Reliance, Inc. to Ring the Closing Bell at the New York Stock Exchange to Commemorate its 30th Anniversary as a Public Company
September 12 2024 - 6:50AM
Reliance, Inc. (NYSE: RS) announced that Karla Lewis, President and
Chief Executive Officer, will ring the closing bell at the New York
Stock Exchange (“NYSE”) on Thursday, September 19, 2024, to
commemorate the Company’s 30th anniversary as a listed company.
Reliance corporate officers will also participate in the ceremony.
Live coverage of the event will begin on Thursday, September 19,
2024, at 3:55 p.m. ET and will be available for streaming
at https://www.NYSE.com/bell.
“It is an honor to ring the NYSE closing bell in celebration of
our 30th anniversary as a publicly traded company and 85 years in
business,” commented Mrs. Lewis. “I want to express my gratitude to
each member of our dedicated team across the entire Reliance family
of companies for their invaluable contributions to Reliance’s
collective success over the years. Throughout our history, we have
remained committed to providing diversified metals solutions and
ever-increasing value to our customers, a safe environment for our
employees and, ultimately, strong returns to our stockholders.
Looking ahead, I remain excited about Reliance’s future as we
continue to execute and improve upon our unique and resilient
business model.”
Since its initial public offering (IPO) and debut on the NYSE at
$14.50 per share ($3.22 split adjusted) on September 14, 1994,
Reliance has grown from approximately $450 million in annual sales
to the largest metals service center company in North America
surpassing $14.8 billion in annual sales in 2023. Thirty years
after the IPO, shares of Reliance closed at $272.22 on September
11, 2024, which, together with quarterly dividends, has resulted in
a total compound annual growth rate of approximately 17.1%.
Reliance’s compounded annual stockholder returns have outpaced the
S&P 500 since the 1994 IPO.
About Reliance, Inc.Founded in 1939, Reliance,
Inc. (NYSE: RS) is a leading global diversified metal solutions
provider and the largest metals service center company in North
America. Through a network of more than 320 locations in 41 states
and 12 countries outside of the United States, Reliance provides
value-added metals processing services and distributes a full-line
of over 100,000 metal products to more than 125,000 customers in a
broad range of industries. Reliance focuses on small orders with
quick turnaround and value-added processing services. In 2023,
Reliance’s average order size was $3,210, approximately 51% of
orders included value-added processing and approximately 40% of
orders were delivered within 24 hours. Reliance, Inc.’s press
releases and additional information are available on the Company’s
website at reliance.com.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by words such as “expect,”
“anticipate,” “believe,” and similar words and may include
statements concerning Reliance’s future performance.
Forward-looking statements involve known and unknown risks and
uncertainties and are not guarantees of future performance. Actual
outcomes and results may differ materially from these
forward-looking statements as a result of various important
factors, including, but not limited to, those disclosed in reports
Reliance has filed with the United States Securities and Exchange
Commission (the “SEC”). These forward-looking statements are based
on management's expectations and assumptions as of today’s date and
Reliance disclaims any obligation to publicly update or revise any
forward-looking statements. Important risks and uncertainties about
Reliance’s business can be found in “Item 1A. Risk Factors” of the
Company’s Annual Report on Form 10-K for the year ended December
31, 2023 filed with the SEC.
CONTACT: (213) 576-2428investor@reliance.com
or Addo Investor Relations(310) 829-5400
Reliance (NYSE:RS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Reliance (NYSE:RS)
Historical Stock Chart
From Sep 2023 to Sep 2024