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RELIANCE STEEL & ALUMINUM CO . REPORTS RECORD SECOND QUARTER 2021 FINANCIAL RESULTS Record quarterly net sales of $ 3.42 billion Record quarterly gross profit of $ 1.08 billion driven by strong gross profit margin of 31.7 % Record quarterly pretax income of $ 444.1 million and record pretax income margin of 13.0 % Record quarterly EPS of $ 5.08 Increased existing share repurchase program to $ 1 billion Announces increase in estimated sustainable gross profit margin range to 29 % to 31 % LOS ANGELES - July 22 , 2021 - Reliance Steel & Aluminum Co. ( NYSE : RS ) today reported its financial results for the second quarter ended June 30 , 2021 . ( in millions , except tons which are in thousands and per share amounts ) Income Statement Data : Net sales Gross profit¹ Gross profit margin¹ Non - GAAP gross profit margin ¹ , 2 LIFO ( expense ) income LIFO ( expense ) income as a % of sales Non - GAAP pretax income adjustments² Pretax income Non - GAAP pretax income² Net income attributable to Reliance Diluted EPS Non - GAAP diluted EPS² Balance Sheet and Cash Flow Data : Cash provided by operations Free cash flow³ Net debt - to - total capital4 Net debt - to - EBITDA2,5 Capital Allocation Data : Capital expenditures Dividends Share repurchases $ $ $ $ $ $ $ $ $ $ $ $ $ $ Q2 2021 $ 3,418.8 $ 1,082.2 $ 31.7 % 31.7 % ( 200.0 ) $ ( 5.8 ) % ( 1.3 ) $ 444.1 $ 442.8 $ 329.1 $ 5.08 $ 5.06 $ 101.6 $ 21.5 $ 14.0 % 0.7x 80.1 $ 43.8 $ 24.0 $ Key Business Metrics : Tons sold Average selling price per ton sold Please refer to the footnotes at the end of this press release for additional information . 1,424.0 2,418 $ Q1 2021 2,838.4 953.7 33.6 % 33.6 % - 1 ( 100.0 ) ( 3.5 ) % ( 1.9 ) 359.0 357.1 266.9 4.12 4.10 161.8 118.1 14.2 % 0.8x 43.7 44.8 1,409.7 2,020 Sequential Six Months Ended June Year - Over Quarter 30 , Year % Change % Change 20.4 % $ 13.5 % $ ( 1.9 ) % ( 1.9 ) % ( 2.3 ) % $ $ 23.7 % $ 24.0 % $ 23.3 % $ 23.3 % $ 23.4 % $ ( 37.2 ) % $ ( 81.8 ) % $ $ $ 1.0 % 19.7 % $ 2021 6,257.2 $ 4,592.2 2,035.9 $ 1,395.4 32.5 % 30.4 % 32.5 % 31.3 % ( 300.0 ) $ ( 4.8 ) % ( 3.2 ) $ 803.1 $ 799.9 $ 596.0 $ 9.20 $ 9.17 $ 263.4 $ 139.6 $ 14.0 % 0.7x 2020 123.8 $ 88.6 $ 24.0 $ 25.0 0.6 % RELIANCE STEEL & ALUMINUM CO . 147.9 185.1 333.0 141.9 2.15 3.84 646.5 550.0 20.4 % 1.3x 96.5 81.8 300.0 2,833.7 2,680.6 2,220 $ 1,714 36.3 % $ 45.9 % $ 2.1 % 1.2 % $ ( 5.4 ) % $ 333.9 % $ 140.2 % $ 320.0 % $ 327.9 % $ 138.8 % $ $ $ $ Q2 2020 5.7 % 29.5 % $ 2,019.3 614.7 30.4 % 30.4 % ( 59.3 ) % $ 475.7 ( 74.6 ) % $ 434.7 20.4 % 1.3x 5.0 0.2 % 10.4 102.0 112.4 80.2 1.24 1.36 41.0 39.9 1,211.8 1,681 Year - Over Year % Change 69.3 % 76.1 % 1.3 % 1.3 % ( 6.0 ) % 335.4 % 294.0 % 310.3 % 309.7 % 272.1 % ( 78.6 ) % ( 95.1 ) % 17.5 % 43.8 % Management Commentary " Our resilient business model coupled with favorable market conditions drove a second consecutive quarter of record financial performance in the second quarter of 2021 , " said Jim Hoffman , Chief Executive Officer of Reliance . " I am inspired by the ongoing operational excellence and performance demonstrated by all of my