Reliance Steel & Aluminum Q2 adjusted earnings Beat Estimates

(RTTNews) - Reliance Steel & Aluminum (RS) released a profit for its second quarter that advanced from the same period last year.

The company's bottom line totaled $230.8 million, or $3.16 per share. This compares with $103.0 million, or $1.40 per share, in last year's second quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $226.4 million or $3.10 per share for the period.

Analysts had expected the company to earn $2.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.6% to $2.99 billion from $2.48 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q2): $226.4 Mln. vs. $103.1 Mln. last year. -EPS (Q2): $3.10 vs. $1.40 last year. -Analysts Estimate: $2.75 -Revenue (Q2): $2.99 Bln vs. $2.48 Bln last year.