Reliance, Inc. reported its financial results for the third quarter and nine months ended September 30, 2025, revealing a net sales increase to $3,651.2 million for the quarter, up from $3,420.3 million in the same period last year. For the nine-month period, net sales reached $10,795.7 million, slightly higher than $10,708.4 million in 2024. However, net income attributable to Reliance decreased to $189.5 million for the third quarter, down from $199.2 million, and for the nine months, it fell to $622.9 million from $769.9 million in the prior year. The diluted earnings per share for the third quarter were $3.59, compared to $3.61 in 2024.
The company's operating income also saw a decline, with $259.8 million reported for the third quarter, down from $273.4 million, and $846.4 million for the nine months, compared to $1,018.2 million in the previous year. The decrease in profitability was attributed to lower gross profit margins, which fell to 28.3% for the third quarter and 29.2% for the nine months, down from 29.4% and 30.1%, respectively. This decline was primarily due to increased costs and inflationary pressures impacting selling, general, and administrative expenses, which rose to $701.3 million for the quarter.
In terms of operational metrics, Reliance reported a 6.2% increase in tons sold during the third quarter, achieving record levels despite a broader industry decline of 2.9%. The company attributed this growth to its scale, diverse product offerings, and strong customer service. The total employee headcount remained stable, supporting the increased operational demands. Reliance's strategic focus on enhancing its product and geographic diversification through acquisitions in 2024 contributed to its revenue growth, with combined net sales from these acquisitions amounting to $294.3 million for the nine months ended September 30, 2025.
Looking ahead, Reliance anticipates continued challenges due to fluctuating metals prices and ongoing trade policy uncertainties. The company has indicated that it will focus on maintaining its market share and operational efficiency while managing costs. Reliance's liquidity position remains strong, with $261.2 million in cash and cash equivalents and a net debt-to-total capital ratio of 13.3% as of September 30, 2025. The company plans to continue its share repurchase program and has declared a quarterly dividend of $1.20 per share, reflecting its commitment to returning value to shareholders.
About RELIANCE, INC.
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