Reliance Inc. Shareholders Elect Board Members and Approve Proposals

SCOTTSDALE, AZ - Reliance, Inc., a wholesale metals service center with a market capitalization of $15.8 billion and annual revenues of $13.7 billion, announced the results of its Annual Meeting of Stockholders held on May 21, 2025. According to InvestingPro analysis, the company maintains a GOOD financial health score, reflecting strong operational performance. During the meeting, which was conducted via live webcast, shareholders voted on several key issues including the election of board members and approval of executive compensation.

The company reported that approximately 89.59% of the total shares outstanding were represented at the meeting. All nominees for the Board of Directors were elected to serve until the next Annual Meeting. The votes for each nominee varied, with a majority voting in favor. For instance, Lisa L. Baldwin received 42,075,929 votes for, 2,052,888 against, and 41,171 abstentions, with 3,213,364 broker non-votes.

In addition to the election of Board members, the proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers was passed with 41,834,604 votes for, 2,270,934 against, and 64,450 abstentions. There were 3,213,364 broker non-votes on this proposal.

Furthermore, the proposal to ratify the selection of KPMG LLP as the Company’s independent registered public accounting firm for the 2025 fiscal year was overwhelmingly approved with 46,845,533 votes for, 510,088 against, and 27,731 abstentions. No broker non-votes were recorded for this proposal.

These results demonstrate shareholder support for the current Board’s composition and management’s executive compensation strategy. Additionally, the shareholders’ approval of KPMG LLP as the independent registered public accounting firm reflects confidence in the company’s financial reporting processes. The company’s stock, currently trading at $300.24, has delivered a 9.34% return year-to-date, with a P/E ratio of 21.2.

The information provided in this article is based on a press release statement from Reliance, Inc. and is intended to inform the public and shareholders of the outcomes of the recent Annual Meeting of Stockholders. For deeper insights into Reliance’s governance metrics, financial health indicators, and comprehensive analysis, access the full Pro Research Report available on InvestingPro, covering over 1,400 US stocks with expert analysis and actionable intelligence.

In other recent news, Reliance Steel & Aluminum Co. reported strong financial results for the first quarter of 2025, with non-GAAP earnings per share reaching $3.77, surpassing analysts’ expectations. The company achieved a significant 12.8% increase in shipments quarter-over-quarter and improved its gross profit margin by 140 basis points to 30.4%. Despite macroeconomic uncertainties, Reliance Steel maintained stable demand across its diversified markets, notably in nonresidential construction and manufacturing sectors. The company also increased its quarterly dividend by 9.1% to $1.20 per share, reflecting confidence in its financial position.

Reliance Steel’s strategic focus on domestic sourcing and diversified product offerings contributed to its robust performance, outpacing broader industry trends. The company anticipates a slight fluctuation in tons sold for the second quarter of 2025, with non-GAAP EPS guidance set between $4.50 and $4.70. Analyst firms such as Seaport Research Partners have taken note of the company’s market share gains and strategic growth, indicating a positive outlook for the upcoming quarters.

Additionally, the company is experiencing a slowdown in its mergers and acquisitions pipeline due to market conditions, although it remains financially strong to pursue strategic acquisitions. Reliance Steel’s management emphasized the resilience of its business model and its ability to navigate challenges such as global trade tensions and fluctuating metal prices.

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