Reliance Steel & Aluminum Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $272.7 million, or $4.70 per share. This compares with $350.5 million, or $5.88 per share, in last year's fourth quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $272.7 million or $4.73 per share for the period.

Analysts on average had expected the company to earn $3.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.5% to $3.34 billion from $3.61 billion last year.

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

-Earnings (Q4): $272.7 Mln. vs. $350.5 Mln. last year. -EPS (Q4): $4.70 vs. $5.88 last year. -Analyst Estimates: $3.92 -Revenue (Q4): $3.34 Bln vs. $3.61 Bln last year.

-Guidance: Next quarter EPS guidance: $5.30 to $5.50