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AI brief of an SEC Form 8-K · Reliance (RS)

Reliance Q3 diluted EPS falls 27.7% to $3.61; Q4 outlook $2.65 to $2.85

Negative Impact 4 of 5 earnings Written later

Reliance reported third-quarter 2024 net sales of $3.42 billion, down 5.6% from a year earlier, and diluted EPS of $3.61 versus $4.99 in Q3 2023. The company expects non-GAAP EPS of $2.65 to $2.85 for Q4 2024 and says demand will weaken temporarily, which points to lower earnings for shareholders in the near term.

Key points

  • Net sales $3.42 billion vs. $3.62 billion in Q3 2023; tons sold up 7.1%, while average selling price per ton fell 12.0%
  • Diluted EPS $3.61 vs. $4.99; non-GAAP diluted EPS $3.64 vs. $5.00
  • Q4 2024 guidance: non-GAAP EPS of $2.65 to $2.85; tons sold expected down 6.0% to 8.0% from Q3 2024
  • Board declared a $1.10 quarterly dividend payable December 6, 2024; repurchase authorization replenished to $1.5 billion

The filing

CompanyReliance (RS)
Form8-K, current report
Filed with the SECOct 24, 2024, 6:55 AM ET
Accession number0001171843-24-005798

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 24, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.