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Reliance Steel

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BUSINESS
February 22, 2008 | From Times Wire Services
Metals processor and distributor Reliance Steel & Aluminum Co. said its fourth-quarter profit rose, helped by an improved pricing environment. Net income was $79.9 million, or $1.06 a share, compared with $74.6 million, or 98 cents, in the same quarter of 2006, the Los Angeles firm said. Revenue rose 9% to $1.71 billion.
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BUSINESS
December 16, 2013
The company: Reliance Steel & Aluminum Co. Headquarters: Los Angeles Ticker: RS Employees: 14,000 Leadership: David Hannah, chief executive since 1999 2012 revenue: $8.4 billion 2012 net income: $404 million Stock price: $72.34 at Friday's close 52-week range: $59.16 to $76.78 P/E ratio: 17, based on estimated 2013 earnings Quarterly dividend: 33 cents, a current yield of 1.8%
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BUSINESS
June 25, 2008 | From Times Staff and Wire Services
Reliance Steel & Aluminum Co., the largest U.S. metals distributor, boosted its second-quarter earnings forecast as carbon-steel prices advanced. The Los Angeles company raised its forecast to $2 to $2.10 a share from $1.50 to $1.60 as prices for carbon-steel products "increased more significantly and more rapidly than we had anticipated," Chief Executive David H. Hannah said.
BUSINESS
December 16, 2013 | By Stuart Pfeifer
You've probably never heard of Reliance Steel & Aluminum Co. And that's a little bit frustrating to David Hannah, who has guided the Los Angeles company to staggering growth since he was named its chief executive 14 years ago. "It seems in Southern California if you aren't in media or entertainment, you don't get noticed," he said. Reliance's business model isn't exactly sexy. The metal service center company buys bulk metal from steel mills, processes it and sells it to machine shops and other businesses.
BUSINESS
January 18, 2006 | Bill Sing and Tom Petruno, Times Staff Writers
Los Angeles-based Reliance Steel & Aluminum Co. agreed to acquire Lynwood-based Earle M. Jorgensen Co. for $13 a share, or about $934 million, Reliance announced late Tuesday. The planned merger would bring together two Southland companies capitalizing on growing global demand for steel and other metal products. Reliance is one of the nation's largest metal processing companies, while Jorgensen is one of the largest distributors of metal products in North America.
BUSINESS
October 9, 1997 | Bloomberg News
Los Angeles-based Reliance Steel & Aluminum Co. said it agreed to buy closely held metal service center operator Phoenix Metals Co. for an undisclosed price to boost its operations in the Southeast. Atlanta-based Phoenix Metals could have fetched as much as $70 million, said Smith Barney Inc. analysts Charles Bradford and Yvonne Valera in a report. The company has annual sales of $120 million. Reliance Steel is buying up companies amid a rapid consolidation of metal processors and distributors.
BUSINESS
August 8, 2002 | Bloomberg News
Reliance Steel & Aluminum Co., the fourth-biggest U.S. metals distributor, agreed to buy two distribution units from bankrupt Metals USA Inc. to expand in Western and Midwestern states. Terms weren't disclosed. Reliance will acquire Portland, Ore.-based USA Specialty Metals Northwest Inc., which distributes aluminum and steel and also has divisions in Washington, Montana and Idaho. Reliance also will buy Milwaukee-based Metals USA Plates and Shapes Northcentral Inc.
BUSINESS
February 16, 2007 | From Bloomberg News
Reliance Steel & Aluminum Co., a metal-products distributor, said that fourth-quarter earnings rose 23% with help from acquisitions and predicted that 2007 profit would top last year's record. Net income rose to $74.6 million, or 98 cents a share, from $60.6 million, or 91 cents, a year earlier, Los Angeles-based Reliance Steel said. Revenue in the quarter surged 81% to $1.57 billion. Profit still trailed analysts' estimates. Wall Street, on average, expected Reliance to make $1.
BUSINESS
February 20, 2009 | Times Wire Reports
Reliance Steel & Aluminum Co. reported fourth-quarter profit that surpassed analysts' expectations. The Los Angeles company said profit fell to $66.3 million, or 90 cents a share, from $79.9 million, or $1.06, a year earlier. The average estimate of seven analysts surveyed by Bloomberg was 64 cents a share, excluding some items. Revenue rose 26% to $2.14 billion. Reliance shares rose $4.17, or 20%, to $25.14.
BUSINESS
October 17, 2008 | From the Associated Press
Reliance Steel & Aluminum Co.'s third-quarter earnings climbed 63% partly because of gains from an acquisition, the Los Angeles company said. Net income increased to $152.5 million, or $2.07 a share, compared with $93.6 million, or $1.22, a year earlier. Quarterly sales jumped to a record $2.57 billion from $1.81 billion last year. Shares of Reliance gained $3.28 to $25.66.
BUSINESS
June 25, 2008 | From Times Staff and Wire Services
Reliance Steel & Aluminum Co., the largest U.S. metals distributor, boosted its second-quarter earnings forecast as carbon-steel prices advanced. The Los Angeles company raised its forecast to $2 to $2.10 a share from $1.50 to $1.60 as prices for carbon-steel products "increased more significantly and more rapidly than we had anticipated," Chief Executive David H. Hannah said.
BUSINESS
October 19, 2007 | From Times Wire Services
Metals processor and distributor Reliance Steel & Aluminum Co. said its third-quarter profit slipped 13% because of softer demand for some products and declines in stainless-steel prices. Net income was $93.6 million, or $1.22 a share, compared with $107.5 million, or $1.41, a year earlier, the Los Angeles-based company said. Revenue rose 11% to $1.81 billion. The earnings came in below the average forecast of analysts of $1.34 a share, according to data compiled by Reuters Estimates.
BUSINESS
February 16, 2007 | From Bloomberg News
Reliance Steel & Aluminum Co., a metal-products distributor, said that fourth-quarter earnings rose 23% with help from acquisitions and predicted that 2007 profit would top last year's record. Net income rose to $74.6 million, or 98 cents a share, from $60.6 million, or 91 cents, a year earlier, Los Angeles-based Reliance Steel said. Revenue in the quarter surged 81% to $1.57 billion. Profit still trailed analysts' estimates. Wall Street, on average, expected Reliance to make $1.
BUSINESS
July 12, 2006 | From Bloomberg News
Reliance Steel & Aluminum Co. agreed to buy Yarde Metals Inc., which processes and distributes stainless-steel and aluminum-plate products, to increase sales in the Northeast. Yarde Metals had sales of $385 million in the year ended June, Los Angeles-based Reliance said. Reliance said it expected the transaction to be completed within 60 days. The purchase price wasn't disclosed.
BUSINESS
January 18, 2006 | Bill Sing and Tom Petruno, Times Staff Writers
Los Angeles-based Reliance Steel & Aluminum Co. agreed to acquire Lynwood-based Earle M. Jorgensen Co. for $13 a share, or about $934 million, Reliance announced late Tuesday. The planned merger would bring together two Southland companies capitalizing on growing global demand for steel and other metal products. Reliance is one of the nation's largest metal processing companies, while Jorgensen is one of the largest distributors of metal products in North America.
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