Reliance Steel & Aluminum Q1 adjusted earnings Beat Estimates

(RTTNews) - Reliance Steel & Aluminum (RS) reported a profit for first quarter that fell from last year.

The company's bottom line totaled $61.7 million, or $0.93 per share. This compares with $190.1 million, or $2.83 per share, in last year's first quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $164.8 million or $2.45 per share for the period.

Analysts had expected the company to earn $2.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.2% to $2.57 billion from $2.96 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q1): $164.8 Mln. vs. $190.1 Mln. last year. -EPS (Q1): $2.45 vs. $2.80 last year. -Analysts Estimate: $2.10 -Revenue (Q1): $2.57 Bln vs. $2.96 Bln last year.