Reliance Steel & Aluminum Q1 adjusted earnings Beat Estimates

(RTTNews) - Reliance Steel & Aluminum (RS) revealed earnings for its first quarter that advanced from the same period last year.

The company's earnings totaled $266.9 million, or $4.12 per share. This compares with $61.7 million, or $0.92 per share, in last year's first quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $265.5 million or $4.10 per share for the period.

Analysts had expected the company to earn $3.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.5% to $2.84 billion from $2.57 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q1): $265.5 Mln. vs. $164.8 Mln. last year. -EPS (Q1): $4.10 vs. $2.45 last year. -Analysts Estimate: $3.51 -Revenue (Q1): $2.84 Bln vs. $2.57 Bln last year.