RELIANCE STEEL & ALUMINUM Reveals FY2022 Q4 Earnings Results for December 31, 2022 on February 16, 2023
March 2, 2023
Earnings report
RELIANCE STEEL & ALUMINUM ($NYSE:RS) recently released their FY2022 Q4 earnings results as of December 31, 2022, on February 16, 2023. The company reported a total revenue of USD 350.5 million, a decrease of 16.8% from the year before.
Additionally, net income was reported to be USD 3610.8 million, representing a decline of 9.5% from the previous year. Despite the decrease in earnings from the previous year, RELIANCE STEEL & ALUMINUM still managed to remain profitable and demonstrate financial stability in their earnings report. The company is confident that their new strategies and plans to enhance their supply chain management and increase their efficiency will result in an upsurge in revenues. Overall, RELIANCE STEEL & ALUMINUM’s FY2022 Q4 earnings reveal that the company is in a strong position that will hopefully lead to further success in the coming years. They will continue to take necessary steps to ensure that they remain competitive and profitable in the long run.
Market Price
The stock opened at $240.9 and closed at $243.1, showing an increase of 4.1%. This indicates a positive market response to the earnings results of the company. Investors were quick to assess the financials of the company and reacted favorably, pushing the stock price higher. As a result of this surge, the stock gained significant value in one day and demonstrated that the market is optimistic about its future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for RS. More…
| Total Revenues | Net Income | Net Margin |
| 17.02k | 1.84k | 10.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for RS. More…
| Operations | Investing | Financing |
| 2.12k | -348.5 | -892.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for RS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.33k | 3.23k | 116 |
Key Ratios Snapshot
Some of the financial key ratios for RS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.8% | 35.8% | 14.6% |
| FCF Margin | ROE | ROA |
| 10.4% | 22.4% | 15.1% |
Analysis
At GoodWhale, we help investors like you make smart decisions by providing an in-depth analysis of RELIANCE STEEL & ALUMINUM’s fundamentals. In our Risk Rating, we assign RELIANCE STEEL & ALUMINUM a low risk investment rating in terms of financial and business aspects. But that doesn’t mean you can ignore potential risks. With GoodWhale, you can take a closer look at RELIANCE STEEL & ALUMINUM’s business and financial areas to identify potential risks more accurately. Register with us to find out more about the company’s risk profile, so you can make the best possible investment decision. More…
Peers
Reliance Steel & Aluminum Co., Universal Stainless & Alloy Products Inc., Jiangsu Shagang Co Ltd, and Xinjiang Ba Yi Iron & Steel Co Ltd are all steel and aluminum companies. They all have their own unique offerings, but they compete with each other in the market.
– Universal Stainless & Alloy Products Inc ($NASDAQ:USAP)
Universal Stainless & Alloy Products Inc is a company that manufactures and sells stainless steel and nickel alloy mill products. The company has a market cap of 65.99M as of 2022 and a Return on Equity of -1.12%. Universal Stainless & Alloy Products Inc is a publicly traded company on the NASDAQ Stock Market under the ticker symbol “USAP”.
– Jiangsu Shagang Co Ltd ($SZSE:002075)
Jiangsu Shagang Co., Ltd. is a Chinese state-owned steel producer. The company is based in Zhangjiagang, Jiangsu Province, and is listed on the Shanghai Stock Exchange. Jiangsu Shagang is one of the largest private steel companies in China, with an annual output of over 20 million tons of steel. The company produces a wide range of steel products, including hot and cold rolled coils, galvanized sheets, and stainless steel products. In addition to its steel operations, Jiangsu Shagang also has businesses in coal mining, power generation, and real estate development.
– Xinjiang Ba Yi Iron & Steel Co Ltd ($SHSE:600581)
Xinjiang Ba Yi Iron & Steel Co Ltd has a market cap of 5.58B as of 2022, a Return on Equity of -24.16%. The company is engaged in the production and sale of iron and steel products. It is one of the largest iron and steel companies in China. The company’s products are used in a variety of industries, including construction, automotive, machinery manufacturing, and shipbuilding.
Summary
Reliance Steel & Aluminum reported its fourth quarter financial results with a total revenue of USD 350.5 million, a decrease of 16.8% compared to the same period last year. The company’s net income also decreased by 9.5% to USD 3610.8 million. Despite this, the stock price of Reliance Steel & Aluminum moved up on the same day, which may indicate that investors believe the company has potential for future growth. This is a positive sign for the company and investors should consider the stock as a potential investment.
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