Reliance Sees Record Shipment Levels in Q1
By
Metal Center News Staff on
Apr 29, 2025
Reliance Inc., Scottsdale, Ariz., reported stronger first-quarter results than anticipated on better-than-expected shipment levels and gross profit margin. The company sold a record 1.63 million tons in the quarter, a 9 percent increase from the first quarter of 2024.
On a same-store basis, Reliance's sales were up 5.6 percent.
Reliance cited solid organic growth and the company's ability to access material given some customers' acceleration of metal purchases in advance of anticipated carbon steel and aluminum price increases.
Reliance’s average selling price per ton sold decreased slightly compared with the fourth quarter of 2024 mainly due to product mix through a significant increase in carbon steel shipments. A dynamic trade environment supported pricing improvements in March that continued into April.
“We delivered stronger-than-expected results in the first quarter due to our targeted focus on smart, profitable growth, once again demonstrating the resilience of our proven business model and ability of our teams to provide solutions to our customers in a backdrop of significant market uncertainty,” said Karla Lewis, president and CEO. "Despite ongoing uncertainty in both domestic and international economic policy, we are encouraged by the positive pricing momentum and continuing stable demand conditions, most notably in our nonresidential construction market."
Reliance's net sales were up 11.6 percent to $3.5 billion in the quarter. Net income increased 89.6 percent to $199.7 million.
Reliance executives anticipate demand for its products across the broader manufacturing sector will remain relatively stable in the second quarter, subject to trade policy action.