Despite tumultuous economic conditions, Reliance continues to grow
Reliance Steel & Aluminum Co. (Reliance) continues to benefit from its scale, enabling it to endure difficult conditions while holding onto inventory until prices rise. This has helped them to acquire an increasing portion of the struggling competition, cementing its place at the top. The company's resilience in the recent period has helped it become a profitable investment among shareholders as its stock has grown 133.0% over the last five years as of December 2022. Increasing demand among key downstream markets has contributed to its healthy performance.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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