Reliance Steel Sales Up 3.6% in 1Q - Modern Distribution Management

Log In

Reliance Steel Sales Up 3.6% in 1Q

Reliance Steel &Aluminum Co., Los Angeles, CA, reported sales in the first quarter 2008 were $1.91 billion, an increase of 3.6% from the prior-year period. Profit was $107.4 million, down slightly from $111.7 million last year.
 
David H. Hannah, CEO of Reliance said: The 2008 first quarter turned out well. Pricing for our products was strong with significant increases in carbon steel, leading to improved gross profit margins. Demand in the markets that we serve remained fairly healthy, especially in the non-residential construction, energy, oil and gas, and aerospace industries."
 
Hannah said Reliance expects prices to be up or flat for most of the metals it sells in the second quarter. "Demand remains more difficult to predict," he said.
 
Reliance is a ...
Author
Date

Reliance Steel &Aluminum Co., Los Angeles, CA, reported sales in the first quarter 2008 were $1.91 billion, an increase of 3.6% from the prior-year period. Profit was $107.4 million, down slightly from $111.7 million last year.
 
David H. Hannah, CEO of Reliance said: The 2008 first quarter turned out well. Pricing for our products was strong with significant increases in carbon steel, leading to improved gross profit margins. Demand in the markets that we serve remained fairly healthy, especially in the non-residential construction, energy, oil and gas, and aerospace industries.”
 
Hannah said Reliance expects prices to be up or flat for most of the metals it sells in the second quarter. “Demand remains more difficult to predict,” he said.
 
Reliance is a metals service center with a network of more than 180 locations in 37 states and Belgium, Canada, China, South Korea and the United Kingdom. The company distributes products that include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.