
Philadelphia, PA – Corporate Office
215-741-1000
Atlanta, GA
404-419-3460
Baltimore, MD
410-355-1664
Hallandale, FL
954-454-1564
Marseilles, IL
815-795-5002
New Boston,OH
740-353-1350
Petersburg, VA
804-957-5900
Tampa, FL
813-626-6005
Athens Steel
A Division of Infra-Metals Co.
Athens, GA
706-552-3850
IMS Steel
A Division of Infra-Metals Co.
Atlanta, GA
404-419-3460
KMS FAB, LLC
Luzerne, PA
570-338-0200
KMS South, Inc.
W. Columbia, SC
803-796-9995
Liebovich Bros., Inc.
Rockford, IL – Corporate Office
815-987-3200
Custom Fab Company
A Division of Liebovich Bros., Inc.
Rockford, IL
815-987-3210
Good Metals Company
A Division of Liebovich Bros., Inc.
Grand Rapids, MI
616-241-4425
Hagerty Steel & Aluminum Company
A Division of Liebovich Bros., Inc.
Peoria, IL – Headquarters
309-699-7251
Liebovich Steel & Aluminum Company
A Division of Liebovich Bros., Inc.
Rockford, IL – Headquarters
815-987-3200
Cedar Rapids, IA
800-373-7956
Green Bay, WI
800-646-2790
Rockford, IL
815-964-9471
Rockford, IL
815-874-8536
Metals USA, Inc.
Metals USA Carbon Flat Rolled, Inc.
A Subsidiary of Metals USA, Inc.
Northbrook, IL – Headquarters
847-291-2400
Germantown, WI
262-255-4444
Horicon, WI
920-485-9750
Liberty, MO
816-415-0004
Randleman, NC
336-498-8900
Springfield, OH
937-882-6354
Walker, MI
616-453-9845
Wooster, OH
330-264-8416
Lynch Metals
A Division of Metals USA Carbon Flat
Rolled, Inc.
Union, NJ – Headquarters
908-686-8401
Anaheim, CA
714-238-7240
Ohio River Metal Services, Inc.
A Subsidiary of Metals USA Carbon Flat
Rolled, Inc.
Jeffersonville, IN
812-282-4770
Metals USA Plates and Shapes, Inc.
A Subsidiary of Metals USA, Inc.
Langhorne, PA – Headquarters
267-580-2100
27
POWERED BY RESILIENCE
Ambridge, PA
724-266-7708
Bethlehem, PA
610-691-4270
Fairless Hills, PA
215-337-7000
Greensboro, NC
336-674-7991
Jacksonville, FL
904-766-0003
Mobile, AL
251-456-4531
Newark, NJ
973-242-1000
Oakwood, GA
770-536-1214
Philadelphia, PA
215-673-9300
Seekonk, MA
508-399-8500
Waggaman, L A
504-431-7010
York, PA
717-757-3549
Gregor Technologies, LLC
A Subsidiary of Metals USA Plates and
Shapes, Inc.
Torrington, CT
860-482-2569
Metals USA Plates and Shapes
Southcentral, Inc.
A Subsidiary of Metals USA, Inc.
Enid, OK
580-233-0411
Muskogee, OK
918-487-6800
Tulsa, OK
918-583-2222
The Richardson Trident Company, LLC
A Subsidiary of Metals USA Plates and
Shapes Southcentral, Inc.
Richardson, TX – Headquarters
972-231-5176
Odessa, TX
432-561-5446
Tulsa, OK
918-252-5781
44 121 328 7700
London, United Kingdom
44 199 245 0300
Manchester, United Kingdom
44 161 483 9662
National Specialty Alloys, Inc.
Houston, TX – Headquarters
281-345-2115
Anaheim, CA
714-870-7800
Buford, GA
770-945-9255
Aleaciones Especiales de México, S. de
R.L. de C.V.
A Subsidiary of National Specialty Alloys, Inc.
Cuautitlán, Mexico
52 55 2225 0835
Northern Illinois Steel Supply Co.
Channahon, IL
815-467-9000
Pacific Metal Company
Portland, OR – Headquarters
503-454-1051
Billings, MT
406-245-2210
Boise, ID
208-323-8045
Eugene, OR
541-485-1876
Seattle, WA
253-796-2840
Spokane, WA
509-535-0326
408-988-3000
Stockton, CA
209-943-0513
Vancouver, WA
360-225-1133
Feralloy PDM Steel Service
A Division of PDM Steel Service Centers, Inc.
Stockton, CA
209-234-0548
Phoenix Corporation
Doing Business as Phoenix Metals Company
Atlanta, GA – Headquarters
770-447-4211
Birmingham, AL
205-841-7477
Charlotte, NC
704-588-7075
Cincinnati, OH
513-727-4763
Fort Smith, AR
479-452-3802
Hammond, IN
513-727-4763
Kansas City, KS
913-321-5200
Nashville, TN
931-486-1456
Philadelphia, PA
215-295-9512
Richmond, VA
804-222-5052
St. Louis, MO
636-379-4050
Tampa, FL
813-626-8999
PDM Steel Service Centers, Inc.
Elk Grove, CA – Headquarters
916-513-4548
Denver, CO
303-297-1456
Fresno, CA
209-943-0513
Aluminum & Stainless
A Division of Phoenix Corporation
Lafayette, L A
337-837-4381
New Orleans, L A
504-586-9191
Grand Junction, CO – Sales Office
970-858-3441
Precision Flamecutting and Steel, Inc.
Houston, TX
281-477-1600
Altair Electronics, LLC
A Subsidiary of The Richardson Trident
Company, LLC
Richardson, TX
972-231-5176
Metalweb Limited
Birmingham, United Kingdom – Headquarters
Las Vegas, NV
702-413-0067
Provo, UT
801-798-8676
Reno, NV
775-358-1441
Santa Clara, CA
2 8
Precision Strip Inc.
Minster, OH – Headquarters
419-628-2343
Bowling Green, KY
270-282-8420
Dayton, OH
2019 ANNUAL REPORT Viking Materials, Inc.
Minneapolis, MN – Headquarters
612-617-5800
Chicago, IL
847-451-7171
Yarde Metals, Inc.
Southington, CT – Headquarters
860-406-6061
East Hanover, NJ
973-463-1166
Greensboro, NC
336-500-0535
Hauppauge, NY
631-232-1600
Limerick, PA
610-495-7545
North Canton, OH
330-342-7020
Pelham, NH
603-635-1266
937-667-6255
Indianapolis, IN
765-778-4452
Kenton, OH
419-674-4186
Middletown, OH
513-423-4166
Portage, IN
219-850-5080
Rockport, IN
812-362-6480
Talladega, AL
256-315-2345
Toledo, OH
419-661-1100
Vonore, TN
423-271-3690
Woodburn, KY
270-542-6100
Woodhaven, MI
734-301-4001
Reliance Metalcenter Asia Pacific Pte. Ltd.
A Subsidiary of Reliance Asia Holding Pte.
Ltd. — Holding Company
Jurong, Singapore
65 6265 1211
Service Steel Aerospace Corp.
Seattle, WA – Headquarters
253-627-2910
Canton, OH
330-833-5800
Wichita, KS
316-838-7737
Dynamic Metals International
A Division of Service Steel Aerospace Corp.
Bristol, CT
860-688-8393
United Alloys Aircraft Metals
A Division of Service Steel Aerospace Corp.
Los Angeles, CA
323-588-2688
Siskin Steel & Supply Company, Inc.
Chattanooga, TN – Headquarters
423-756-3671
Louisville, KY
502-716-5140
Nashville, TN
615-242-4444
Spartanburg, SC
864-599-9988
East Tennessee Steel Supply Co.
A Division of Siskin Steel & Supply
Company, Inc.
Morristown, TN
423-587-3500
Sugar Steel Corporation
Chicago, IL – Headquarters
708-757-9500
Evansville, IN
812-428-5490
Perrysburg, OH
419-661-8500
Sunbelt Steel Texas, Inc.
Houston, TX – Headquarters
713-937-4300
Lafayette, L A
337-330-4140
Tubular Steel, Inc.
St. Louis, MO – Headquarters
314-851-9200
Katy, TX
281-371-5200
Hazelwood, MO
314-524-6600
Lorain, OH
440-960-6100
New Haven, MO
800-325-0890
Rialto, CA
909-429-6900
Savannah, GA
912-748-2405
Staunton, IL
618-635-3695
Valex Corp.
Ventura, CA
805-658-0944
Valex Semiconductor Materials (Zhejiang)
Co., Ltd.
A Subsidiary of Valex Corp.
Haiyan Economic Development Zone,
People’s Republic of China
86 21 5818 3189
Valex Korea Co., Ltd.
A 96% Owned Subsidiary of Valex Corp.
Seoul, Republic of Korea
82 31 683 0119
2 9
POWERED BY RESILIENCE
CORPORATE DIRECTORY
Corporate Information
DIR E C T OR S
OF F IC ER S
James D. Hoffman
President and Chief Executive Officer
Karla R. Lewis
Senior Executive Vice President and Chief
Financial Officer
William K. Sales, Jr.
Executive Vice President, Operations
Jeffrey W. Durham
Senior Vice President, Operations
Stephen P. Koch
Senior Vice President, Operations
Michael P. Shanley
Senior Vice President, Operations
William A. Smith II
Senior Vice President, General Counsel,
and Corporate Secretary
Arthur Ajemyan
Vice President, Corporate Controller
Suzanne M. Bonner
Vice President, Chief Information Officer
Brenda S. Miyamoto
Vice President, Corporate Initiatives
Donald J. Prebola
Vice President, Health and Human Resources
John A. Shatkus
Vice President, Internal Audit
Silva Yeghyayan
Vice President, Tax
Mark V. Kaminski (1), (2)
Chairman of the Board
Executive Chairman and Director
Graniterock
Sarah J. Anderson (1), (2), (4)
Former Partner
Ernst & Young LLP
Lisa Baldwin (1), (2)
Chief Information Officer
Tiffany & Co.
Karen W. Colonias (1), (2), (3)
President and Chief Executive Officer
Simpson Manufacturing Co., Inc.
John G. Figueroa (1), (3), (4)
Chairman and Chief Executive Officer
Carepathrx
David H. Hannah
Former Executive Chairman of the Board
Reliance Steel & Aluminum Co.
James D. Hoffman
President and Chief Executive Officer
Reliance Steel & Aluminum Co.
Robert A. McEvoy (1), (3), (4)
Former Managing Director
Goldman Sachs
Andrew G. Sharkey, III (1), (3), (4)
Former President and Chief Executive Officer
American Iron and Steel Institute
Douglas W. Stotlar (1), (2), (4)
Former President and Chief Executive Officer
Con-way Inc.
(1) Independent Director
(2) Member of the Audit Committee
(3) Member of the Compensation Committee
(4) Member of the Nominating and Governance Committee
3 0
2019 ANNUAL REPORT CORPORATE INFORMATION
TRANSFER AGENT & REGISTRAR
American Stock Transfer & Trust Company
6201 15th Avenue
Brooklyn, NY 11219
800-937-5449
718-921-8124
www.amstock.com
INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
KPMG LLP
Los Angeles, CA
RELIANCE STEEL & ALUMINUM CO.
CORPORATE HEADQUARTERS
350 South Grand Avenue
Suite 5100
Los Angeles, CA 90071
213-687-7700
www.rsac.com
SECURITIES LISTING
Reliance Steel & Aluminum Co.’s common stock is traded
on the New York Stock Exchange under the symbol “RS.”
MARKET PRICE OF COMMON STOCK
The high and low sales prices for the Company’s common
stock in 2019 were $121.33 and $69.70. The following table
sets forth the high and low sales prices of the Company’s
common stock for the stated calendar quarters.
2019
1Q
2Q
3Q
4Q
LOW
HIGH
$69.70
$90.66
$83.27
$94.62
$103.74
$90.81
$121.33 $97.10
FORM 10-K
A copy of the Annual Report on Form 10-K,
filed with the United States Securities and
Exchange Commission, is available at:
https://www.sec.gov/ or
https://investor.rsac.com/ or upon request to:
STOCKHOLDERS OF RECORD AND DIVIDEND POLICY
As of February 21, 2020, there were 182 record holders of
our common stock. We have paid quarterly cash dividends
on our common stock for 60 consecutive years. Our Board
of Directors has increased the quarterly dividend rate on a
periodic basis 27 times since our IPO in 1994.
Karla R. Lewis
Senior Executive Vice President and
Chief Financial Officer
Reliance Steel & Aluminum Co.
350 South Grand Avenue
Suite 5100
Los Angeles, CA 90071
INVESTOR RELATIONS CONTACT
Brenda S. Miyamoto
213-576-2428
investor@rsac.com
FORWARD-LOOKING STATEMENTS
This Annual Report includes statements that, to the
extent they are not recitations of historical fact, may
constitute forward-looking statements within the
meanng of the federal securities laws, and are based on
Reliance’s current expectations and assumptions. For a
discussion identifying important factors that could cause
actual results to vary materially from those anticipated
in the forward-looking statements, see Reliance’s
2019 annual report on Form 10-K. As a result, these
statements speak only as of the date that they are made,
and Reliance disclaims any and all obligation to publicly
update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
350 SOUTH GRAND AVENUE, SUITE 5100 | LOS ANGELES, CA 90071 | 213-687-7700 | WWW.RSAC.COM