Reliance 2Q Profit Doubles

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Reliance Steel & Aluminum Co. reported second quarter net income of $100 million ($2.65 per share), nearly double the $49 million ($1.48 a share) for the same period a year earlier. Revenues for the Los Angeles-based metal products distribution company surged 91 percent, to $1.56 billion.


Steady increases in the price of and demand for domestically produced steel products have helped Reliance, which is one of the largest steel companies in North America. Also helping were the revenues from the acquisitions of Earl M. Jorgenson Steel in April and Chapel Steel this month hitting the books for this quarter.


Reliance has a network of more than 150 locations in 37 states as well as Belgium, Canada, China and South Korea.

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