Reliance Steel & Aluminum Q4 Profit Decreases, but beats estimates

(RTTNews) - Reliance Steel & Aluminum (RS) released a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $350.5 million, or $5.88 per share. This compares with $421.3 million, or $6.64 per share, in last year's fourth quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $350.1 million or $5.87 per share for the period.

Analysts on average had expected the company to earn $4.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.5% to $3.61 billion from $3.99 billion last year.

Reliance Steel & Aluminum earnings at a glance (GAAP) :

-Earnings (Q4): $350.5 Mln. vs. $421.3 Mln. last year. -EPS (Q4): $5.88 vs. $6.64 last year. -Analyst Estimates: $4.47 -Revenue (Q4): $3.61 Bln vs. $3.99 Bln last year.

-Guidance: Next quarter EPS guidance: $5.40 to $5.60