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RELIANCE STEEL & ALUMINUM CO . RELIANCE STEEL & ALUMINUM CO . REPORTS RECORD FIRST QUARTER 2021 FINANCIAL RESULTS Record quarterly gross profit of $ 953.7 million driven by record quarterly gross profit margin of 33.6 % Record quarterly pretax income of $ 359.0 million and record pretax income margin of 12.6 % - - Record EPS of $ 4.12 Cash flow from operations of $ 161.8 million LOS ANGELES — April 22 , 2021 — Reliance Steel & Aluminum Co. ( NYSE : RS ) today reported its financial results for the first quarter ended March 31 , 2021 . ( in millions , except tons which are in thousands and per share amounts ) Q1 2021 Q4 2020 Sequential Quarter % Change Q1 2020 Year - Over - Year % Change Income Statement Data : Net sales Gross profit¹ $ 2,838.4 $ 2,134.1 33.0 % $ 2,572.9 10.3 % $ 953.7 $ 703.6 35.5 % $ 780.7 22.2 % Gross profit margin¹ 33.6 % 33.0 % 0.6 % 30.3 % 3.3 % Non - GAAP gross profit margin 1,2 33.6 % 32.9 % 0.7 % 31.9 % 1.7 % Non - GAAP pretax income adjustments² Pretax income Non - GAAP pretax income² Net income attributable to Reliance SSSS $ ( 1.9 ) $ 0.1 $ 137.5 $ 359.0 $ 166.1 116.1 % $ 83.1 332.0 % $ 357.1 $ 166.2 114.9 % $ 220.6 61.9 % $ 266.9 $ 129.6 105.9 % $ 61.7 332.6 % Diluted EPS $ 4.12 $ 2.01 105.0 % $ 0.92 347.8 % Non - GAAP diluted EPS² $ 4.10 $ 2.01 104.0 % $ 2.45 67.3 % Balance Sheet and Cash Flow Data : Cash provided by operations $ 161.8 $ 230.2 ( 29.7 ) % $ 170.8 ( 5.3 ) % Free cash flow³ $ 118.1 $ 192.9 ( 38.8 ) % $ 115.3 2.4 % Net debt - to - total capital4 14.2 % 0.8x 15.8 % 1.1x 25.4 % 1.4x Net debt - to - EBITDA2,5 Capital Allocation Data : Capital expenditures Acquisitions , net Dividends $ 43.7 $ 37.3 $ 55.5 $ 6.9 $ 44.8 $ 41.3 $ 41.9 $ $ 37.1 $ 300.0 Share repurchases Key Business Metrics : Tons sold Average selling price per ton sold $ 1,409.7 2,020 $ 1,266.4 1,683 11.3 % 1,468.8 20.0 % $ 1,742 ( 4.0 ) % 16.0 % Please refer to the footnotes at the end of this press release for additional information . Management Commentary " Our resilient business model coupled with outstanding execution in a favorable market resulted in record financial performance during the first quarter of 2021 , " said Jim Hoffman , Chief Executive Officer of Reliance . " The dedication of all of my Reliance colleagues to health , safety and operational excellence has enabled Reliance to achieve these record results , despite disruptions from the global pandemic and various supply chain constraints . We experienced ongoing strength in metals pricing , led by multiple price increases for carbon steel products , along with improving demand in many markets , and leveraged our decentralized -1-