$RS
RELIANCE, INC.

2019 Q4 Form 10-Q Financial Statement

#000155837019009551 Filed on October 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $2.448B $2.686B $2.975B
YoY Change -13.01% -9.7% 21.4%
Cost Of Revenue $1.654B $1.871B $2.140B
YoY Change -21.41% -12.57% 21.29%
Gross Profit $794.2M $814.7M $834.3M
YoY Change 11.89% -2.35% 21.71%
Gross Profit Margin 32.45% 30.33% 28.05%
Selling, General & Admin $513.2M $518.7M $531.0M
YoY Change 1.52% -2.32% 12.98%
% of Gross Profit 64.62% 63.67% 63.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $56.10M $54.80M $53.40M
YoY Change 5.06% 2.62% -1.11%
% of Gross Profit 7.06% 6.73% 6.4%
Operating Expenses $569.3M $518.7M $531.0M
YoY Change 1.86% -2.32% 1.34%
Operating Profit $224.9M $241.2M $214.4M
YoY Change 49.04% 12.5% 32.76%
Interest Expense -$16.60M $20.50M $22.00M
YoY Change -29.66% -6.82% -215.18%
% of Operating Profit -7.38% 8.5% 10.26%
Other Income/Expense, Net $1.300M -$2.300M $2.500M
YoY Change -168.42% -192.0% -3.85%
Pretax Income $209.6M $218.4M $194.9M
YoY Change 69.17% 12.06% 37.06%
Income Tax $43.30M $54.50M $44.60M
% Of Pretax Income 20.66% 24.95% 22.88%
Net Earnings $166.3M $163.9M $150.3M
YoY Change 90.49% 9.05% 54.47%
Net Earnings / Revenue 6.79% 6.1% 5.05%
Basic Earnings Per Share $2.48 $2.44 $2.06
Diluted Earnings Per Share $2.44 $2.40 $2.03
COMMON SHARES
Basic Shares Outstanding 66.66M 66.66M 71.94M
Diluted Shares Outstanding 67.70M 72.98M

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $174.3M $166.0M $112.1M
YoY Change 35.96% 48.08% -34.14%
Cash & Equivalents $174.3M $166.0M $112.1M
Short-Term Investments
Other Short-Term Assets $85.20M $69.60M $71.00M
YoY Change 4.54% -1.97% 17.55%
Inventory $1.646B $1.670B $2.084B
Prepaid Expenses
Receivables $1.068B $1.251B $1.426B
Other Receivables $37.20M $9.000M $0.00
Total Short-Term Assets $3.010B $3.165B $3.693B
YoY Change -8.37% -14.29% 16.52%
LONG-TERM ASSETS
Property, Plant & Equipment $1.795B $1.776B $1.681B
YoY Change 3.77% 5.61% 1.84%
Goodwill $2.004B $1.873B
YoY Change 7.11%
Intangibles $1.031B $1.041B
YoY Change -3.82%
Long-Term Investments
YoY Change
Other Assets $89.30M $77.70M $80.80M
YoY Change 2.41% -3.84% 6.46%
Total Long-Term Assets $5.121B $4.966B $4.680B
YoY Change 7.58% 6.11% 0.05%
TOTAL ASSETS
Total Short-Term Assets $3.010B $3.165B $3.693B
Total Long-Term Assets $5.121B $4.966B $4.680B
Total Assets $8.131B $8.131B $8.373B
YoY Change 1.07% -2.89% 6.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $275.0M $385.9M $461.2M
YoY Change -18.83% -16.33% 13.26%
Accrued Expenses $67.40M $94.40M $287.1M
YoY Change -12.92% -67.12% 4.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $64.90M $65.20M $89.10M
YoY Change -0.46% -26.82% 11.79%
Total Short-Term Liabilities $675.3M $788.5M $840.0M
YoY Change -3.4% -6.13% 7.53%
LONG-TERM LIABILITIES
Long-Term Debt $1.524B $1.578B $1.981B
YoY Change -28.75% -20.34% 4.49%
Other Long-Term Liabilities $12.30M $14.00M $90.80M
YoY Change -22.64% -84.58% -8.47%
Total Long-Term Liabilities $1.536B $1.592B $2.072B
YoY Change -28.71% -23.15% 3.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $675.3M $788.5M $840.0M
Total Long-Term Liabilities $1.536B $1.592B $2.072B
Total Liabilities $2.211B $2.381B $3.377B
YoY Change -22.51% -29.5% -1.6%
SHAREHOLDERS EQUITY
Retained Earnings $5.190B $5.062B
YoY Change 11.89%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.207B $5.073B $4.996B
YoY Change
Total Liabilities & Shareholders Equity $8.131B $8.131B $8.373B
YoY Change 1.07% -2.89% 6.7%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $166.3M $163.9M $150.3M
YoY Change 90.49% 9.05% 54.47%
Depreciation, Depletion And Amortization $56.10M $54.80M $53.40M
YoY Change 5.06% 2.62% -1.11%
Cash From Operating Activities $347.4M $490.9M $136.3M
YoY Change -19.45% 260.16% -25.56%
INVESTING ACTIVITIES
Capital Expenditures -$59.40M -$58.90M -$54.00M
YoY Change -31.96% 9.07% 19.21%
Acquisitions
YoY Change
Other Investing Activities -$187.8M $4.900M -$6.000M
YoY Change 3895.74% -181.67% -148.39%
Cash From Investing Activities -$247.2M -$54.00M -$60.00M
YoY Change 168.7% -10.0% 82.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -101.8M -405.7M -88.60M
YoY Change -68.2% 357.9% -31.16%
NET CHANGE
Cash From Operating Activities 347.4M 490.9M 136.3M
Cash From Investing Activities -247.2M -54.00M -60.00M
Cash From Financing Activities -101.8M -405.7M -88.60M
Net Change In Cash -1.600M 31.20M -12.30M
YoY Change -108.33% -353.66% -157.21%
FREE CASH FLOW
Cash From Operating Activities $347.4M $490.9M $136.3M
Capital Expenditures -$59.40M -$58.90M -$54.00M
Free Cash Flow $406.8M $549.8M $190.3M
YoY Change -21.56% 188.91% -16.68%

Facts In Submission

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CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
162700000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
148300000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
535900000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
548100000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66656000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71940000
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1048000
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1041000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
927000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
773000
CY2018Q4 rs Stock Repurchase Program Increase In Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramIncreaseInNumberOfSharesAuthorizedToBeRepurchased
5000000.0
CY2019Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
6400000
CY2019Q3 rs Stock Repurchase Program Number Of Shares Authorized To Be Repurchased As Percentage Of Total Outstanding Shares
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchasedAsPercentageOfTotalOutstandingShares
0.10
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
50000000.0
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-102700000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-700000
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-103400000
CY2019Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
6500000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions
6500000
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.40
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.49
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.44
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.57
CY2018Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
2300000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
1200000
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
2300000
CY2018Q3 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
33200000
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
33200000
CY2018Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
35500000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1200000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
35500000
CY2018Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
36800000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1200000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
36800000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
36800000
CY2018Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
36800000

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