Reliance Steel & Aluminum Sales Up 8% in 2Q - Modern Distribution Management

Reliance Steel & Aluminum Sales Up 8% in 2Q

The growth occurred despite a 2 percent decrease in price per ton.

Reliance Steel & Aluminum Co. (NYSE: RS), Los Angeles, CA, reported sales of $2.21 billion for the second quarter, up 8 percent from prior-year levels. Profit rose 10 percent to $108.8 million.

\"TheDownload a Free Chapter:
The Little Black Book of Strategic Planning for Distributors

Submit your email address below to receive a chapter of Brent Grover’s new book. When you submit your email you will be signed up to receive weekly distribution news updates.

\"\"

Tons sold were up 10 percent versus the prior-year quarter and the average price per ton sold was 2 percent below 2011 levels. Carbon steel sales made up 52 percent of net sales; aluminum sales were 15 percent; stainless steel sales were 15 percent; alloy sales were 11 percent; toll processing sales were 2 percent; and other sales were 5 percent.

For the first six months of 2012, sales for Reliance were $4.5 billion, 13.5 percent above the prior-year period. Profit rose 17.8 percent to $225 million.

“Underlying demand slowed slightly from the 2012 first quarter, but still represents solid improvement when compared to the 2011 periods,” David H. Hannah, chairman and CEO, said. “The declines in the costs of our products were supply, not demand, driven, as underlying cost inputs at the producer level decreased, imports were plentiful, and domestic overcapacity persisted.”

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.