Reliance Steel & Aluminum Q3 adjusted earnings Miss Estimates

(RTTNews) - Reliance Steel & Aluminum (RS) reported earnings for its third quarter that climbed from the same period last year.

The company's bottom line came in at $148.3 million, or $2.03 per share. This compares with $97.3 million, or $1.32 per share, in last year's third quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $176.3 million or $2.42 per share for the period.

Analysts had expected the company to earn $2.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.2% to $2.97 billion from $2.45 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q3): $176.3 Mln. vs. $95.8 Mln. last year. -EPS (Q3): $2.42 vs. $1.30 last year. -Analysts Estimate: $2.69 -Revenue (Q3): $2.97 Bln vs. $2.45 Bln last year.

-Guidance: Next quarter EPS guidance: $1.75 - $1.85