Reliance, Inc. (NYSE: RS)

Reliance, Inc. operates as a leading metals service center company, specializing in the processing and distribution of metal products. The company serves a broad range of industries, including construction, automotive, aerospace, and manufacturing, by providing high-quality metal products and value-added services. Reliance, Inc. focuses on the distribution of aluminum and steel, which are highly recyclable materials, supporting circular manufacturing practices. The company's operations are centered around the procurement, processing, and delivery of metal products to meet the specific needs of its diverse customer base.

Reliance, Inc. generates revenue through the sale of processed metal products, including aluminum and steel, to various industries. The company's primary products include a wide range of metal materials such as carbon steel, stainless steel, aluminum, and specialty alloys. These products are distributed to customers in the construction, automotive, aerospace, and manufacturing sectors. Reliance, Inc. also offers value-added services such as cutting, forming, and finishing to meet the specific requirements of its clients. The company's revenue is driven by the demand for high-quality metal products and the ability to provide efficient and reliable distribution services.

• Metals Service Centers: Reliance, Inc. operates a network of metals service centers that process and distribute metal products to various industries. The company's service centers offer a wide range of metal materials, including carbon steel, stainless steel, aluminum, and specialty alloys. These centers cater to industries such as construction, automotive, aerospace, and manufacturing, providing high-quality metal products and value-added services. The company's service centers are strategically located to serve key markets and ensure efficient distribution to customers.

Reliance, Inc. holds a significant position within the metals service center industry, with a strong competitive advantage derived from its extensive network of service centers and value-added services. The company competes with other metals distributors and mills, leveraging its size, long-term relationships with suppliers, and high-quality products to maintain a competitive edge. Reliance, Inc. also benefits from its ability to offer state-of-the-art equipment and advanced technology, which distinguishes it from competitors. The company's focus on small order sizes with quick turnaround times further enhances its competitive position in the market.

Reliance, Inc. serves a diverse customer base, including large original equipment manufacturers and small machine shops and fabricators. The company's metals service centers wrote and delivered over 4.6 million orders during 2025, with an average price of approximately $3,120 per order. Most of the company's customers are located within 200 miles of the Reliance location supporting them, ensuring efficient routing and quick delivery. The proximity of the service centers to customers helps reduce total road miles and promotes efficient logistics. Reliance, Inc. maintains a fleet of approximately 1,800 trucks, which are mostly leased, to deliver the majority of its sales orders. The company's order entry systems and flexible production scheduling enable it to meet customer requirements for short lead times and quick delivery. Reliance, Inc. believes that providing high levels of customer service and maintaining long-term relationships with its customers significantly contributes to its success. In 2025, over 90% of the sales orders serviced were from repeat customers, demonstrating the high level of customer satisfaction and loyalty.