ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS
LWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS
PONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAY
NG. ALWAYS GROWING. ALWAYS RESPONSIBLE. ALWAYS PEOPL
ABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROWING.
VATIVE. ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. AL
LWAYS PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALW
S GROWING. ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALW
FLEXIBLE. ALWAYS STRONG. ALWAYS GROWING. ALWAYS RESP
LWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS ST
PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RE
WING. ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS I
BLE. ALWAYS STRONG. ALWAYS GROWING. ALWAYS RESPONSIB
YS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRON
LE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RELIABL
NG. ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS INN
BLE. ALWAYS STRONG. ALWAYS GROWING. ALWAYS RESPONSIBL
AFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. A
RST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RELIABLE. AL
AYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS INNOVATIVE
STRONG. ALWAYS GROWING. ALWAYS RESPONSIBLE. ALWAYS P
RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROW
VATIVE. ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. AL
LWAYS PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALW
AYS GROWING. ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. A
AYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROWING. ALWAYS RE
ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS ST
PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RE
WIING. ALWAYS RESPONSBLE. ALWAYS PEOPLE FIRST. ALWAYS I
ALWAYS
ON
2024 Annual Report
EOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS REL
ELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROWIN
ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS INNOVA
VATIVE. ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. A
ALWAYS STRONG. ALWAYS GROWING. ALWAYS RESPONSIBLE. A
WAYS PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALW
S RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROW
OWING. ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS
S INNOVATIVE. ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXI
IBLE. ALWAYS STRONG. ALWAYS GROWING. ALWAYS RESPONSI
SPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS INNOVATIVE. ALWA
ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS ST
STRONG. ALWAYS GROWING. ALWAYS RESPONSIBLE. ALWAYS PE
PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RE
RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROW
ROWING. ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAY
Y ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RELIABLE. ALWA
WAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROWING. ALWAYS
YS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS INNOVATIVE. A
ALWAYS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS S
STRONG. ALWAYS GROWING. ALWAYS RESPONSIBLE. ALWAYS P
PEOPLE FRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS RE
RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROWI
SPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS INNOVATIVE. ALWA
YS SAFE. ALWAYS RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRON
ONG. ALWAYS GROWING. ALWAYS RESPONSIBLE. ALWAYS PEOP
PEOPLE FIRST. ALWAYS INNOVATIVE. ALWAYS SAFE. ALWAYS REL
RELIABLE. ALWAYS FLEXIBLE. ALWAYS STRONG. ALWAYS GROW
OWING. ALWAYS RESPONSIBLE. ALWAYS PEOPLE FIRST. ALWAYS
1
In 2024, our business model once again proved
its resilience, delivering solid financial results.
At Reliance, we are always on – driving growth,
embracing change, and staying people-focused –
even amid market challenges.
ALWAYS GROWING.
ALWAYS STRONG.
ALWAYS ON.
2
ALWAYS
STRONG
3
$1.43B OPERATING CASH
FLOW: THIRD-HIGHEST IN
COMPANY HISTORY
REPURCHASED RECORD $1.09B
OF COMMON STOCK, REDUCING
OUTSTANDING SHARES BY 6%
29.7% ANNUAL GROSS
PROFIT MARGIN
4
FOUR STRATEGIC ACQUISITIONS
COMPLETED IN 2024
$13.84B IN ANNUAL NET SALES;
TONS SOLD UP 4.0%
2024 CAPITAL EXPENDITURES
OF $431M, WITH TWO-THIRDS
GROWTH RELATED
ALWAYS
GROWING
5
6
ALWAYS
TOTAL RECORDABLE
INCIDENT RATE (TRIR): 1.75
OSHA RECORDABLES
DOWN 39% FROM 2015
USDOT CRASH RATE: 0.46
SAFE
7
DEAR FELLOW STOCKHOLDERS,
As we reflect on 2024, we are proud to report that
Reliance once again demonstrated the resilience of our
business model in a challenging market. We finished
the year with net sales of $13.84 billion; earnings per
diluted share of $15.56; and our third-highest operating
cash flow of $1.43 billion – showcasing the adaptability
and strength of our strategic model in a dynamic
operating environment featuring declining metal prices
and inflationary headwinds.
Our performance demonstrates the effectiveness
of our targeted growth strategies, diverse market
reach, strong pricing discipline, and expanded value-
added processing capabilities. In 2024, we completed
processing services on approximately 50% of our
orders and maintained a small average order size
of $2,980, with approximately 40% of our orders
delivered to customers within 24 hours. We continue
to meet the evolving needs of our more than 125,000
customers across diverse end markets such as non-
residential construction (including infrastructure),
aerospace, automotive, broader manufacturing,
semiconductor, and more.
Smart, Profitable Growth Strategy
Our focus on smart, profitable growth continues to
fuel our success. In 2024, we grew our tons sold by
4% year-over-year, or 1% on a same-store basis. For
the third consecutive year, Reliance volumes have
significantly outpaced industry shipment levels.
We credit these achievements to our targeted
growth strategy and expansion of our partnerships
with specific customers in key markets. Increased
volume in 2024 generated additional gross profit
and absorbed much of our higher operating costs
attributable to inflation. We have strategically
increased our market share by prioritizing high margin
business, delivering increased value to our customers,
and remaining disciplined. We believe maintaining this
formula affords us significant growth opportunities.
Our commitment to smart, profitable growth helps
protect our margins and drive long-term value creation.
Our 2024 gross profit margin of 29.7% was well
within our sustainable annual range of 29% to 31%,
highlighting the strength and resilience of our strategic
business model.
Disciplined Stewards of Capital
Strong profitability and effective working capital
management generated our third-highest annual cash
flow from operations of $1.43 billion. Our robust cash
flow enabled us to maintain our disciplined approach
to capital deployment in 2024, with investments
totaling $431 million in capital expenditures; $365
million in acquisitions; and a record $1.09 billion in
share repurchases, resulting in a 6% reduction of our
outstanding shares, year-over-year. Our 2025 capital
expenditure budget is $325 million, approximately
one-half of which is allocated to growth initiatives to
enhance our value-added capabilities, upgrade and
maintain our facilities, and expand into new markets.
8
We also returned $250 million in dividends to you,
our valued stockholders, in 2024. In the first quarter
of 2025, we announced a 9.1% increase in our
quarterly dividend to a current annual rate of $4.80
per common share, marking our 32nd increase since
our 1994 IPO. We are proud to have rewarded our
stockholders with 65 consecutive years of dividends
without reduction or suspension.
Accretive Acquisitions
In 2024, we successfully completed four acquisitions,
contributing an additional $400 million in annualized net
sales. These strategic transactions expand Reliance’s
geographic presence and strengthen our processing
capabilities in both new and existing markets,
positioning us well for ongoing growth.
•
Cooksey Iron & Metal Company in Tifton, GA, is a
metals service center that processes and distributes
finished steel products such as tubing, beams,
plates, and bars. Cooksey supports our strategy of
customer, product, and geographical diversification,
and strengthens our position in the Southeast.
•
American Alloy Steel, Inc., headquartered in
Houston, TX, with six additional locations, is a
leading distributor of specialty carbon and alloy
steel plate and round bar, including pressure vessel
quality (PVQ) material. American Alloy expands our
product portfolio to include specialty carbon steel
plate and enhances our fabrication capabilities.
•
Mid-West Materials, Inc. in Perry, OH, is a premier
flat-rolled steel service center primarily servicing
North American OEMs. Mid-West increases our
flat-rolled presence in the important Ohio market
and surrounding regions.
•
We also acquired certain toll processing assets of
the FerrouSouth division of Ferragon Corporation
in Iuka, MS, strengthening our logistics capabilities,
including shipping and warehousing services, in the
rapidly growing Southeastern market.
Commitment to Employee Safety, Health & Wellbeing
The safety, health, and wellbeing of our employees is
at the core of our daily operations. We are particularly
proud of our 2024 Total Recordable Incident Rate
(TRIR) of 1.75 which was well below the 2023 Metals
Service Center Institute (MSCI) median of 3.4.
With a fleet of approximately 1,900 commercial
trucks, we are also proud of our U.S. Department of
$13,835.0
$14,805.9
$17,025.0
$14,093.3
$8,811.9
2024
2023
2022
2021
2020
2020
NET SALES
(IN MILLIONS)
NET INCOME
(IN MILLIONS)
$875.2
$1,335.9
$1,840.1
$1,413.0
$369.1
2024
2023
2022
2021
9
Transportation (USDOT) recordable crash rate of 0.46
which is below the 0.52 recordable rate of our industry
peers. We remain dedicated to fostering a safety-first
mindset and are committed to realizing our goal of
zero injuries.
In addition to our safety efforts, our community
involvement has grown under our Reliance Cares
corporate social responsibility initiative. In 2024,
we significantly expanded employee-driven
volunteer activities across our Family of Companies,
strengthening our connection to the communities
where we live and do business. We reached another
milestone in our relationship with Ronald McDonald
House Charities® (RMHC®), committing to donate $10
million over the next five years to establish and fund
the Nourishing Families Grant Program to ensure that
families staying at RMHC® houses around the world
have access to healthy, nutritious meals.
The driving force behind Reliance is our nearly 16,000
employees. Their commitment to excellence in
service, strong execution, and unwavering focus on
moving metal safely are integral to our success. Our
employees’ dedication to sharing best practices
and collaborating across the Family of Companies
continues to gain momentum and strengthen our
Reliance culture, generate our industry-leading
financial results, and empower our success. We are
more than metal – we are industrial strength.
CASH FLOW FROM OPERATIONS
(IN MILLIONS)
$1,429.8
$2,118.6
$799.4
$1,173.0
2024
2023
2022
2021
2020
$1,671.3
EARNINGS PER SHARE
(DILUTED)
$15.56
$22.64
$29.92
$21.97
$5.66
2024
2023
2022
2021
2020
* Return on Reliance stockholders’ equity is based on the beginning of
the year equity amount, adjusted for $337.3 million, $323.5 million,
$630.3 million, $479.5 million, and $1.09 billion of share repurchases
for 2020, 2021, 2022, 2023, and 2024, respectively.
RETURN ON EQUITY*
Based on beginning of the year equity, as adjusted.
12%
19%
32%
28%
7%
2024
2023
2022
2021
2020
Our acquisition of American Alloy Steel, Inc. expands our product portfolio to
include pressure vessel quality (PVQ) material and specialty carbon steel plate,
and enhances our fabrication capabilities.
10
Celebrating 30 Years at NYSE
In September 2024, we celebrated our 85th year in
business as well as our 30-year anniversary as a listed
company on the New York Stock Exchange (NYSE)
by ringing The Closing Bell®. Reliance debuted on
the NYSE under ticker symbol “RS” at $14.50 per
share ($3.22 split adjusted) on September 16, 1994.
Since then, we have grown from approximately $450
million in annual sales to the largest metals service
center company in North America. Our 2024 sales
were $13.84 billion and RS achieved a new all-time
high closing price of $340.04 on April 5, 2024. Our
stock performance reflects a 16.9% compound annual
growth rate since our 1994 IPO, consistently outpacing
the S&P 500 and underscoring the enduring strength
and potential of our business.
Thank you again to our dedicated team for their
outstanding execution in 2024 that continues to make
our industry-leading performance possible. We are
also incredibly thankful for the trust and loyalty of
our customers who rely on us to timely deliver high-
quality, trusted products quickly and efficiently; our
partnership motivates us and remains a key driver of
our success. We are also grateful for our longstanding
suppliers whose consistent support enables us to
deliver value to our customers.
Finally, we would like to extend our sincere thanks to
you, our stockholders, for your sustained confidence
in Reliance which allows us to pursue opportunities and
grow our business in meaningful ways.
Looking ahead, we remain committed to prioritizing the
safety of our team; driving smart, profitable growth;
maintaining strong gross profit margins; expanding our
processing capabilities; managing costs and working
capital effectively; balancing growth and stockholder
returns; and fostering increased collaboration across
our Family of Companies.
Karla R. Lewis
President and Chief Executive Officer
Arthur Ajemyan
Senior Vice President, Chief Financial Officer
Stephen P. Koch
Executive Vice President, Chief Operating Officer
Reliance executives ring The Closing Bell at the NYSE in September 2024.
11
In millions, except number of shares which are reflected in thousands and per share amounts.
Year Ended December 31,
2024
2023
2022
2021
2020
Income Statement Data:
Net sales
$13,835.0
$14,805.9
$17,025.0
$14,093.3
$8,811.9
Cost of sales (exclusive of depreciation and
amortization expense)
9,728.4
10,258.6
11,773.7
9,603.0
6,036.8
Gross profit(1)
4,106.6
4,547.3
5,251.3
4,490.3
2,775.1
Warehouse, delivery, selling, general and
administrative expense
2,666.2
2,562.4
2,504.2
2,306.5
1,874.0
Depreciation and amortization expense
268.7
245.4
240.2
230.2
227.3
Impairment expense
11.7
-
-
4.7
108.0
Operating income
1,160.0
1,739.5
2,506.9
1,948.9
565.8
Other (income) expense:
Interest expense
40.3
40.1
62.3
62.7
62.9
Other (income) expense, net
(20.2)
(41.3)
14.2
3.1
24.7
Income before income taxes
1,139.9
1,740.7
2,430.4
1,883.1
478.2
Income tax provision
261.9
400.6
586.2
465.7
105.8
Net income
878.0
1,340.1
1,844.2
1,417.4
372.4
Less: net income attributable to noncontrolling interests
2.8
4.2
4.1
4.4
3.3
Net income attributable to Reliance
$875.2
$1,335.9
$1,840.1
$1,413.0
$369.1
Earnings Per Share:
Basic
$15.70
$22.90
$30.39
$22.35
$5.74
Diluted
$15.56
$22.64
$29.92
$21.97
$5.66
Weighted average shares outstanding - basic
55,746
58,328
60,559
63,217
64,328
Weighted average shares outstanding - diluted
56,246
59,015
61,495
64,327
65,263
Other Data:
Cash flow provided by operations
$1,429.8
$1,671.3
$2,118.6
$799.4
$1,173.0
Capital expenditures
430.6
468.8
341.8
236.6
172.0
Cash dividends per share
4.40
4.00
3.50
2.75
2.50
Balance Sheet Data (December 31):
Working capital
$2,682.5
$3,928.2
$3,511.3
$3,095.1
$2,499.8
Total assets
10,021.8
10,480.3
10,329.9
9,536.0
8,106.8
Short-term debt
399.7
0.3
508.2
5.0
6.0
Long-term debt
742.8
1,141.9
1,139.4
1,642.0
1,638.9
Total equity
7,230.6
7,732.8
7,095.9
6,093.7
5,122.7
(1) Gross profit, calculated as net sales less cost of sales, is a non-GAAP 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.
SELECTED CONSOLIDATED FINANCIAL DATA
12
STATES
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Florida
Georgia
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
Tennessee
Texas
Utah
Virginia
Washington
Wisconsin
INTERNATIONAL
Belgium
Canada
China
France
Malaysia
Mexico
Singapore
South Korea
United Arab Emirates
United Kingdom
GEOGRAPHIC PRESENCE
SALES BY REGION
Mid-Atlantic 7%
Northeast 6%
Pacific Northwest 4%
Mountain 2%
International 7%
Midwest 31%
West/Southwest 23%
Southeast 20%
13
Stainless steel bar & tube
Stainless steel sheet & coil
Stainless steel plate
Aluminum bar & tube
Heat-treated aluminum plate
Common alloy aluminum sheet & coil
Common alloy aluminum plate
Heat-treated aluminum sheet & coil
SALES BY COMMODITY
SALES BY PRODUCT
*Includes revenues for logistics services provided by our toll processing companies.
CARBON STEEL 53%
STAINLESS STEEL 14%
ALUMINUM 16%
ALLOY 5%
OTHER 12%
Carbon steel plate
Carbon steel structurals
Carbon steel tubing
Hot-rolled steel sheet & coil
Carbon steel bar
Galvanized steel sheet & coil
Cold-rolled steel sheet & coil
12%
11%
10%
8%
5%
5%
2%
7%
5%
2%
Alloy bar & rod
Alloy tube
4%
1%
Miscellaneous, including titanium,
manufactured parts, PVC pipe & scrap
Toll processing* – aluminum, carbon steel,
and stainless steel
Copper & brass
6%
4%
2%
5%
5%
4%
1%
1%
14
In millions, except per share amounts.
Year Ended December 31,
2024
2023
2022
2021
Income Statement Data:
Net sales
$13,835.0
$14,805.9
$17,025.0
$14,093.3
Operating income(1)
1,160.0
1,739.5
2,506.9
1,948.9
Pretax income
1,139.9
1,740.7
2,430.4
1,883.1
Income taxes(2)
261.9
400.6
586.2
465.7
Net income attributable to Reliance(2)
875.2
1,335.9
1,840.1
1,413.0
Weighted average shares outstanding - diluted
56.2
59.0
61.5
64.3
Balance Sheet Data (December 31):
Current assets
$3,895.5
$4,771.8
$4,886.6
$4,160.1
Working capital
2,682.5
3,928.2
3,511.3
3,095.1
Net fixed assets
2,544.9
2,248.4
1,974.6
1,836.8
Total assets(3)
10,021.8
10,480.3
10,329.9
9,536.0
Current liabilities
1,213.0
843.6
1,375.3
1,065.0
Short-term debt(3)
399.7
0.3
508.2
5.0
Long-term debt(3)
742.8
1,141.9
1,139.4
1,642.0
Total equity
7,230.6
7,732.8
7,095.9
6,093.7
Per Share Data:
Earnings - diluted(2)
$15.56
$22.64
$29.92
$21.97
Dividends
$4.40
$4.00
$3.50
$2.75
Book value(4)
$134.41
$134.84
$120.56
$98.48
Ratio Analysis:
Return on Reliance stockholders' equity(5)
12.1%
19.3%
31.6%
28.0%
Current ratio
3.2
5.7
3.6
3.9
Net debt-to-total capital ratio(6)
10.2%
0.8%
6.3%
18.1%
Gross profit margin(7)
29.7%
30.7%
30.8%
31.9%
Operating income margin(1)
8.4%
11.7%
14.7%
13.8%
Pretax income margin
8.2%
11.8%
14.3%
13.4%
Net income margin - Reliance(2)
6.3%
9.0%
10.8%
10.0%
(1) Operating income represents net sales less cost of sales, warehouse, delivery, selling, general and administrative expense, depreciation and amortization expense, and impairment
expense. The calculation of operating income in years 2014 through 2024 includes various non-recurring charges and credits, including impairment charges in 2024, 2021, 2020, 2019,
2018, 2017, 2016 and 2015. 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) 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.
SELECTED CONSOLIDATED FINANCIAL DATA
15
2020
2019
2018
2017
2016
2015
2014
$8,811.9
$10,973.8
$11,534.5
$9,721.0
$8,613.4
$9,350.5
$10,451.6
565.8
1,013.5
937.5
662.4
517.8
549.8
617.4
478.2
929.3
850.6
583.8
429.2
458.7
546.3
105.8
223.2
208.8
(37.2)
120.1
142.5
170.0
369.1
701.5
633.7
613.4
304.3
311.5
371.5
65.3
67.9
72.4
73.5
73.1
74.9
78.6
$3,112.8
$3,010.2
$3,285.0
$3,051.3
$2,688.5
$2,554.2
$3,121.1
2,499.8
2,334.9
2,585.9
2,347.6
2,032.5
1,564.5
2,458.3
1,792.2
1,795.2
1,729.9
1,656.3
1,662.2
1,635.5
1,656.4
8,106.8
8,131.1
8,044.9
7,751.0
7,411.3
7,121.6
7,822.4
613.0
675.3
699.1
703.7
656.0
989.7
662.8
6.0
64.9
65.2
92.0
82.5
500.8
93.9
1,638.9
1,523.6
2,138.5
1,809.4
1,846.7
1,427.9
2,208.1
5,122.7
5,214.1
4,679.5
4,699.9
4,179.1
3,942.7
4,127.9
$5.66
$10.34
$8.75
$8.34
$4.16
$4.16
$4.73
$2.50
$2.20
$2.00
$1.80
$1.65
$1.60
$1.40
$80.43
$77.83
$69.83
$64.29
$57.07
$54.59
$53.03
7.4%
15.1%
13.9%
9.8%
7.8%
8.0%
9.6%
5.1
4.5
4.7
4.3
4.1
2.6
4.7
15.8%
21.4%
30.8%
27.2%
30.3%
31.8%
34.9%
31.5%
30.3%
28.4%
28.7%
30.1%
27.2%
25.1%
6.4%
9.2%
8.1%
6.8%
6.0%
5.9%
5.9%
5.4%
8.5%
7.4%
6.0%
5.0%
4.9%
5.2%
4.2%
6.4%
5.5%
6.3%
3.5%
3.3%
3.6%
(5) Return on Reliance stockholders’ equity is based on the beginning of year equity amount, except for 2024, 2023, 2022, 2021, 2020, 2019, 2018 and 2015, which are adjusted for $1.09
billion, $479.5 million, $630.3 million, $323.5 million, $337.3 million, $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.
(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-GAAP 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.
16
DIVISIONS
Bralco Metals
bralco.com
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
affiliatedmetals.com
Salt Lake City, UT
(801) 363-1711
Olympic Metals
A Bralco Metals Company
Denver, CO
(303) 286-9700
Central Plains Steel Co.
cpssteel.com
Wichita, KS
(316) 636-4500
Reliance Aerospace Solutions
rsaerospace.com
Santa Fe Springs, CA
(877) 727-6073
Reliance Metalcenter
reliancephx.com
Phoenix, AZ
(602) 275-4471
Phoenix, AZ – West
(480) 968-6156
reliancemetalcentersaltlakecity.com
Salt Lake City, UT
(801) 974-5300
reliancemetalcentersd.com
San Diego, CA
(619) 263-2141
relianceunioncity.com
Union City, CA
(510) 476-4400
Reliance Steel Company
Albuquerque, NM
(505) 247-1441
Los Angeles, CA
(323) 583-6111
Smith Pipe & Steel Company
smithpipe.com
Phoenix, AZ
(602) 257-9494
Tube Service Co.
tubeservice.com
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
Admiral Metals Servicenter
Company, Incorporated
admiralmetals.com
Woburn, MA – Headquarters
(781) 933-8300
Guilderland, NY
(781) 953-4632
Largo, FL
(614) 330-8645
Rochester, NY
(585) 370-2740
Sparta, NJ
(781) 953-7192
Telford, PA
(215) 778-5832
Twinsburg, OH
(339) 227-1172
All Metal Services Limited
allmetal.co.uk
Birmingham, United Kingdom –
Headquarters
+44 16 7543 0307
Belfast, United Kingdom
+44 28 9073 9648
Bolton, United Kingdom
+44 19 4284 0777
Bristol, United Kingdom
+44 11 7982 2484
Losse, France
+33 558 936 800
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 3 780 5643
American Alloy Steel, Inc.
aasteel.com
Houston, TX – Headquarters
(713) 462-8081
Mobile, AL – Sales
(251) 649-7070
RELIANCE LOCATIONS
17
AMI Metals, Inc.
amimetals.com
Nashville, TN – Headquarters
(615) 377-0400
Fort Worth, TX
(817) 831-9586
Los Angeles, CA
(909) 429-1336
Spokane, WA
(509) 570-5880
St. Louis, MO
(636) 946-9492
Swedesboro, NJ
(856) 241-9180
Wichita, KS
(316) 945-7771
AMI Metals Europe SRL
A Subsidiary of AMI Metals, Inc.
Gosselies, Belgium
+32 71 37 67 99
AMI Metals France SAS
A Subsidiary of AMI Metals, Inc.
Varilhes, France
+33 04 12 11 23 40
AMI Metals UK Limited
Ellesmere Port, United Kingdom
+44 151 355 6035
Best Manufacturing, Inc.
bestmanufacturinginc.com
Jonesboro, AR
(870) 931-9533
Metalcraft Enterprises
metalcraft.com
A Division of Best Manufacturing, Inc.
New Haven, MO
(800) 325-0890
CCC Steel, Inc.
cccsteel.com
Los Angeles, CA
(310) 637-0111
IMS Steel Co.
A Division of CCC Steel, Inc.
Salt Lake City, UT
(801) 973-1000
Chapel Steel Corp.
chapelsteel.com
Philadelphia, PA – Corporate Office
(215) 793-0899
Birmingham, AL
(800) 641-1006
Birmingham, AL – Sales Office
(205) 781-0317
Chicago, IL
(815) 937-1970
Chicago, IL – Sales Office
(708) 429-2244
Houston, TX
(713) 462-4449
Philadelphia, PA
(610) 705-0477
Portland, OR
(503) 228-3355
Tulsa, OK
(844) 964-0335
Chapel Steel Canada, Ltd.
Hamilton, Ontario, Canada
(289) 780-0570
Chatham Steel Corporation
chathamsteel.com
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.
claytonmetals.com
Chicago, IL – Headquarters
(630) 860-7000
Parsipanny, NJ
(973) 588-1100
Continental Alloys & Services
Limited
contalloy.com
Brechin, Scotland
+44 135 662 5515
Peterhead, Scotland
+44 177 948 0420
Continental Alloys & Services Pte.
Ltd.
Jurong, Singapore
+65 6690 0178
Continental Alloys & Services
(Malaysia) Sdn. Bhd.
A Subsidiary of Continental Alloys &
Services Pte. Ltd.
Nusajaya, Malaysia
+60 7 531 9155
Ogden, UT
(866) 328-2905
Rome, NY
(315) 366-9022
St. Gabriel, LA
(225) 642-0200
Tulsa, OK
(918) 227-1081
American Metals Corporation
american-metals.com
Fresno, CA
(559) 266-0881
West Sacramento, CA
(916) 371-7700
Alaska Steel Company
A Division of American Metals Corporation
alaskasteel.com
Anchorage, AK – Headquarters
(907) 561-1188
Fairbanks, AK
(907) 456-2719
Kenai, AK
(907) 283-3880
American Steel
A Division of American Metals Corporation
american-steel.com
Canby, OR
(503) 651-6700
Kent, WA
(253) 437-4080
Haskins Steel Company
A Division of American Metals Corporation
haskinssteel.com
Spokane, WA
(509) 535-0657
Lampros Steel
A Division of American Metals Corporation
lamprossteel.com
Portland, OR
(503) 285-6667
LSI Plate
A Division of American Metals Corporation
Rancho Cucamonga, CA
(877) 877-7528
Plate Sales
A Division of American Metals Corporation
Portland, OR
(503) 286-0039
18
Continental Alloys Middle East FZE
Dubai, United Arab Emirates
+971 4 8809770
Crest Steel Corporation
creststeel.com
Rialto, CA
(909) 429-6900
Riverside, CA
(951) 727-2600
Diamond Manufacturing Company
diamondman.com
Wyoming, PA – Headquarters
(800) 233-9601
Michigan City, IN
(219) 874-2374
Ferguson Perforating Company
A Division of Diamond Manufacturing
Company
fergusonperf.com
Providence, RI – Headquarters
(401) 941-8876
New Castle, PA
(724) 657-8703
McKey Perforating Co.
A Division of Diamond Manufacturing
Company
mckeyperforatedmetal.com
New Berlin, WI
(800) 345-7373
Perforated Metals Plus
A Division of Diamond Manufacturing
Company
perforated-metals.com
Charlotte, NC
(704) 598-0443
DuBose National Energy Fasteners
& Machined Parts, Inc.
dubosenes.com
Cleveland, OH
(216) 362-1700
DuBose National Energy
Services, Inc.
dubosenes.com
Clinton, NC – Headquarters
(910) 590-2151
Atlanta, GA – Sales Office
(678) 608-3660
Charlotte, NC – Sales Office
(704) 295-1060
Exton, PA – Sales Office
(610) 594-9413
Durrett Sheppard Steel Co., Inc.
durrettsheppard.com
Baltimore, MD
(410) 633-6800
Earle M. Jorgensen Company
emjmetals.com
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
Charlotte, NC
(704) 588-3001
Chicago, IL
(847) 301-6100
Cincinnati, OH
(513) 771-3223
Cleveland, OH
(330) 425-1500
Dallas, TX
(214) 741-1761
Denver, CO
(303) 287-0381
Detroit, MI
(734) 402-8110
Hartford, CT
(508) 435-6854
Hayward, CA
(510) 487-2700
Houston, TX
(713) 672-1621
Indianapolis, IN
(317) 838-8899
Kansas City, MO
(816) 483-4140
Lafayette, LA
(713) 672-1621
Memphis, TN
(901) 317-4300
Minneapolis, MN
(763) 784-5000
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) 383-3808
Seattle, WA
(253) 872-0100
St. Louis, MO
(314) 291-6080
Tulsa, OK
(918) 835-1511
Wrightsville, PA
(215) 949-2850
Steel Bar
A Division of Earle M. Jorgensen
Company
steelbar-nc.com
Greensboro, NC
(336) 294-0053
Reliance Metals Canada Limited
A Subsidiary of Earle M. Jorgensen
Company
rmcl.com
Edmonton, Alberta, Canada –
Corporate Office
(780) 801-4114
Earle M. Jorgensen (Canada)
A Division of Reliance Metals Canada
Limited
emjmetals.ca
Edmonton, Alberta, Canada –
Headquarters
(780) 801-4015
Dartmouth, Nova Scotia, Canada
(450) 661-5181
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
Vancouver, British Columbia, Canada
(604) 468-4747
19
Encore Metals
A Division of Reliance Metals Canada
Limited
encoremetals.com
Vancouver, British Columbia, Canada
– Headquarters
(604) 940-0439
Calgary, Alberta, Canada
(403) 236-1418
Edmonton, Alberta, Canada
(780) 436-6660
Montreal, Quebec, Canada
(450) 978-8877
Prince George, British Columbia,
Canada
(250) 563-3343
Toronto, Ontario, Canada
(905) 878-1156
Winnipeg, Manitoba, Canada
(204) 663-1450
Feralloy Corporation
feralloy.com
Chicago, IL – Corporate Office
(773) 380-1500
Charleston, SC
(843) 336-4107
Decatur, AL
(256) 301-0500
Ghent, KY
(502) 206-7002
Portage, IN
(219) 787-9698
Acero Prime Feralloy Sinton
Processing Center
A Division of Feralloy Corporation
Sinton, TX
(361) 364-7220
All Metals
A Division of Feralloy Corporation
allmetals.com
Spartanburg, SC – Headquarters
(864) 574-8050
Cartersville, GA
(770) 427-7379
Allegheny Steel Distributors
A Division of Feralloy Corporation
alleghenysteel.com
Pittsburgh, PA
(412) 767-5000
Feralloy Processing Company
A Division of Feralloy Corporation
Portage, IN
(219) 787-8773
FerrouSouth
A Division of Feralloy Corporation
ferrousouth.com
Iuka, MS
(662) 424-0115
GH Metal Solutions
A Division of Feralloy Corporation
ghmetalsolutions.com
Fort Payne, AL – Headquarters
(256) 845-5411
Decatur, AL
(256) 845-5411
Fort Payne, AL – East
(256) 845-5411
West Columbia, SC
(843) 336-4107
Acero Prime, S. de R.L. de C.V.
A Subsidiary of Feralloy Corporation
aceroprime.com
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
Indiana Pickling and 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.
foxmetals.com
Houston, TX
(281) 890-6666
Fry Steel Company
frysteel.com
Santa Fe Springs, CA – Headquarters
(562) 802-2721
Middletown, OH
(513) 452-7037
Infra-Metals Co.
infra-metals.com
Newtown, PA – Headquarters
(215) 741-1000
Atlanta, GA
(404) 577-5005
Hallandale, FL – Sales Office
(954) 454-1564
Marseilles, IL
(815) 795-5002
New Boston, OH
(740) 353-1350
Petersburg, VA
(804) 957-5900
Tampa, FL
(813) 626-6005
Wallingford, CT
(203) 294-2980
Delta Steel
A Division of Infra-Metals Co.
deltasteel.com
Houston, TX – Headquarters
(713) 635-1200
Cedar Hill, TX
(972) 299-6497
Fort Worth, TX
(817) 293-5015
San Antonio, TX
(210) 661-4641
IMS Ornamental Steel
A Division of Infra-Metals Co.
imsornamental.com
Atlanta, GA
(404) 419-3460
Sugar Steel
A Division of Infra-Metals Co.
sugarsteel.com
Chicago Heights, IL – Headquarters
(708) 757-9500
Evansville, IN
(812) 428-5490
Perrysburg, OH
(419) 661-8500
KMS, Inc.
kmsfab.com
Luzerne, PA
(570) 338-0200
Liebovich Bros., Inc.
liebovich.com
Rockford, IL
(815) 987-3200
20
Custom Fab Company
A Division of Liebovich Bros., Inc.
customfabco.com
Rockford, IL
(815) 987-3210
Good Metals Company
A Division of Liebovich Bros., Inc.
goodmetals.com
Grand Rapids, MI
(616) 241-4425
Hagerty Steel & Aluminum
Company
A Division of Liebovich Bros., Inc.
hagertysteel.com
Peoria, IL
(309) 699-7251
Liebovich Steel & Aluminum
Company
A Division of Liebovich Bros., Inc.
liebovichsteel.com
Rockford, IL – Headquarters
(815) 987-3200
Cedar Rapids, IA
(319) 366-8431
Kaukauna, WI
(800) 646-2790
Metals USA, Inc.
metalsusa.com
Lynch Metals
A Division of Metals USA, Inc.
lynchmetals.com
Union, NJ – Headquarters
(908) 686-8401
Anaheim, CA
(714) 238-7240
Cooksey Iron & Metal Company
A Subsidiary of Metals USA, Inc.
Tifton, GA – Headquarters
(229) 382-4680
Albany, GA
(229) 438-7915
Statesboro, GA – Sales Office
(912) 764-3799
Tifton, GA – Processing
(229) 382-4680
i-Solutions
A Subsidiary of Metals USA, Inc.
isolutions.metalsusa.com
(800) 700-3032
Metals USA Carbon Flat Rolled, Inc.
A Subsidiary of Metals USA, Inc.
Northbrook, IL – Headquarters
(847) 291-2400
Conway Springs, KS
(800) 635-6061
Germantown, WI
(262) 255-4444
Horicon, WI
(920) 485-9750
Jeffersonville, IN
(812) 288-8906
Liberty, MO
(816) 415-0004
Randleman, NC
(336) 498-8900
Springfield, OH
(937) 882-6354
Walker, MI
(616) 453-4880
Wooster, OH
(330) 264-8416
Metals USA Plates and Shapes, Inc.
A Subsidiary of Metals USA, Inc.
Langhorne, PA – Headquarters
(267) 580-2100
Ambridge, PA
(724) 266-7708
Bethlehem, PA – Sales Office
(610) 691-4270
Fairless Hills, PA
(215) 337-7000
Greensboro, NC
(336) 674-7991
Mobile, AL
(251) 456-4531
Oakwood, GA
(770) 536-1214
Philadelphia, PA
(215) 673-9300
Seekonk, MA
(508) 399-8500
Waggaman, LA
(504) 431-7010
York, PA
(717) 757-3549
Gregor Technologies, LLC
A Subsidiary of Metals USA Plates and
Shapes, Inc.
gregortech.com
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
Port City Metal Services
A Division of Metals USA Plates and
Shapes Southcentral, Inc.
portcitymetals.com
Tulsa, OK
(918) 583-2222
The Richardson Trident
Company, LLC
A Subsidiary of Metals USA Plates and
Shapes Southcentral, Inc.
trident-metals.com
Richardson, TX – Headquarters
(972) 231-5176
Houston, TX
(713) 462-2410
Odessa, TX
(432) 561-5446
Tulsa, OK
(918) 252-5781
Altair Electronics, LLC
A Subsidiary of The Richardson Trident
Company, LLC
altair-co.com
Richardson, TX
(972) 231-5176
Metalweb Limited
metalweb.co.uk
Birmingham, United Kingdom –
Headquarters
+44 121 328 7700
London, United Kingdom
+44 199 245 0300
Manchester, United Kingdom
+44 161 483 9662
Mid-West Materials, Inc.
midwestmaterials.com
Perry, OH
(440) 259-5200
National Specialty Alloys, Inc.
nsalloys.com
Houston, TX – Headquarters
(281) 345-2115
Anaheim, CA
(714) 870-7800
21
Aleaciones Especiales de México,
S. de R.L. de C.V.
A Subsidiary of National Specialty Alloys, Inc.
aleacionesespecialesdemexico.com
Cuautitlán, Mexico
+52 55 2225 0835
Northern Illinois Steel Supply Co.
nisteel.com
Channahon, IL – Headquarters
(815) 467-9000
Houston, TX
(800) 892-1601
Nu-Tech Precision Metals Inc.
nutechpm.com
Ottawa, Ontario, Canada
(613) 623-6544
Pacific Metal Company
pacificmetal.com
Portland, OR – Headquarters
(503) 454-1051
Billings, MT
(406) 245-2210
Boise, ID
(208) 323-8045
Eugene, OR
(541) 485-1876
Spokane, WA
(509) 535-0326
PDM Steel Service Centers, Inc.
pdmsteel.com
Elk Grove, CA – Headquarters
(916) 513-4548
Colorado Springs, CO
(719) 390-4911
Fresno, CA
(209) 943-0513
Las Vegas, NV
(702) 413-0067
Provo, UT
(801) 798-8676
Reno, NV
(775) 358-1441
Santa Clara, CA
(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
DBA Phoenix Metals Company
phoenixmetals.com
Peachtree Corners, GA – Headquarters
(770) 447-4211
Arlington, TX
(817) 640-7222
Birmingham, AL
(205) 841-7477
Charlotte, NC
(704) 588-7075
Cincinnati, OH
(513) 727-4763
Cleveland, OH
(513) 727-4763
Fort Smith, AR
(479) 452-3802
Hammond, IN
(513) 727-4763
Kansas City, KS
(913) 321-5200
Katy, TX
(281) 371-5200
Lafayette, LA
(337) 837-4381
Nashville, TN
(931) 486-1456
Philadelphia, PA
(215) 295-9512
Richmond, VA
(804) 222-5052
San Antonio, TX
(210) 661-2301
Sioux City, IA
(913) 321-5200
St. Louis, MO
(636) 379-4050
Tampa, FL
(813) 626-8999
Precision Flamecutting and Steel, Inc.
pflame.com
Houston, TX
(281) 477-1600
Precision Strip Inc.
precision-strip.com
Minster, OH – Headquarters
(419) 628-2343
Anderson, IN
(765) 778-4452
Bowling Green, KY
(270) 282-8420
Canton, MI
(734) 736-7030
Jeffersonville, IN
(812) 850-3161
Kenton, OH
(419) 674-4186
Middletown, OH
(513) 423-4166
Perrysburg, OH
(419) 661-1100
Portage, IN
(219) 850-5080
Rockport, IN
(812) 362-6480
Talladega, AL
(256) 315-2345
Tipp City, OH
(937) 667-6255
Vonore, TN
(423) 271-3690
Woodburn, KY
(270) 542-6100
Woodhaven, MI
(734) 301-4001
Reliance Metalcenter Asia Pacific
Pte. Ltd.
Jurong, Singapore
+65 6265 1211
Service Steel Aerospace Corp.
ssa-corp.com
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.
dynamicmetals.net
Windsor, CT
(860) 688-8393
22
United Alloys Aircraft Metals
A Division of Service Steel Aerospace
Corp.
Los Angeles, CA
(323) 588-2688
Siskin Steel & Supply Company, Inc.
siskin.com
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.
tnsteel.com
Morristown, TN
(423) 587-3500
The Steel Store
A Division of Siskin Steel & Supply
Company, Inc.
thesteelstore.com
Chattanooga, TN
(423) 265-4246
Southern Steel Supply, LLC
A Subsidiary of Siskin Steel &
Supply Company, Inc.
southernsteelsupply.com
Memphis, TN
(901) 523-1170
Tubular Steel, Inc.
tubularsteel.com
St. Louis, MO – Headquarters
(314) 851-9200
Hazelwood, MO
(314) 524-6600
Lorain, OH
(440) 960-6100
United Pipe & Steel Corp.
unitedpipe.com
Ipswich, MA – Headquarters
(800) 777-7473
Belvidere, IL
(267) 642-9014
Birmingham, AL
(205) 854-2300
Burlington, NC
(336) 226-2244
Easton, PA
(610) 559-0990
Elyria, OH
(440) 323-0060
Houston, TX
(713) 869-5731
Lakeland, FL
(863) 614-0674
Rialto, CA
(909) 441-1924
Seymour, IN
(713) 869-5796
Stockton, CA
(209) 467-7473
Topeka, KS
(785) 357-0612
Valex Corp.
valex.com
Ventura, CA – Headquarters
(805) 658-0944
Round Rock, TX
(512) 212-8100
Valex Korea Co., Ltd.
A 96% Owned Subsidiary of Valex Corp.
Seoul, Republic of Korea
+82 31 683 0119
Valex Semiconductor Materials
(Zhejiang) Co., Ltd.
A Subsidiary of Valex Corp.
Haiyan Economic Development Zone,
People’s Republic of China
+86 21 5818 3189
Viking Materials, Inc.
vikingmaterials.com
Minneapolis, MN – Headquarters
(612) 617-5800
Franklin Park, IL
(847) 451-7171
Yarde Metals, Inc.
yarde.com
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
Sanford, FL
(321) 257-7631
FastMetals
A Division of Yarde Metals, Inc.
fastmetals.com
Southington, CT
(833) 327-8685
Rotax Metals
A Division of Yarde Metals, Inc.
rotaxmetals.net
Brooklyn, NY
(718) 272-9800
(1) Independent Director (2) Member of the Audit Committee (3) Member of the Compensation Committee (4) Member of the Nominating and Governance Committee
After many years as a supplier, Mark V. Kaminski was appointed an Independent Director
of Reliance in 2004 and served as our non-executive Chairman of the Board from 2016
through 2024. For over 20 years on the board, Mark has shared his industry expertise and
helped guide Reliance through both challenging periods and years of significant growth.
We thank Mark for his almost five decades of service and dedication to Reliance and wish
him the best in his retirement.
23
DIRECTORS
Douglas W. Stotlar (1), (4)
Chair of the Board
Former President and Chief Executive Officer
Con-way, Inc.
Lisa L. Baldwin (1), (2), (4)
Managing Director
Elliott Management Corporation
Karen W. Colonias (1), (2), (3)
Former President and Chief Executive Officer
Simpson Manufacturing Co., Inc.
Frank J. Dellaquila (1), (2)
Former Senior Executive Vice President and
Chief Financial Officer
Emerson Electric Co.
Mark V. Kaminski (1), (2)
Executive Advisor
Graniterock
James K. Kamsickas (1), (2), (3)
Former Chairman and Chief Executive Officer
Dana Incorporated
Karla R. Lewis
President and Chief Executive Officer
Reliance, Inc.
Robert A. McEvoy (1), (3), (4)
Former Managing Director
The Goldman Sachs Group, Inc.
David W. Seeger (1), (3), (4)
Former President
Zekelman Industries (formerly JMC Steel Group)
OFFICERS
Karla R. Lewis
President and Chief Executive Officer
Stephen P. Koch
Executive Vice President, Chief Operating Officer
Arthur Ajemyan
Senior Vice President, Chief Financial Officer
Jeffrey W. Durham
Senior Vice President, Operations
Michael R. Hynes
Senior Vice President, Operations
Brenda S. Miyamoto
Senior Vice President, Strategic Planning
and Programs
William A. Smith II
Senior Vice President, General Counsel
and Corporate Secretary
Vandy C. Lupton
Vice President, Health and Human Resources
Scott W. Ramsbottom
Vice President, Chief Information Officer
John A. Shatkus
Vice President, Enterprise Risk
Brian M. Yamaguchi
Vice President, Supplier Development
Silva Yeghyayan
Vice President, Tax
CORPORATE DIRECTORY
24
TRANSFER AGENT & REGISTRAR
Equiniti Trust Company, LLC
55 Challenger Road, Floor 2
Ridgefield Park, NJ 07660
(800) 937-5449
equiniti.com
INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
KPMG LLP
Los Angeles, CA
RELIANCE, INC.
PRINCIPAL EXECUTIVE OFFICE
16100 N. 71st Street, Suite 400
Scottsdale, AZ 85254
(480) 564-5700
reliance.com
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 sec.gov
or investor.reliance.com or upon request to:
William A. Smith II
Senior Vice President, General Counsel
and Corporate Secretary
Reliance, Inc.
16100 N. 71st Street, Suite 400
Scottsdale, AZ 85254
INVESTOR RELATIONS CONTACT
(213) 576-2428
investor@reliance.com
SECURITIES LISTING
Reliance, Inc.’s common stock is traded on the New York
Stock Exchange under the symbol “RS.”
MARKET PRICE OF COMMON STOCK
The high and low closing prices for the Company’s common
stock in 2024 were $340.04 and $264.20.
The following table sets forth the high and low closing
prices of the Company’s common stock for the stated
calendar quarters.
2024
HIGH
LOW
1Q
$336.90 $275.61
2Q
$340.04 $277.09
3Q
$308.75 $271.23
4Q
$326.32 $264.20
STOCKHOLDERS OF RECORD AND DIVIDEND POLICY
As of February 21, 2025, there were 161 holders of record of
our common stock. We have paid quarterly cash dividends
on our common stock for 65 consecutive years. Our Board
of Directors has increased the quarterly dividend rate on a
periodic basis 32 times since our 1994 IPO.
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 2024 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.
CORPORATE INFORMATION
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