Reliance Inc (NYSE:RS)
$ 270.98 0.9 (0.33%) Market Cap: 14.67 Bil Enterprise Value: 15.90 Bil PE Ratio: 14.88 PB Ratio: 2.00 GF Score: 82/100
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Reliance Steel & Aluminum Co at Wells Fargo Industrials Conference Transcript

Jun 14, 2023 / 04:45PM GMT
Release Date Price: $254.85 (-1.42%)
Unidentified Analyst

Okay. Well, good morning, everyone. I'm joined by Karla and Steve from Reliance Steel for our fireside chat today. So thank you both for coming.

Questions & Answers

Unidentified Analyst

I guess I'd begin with a question on sustainability. Specifically, if you could share your views around the sustainability of your gross profit margin?

Karla R. Lewis
Reliance Steel & Aluminum Co. - President, CEO & Director

Yes. Thanks, Will, and we appreciate Wells Fargo having us here today. And those of you who are joining us, we appreciate your time. As far as sustainability of our gross profit margin, that's something we've been talking about for the last few years. We've seen a lot of opportunity probably beginning about 8 years ago with advancements in the value-added processing equipment that we use to service our customers. And we also, at the same time, saw a lot of our customers asking us to do more for them, things they were doing in-house. So we started increasing our investments, bringing in

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