Reliance Steel & Aluminum Q3 adjusted earnings Beat Estimates

(RTTNews) - Reliance Steel & Aluminum (RS) reported a profit for third quarter that declined from the same period last year.

The company's bottom line totaled $97.6 million, or $1.53 per share. This compares with $162.7 million, or $2.44 per share, in last year's third quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $120.9 million or $1.87 per share for the period.

Analysts had expected the company to earn $1.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 22.3% to $2.09 billion from $2.69 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q3): $120.9 Mln. vs. $162.0 Mln. last year. -EPS (Q3): $1.87 vs. $2.39 last year. -Analysts Estimate: $1.50 -Revenue (Q3): $2.09 Bln vs. $2.69 Bln last year.