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Reliance (NYSE:RS) released second-quarter financial results and hosted an earnings call on Thursday. Read the complete transcript below. This content is powered by Benzinga APIs. For comprehensive financial data and
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Reliance Inc. (RS) shares have surged 33% year-to-date, outperforming its industry, driven by strong demand from data centers, energy infrastructure, and the border wall project. The company has executed strategic acquisitions to expand market reach and returned $3.4 billion to shareholders through buybacks since 2021, while maintaining a strong balance sheet with $235.4 million in cash.
Methanex Corporation (MEOH) shares have gained 56.5% over the past year driven by expanded North American capacity and the OCI acquisition, with Geismar achieving record production. However, the company faces significant challenges including gas constraints, weak demand in China, lower realized pricing, and elevated shipping costs, resulting in a Hold rating.
JP Morgan analyst Bennett Moore maintains Reliance (NYSE:RS) with a Neutral and lowers the price target from $398 to $390.
Cramer avoids AstraZeneca, Joby and Grab; favors Trinity, Nucor over Reliance, and praises Simon Property and Federal Realty.