Reliance Steel & Aluminum Co. Q4 Profit Down, But Better Than Estimates; Sees Q1 Earnings Above View

(RTTNews) - Reliance Steel & Aluminum Co. (RS) Thursday reported profit of $350.5 million or $5.88 per share in the fourth quarter, lower than $421.3 million or $6.64 per share in the same quarter a year ago.

Excluding one-time items, earnings were $5.87 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $4.47 per share.

Quarterly sales declined to $3.611 billion from $3.989 billion last year. The consensus estimate was for $3.64 billion.

Looking forward to the first quarter, the company expects adjusted earnings per share to be in the range of $5.40-$5.60. Analysts expect the company to report earnings of $4.92 per share in the first quarter.