Reliance Steel & Aluminum Q2 adjusted earnings Beat Estimates

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

The company's earnings totaled $329.1 million, or $5.17 per share. This compares with $80.2 million, or $1.26 per share, in last year's second quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $328.1 million or $5.06 per share for the period.

Analysts had expected the company to earn $4.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 69.3% to $3.42 billion from $2.02 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q2): $328.1 Mln. vs. $88.0 Mln. last year. -EPS (Q2): $5.06 vs. $1.36 last year. -Analysts Estimate: $4.73 -Revenue (Q2): $3.42 Bln vs. $2.02 Bln last year.

-Guidance: Next quarter EPS guidance: $5.55 to $5.75