Reliance Steel & Aluminum Q4 Profit Down - Quick Facts

(RTTNews) - Metal processor Reliance Steel & Aluminum Co. (RS) said its fourth-quarter net income attributable to the company was $61.8 million, down 23.1% from $80.4 million reported a year back. Quarterly earnings per share slid 25.5% to $0.79, from $1.06 in the 2012 period.

According to non-GAAP basis, earnings per share were $0.92 this quarter. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.98 for the quarter. Analysts' estimates typically exclude one-time items.

On the other hand, three-month sales reached $2.31 billion, up 22.1% from $1.89 billion in the fourth quarter of 2012. Ten analysts estimated revenues of $2.36 billion for the quarter. Tons sold were up 38.7% year-over-year, with the average selling price per ton sold down 11.4% from the previous year.

For the first quarter ending March 31, 2014, the firm now expects earnings per share to be in the range of $1.20 - $1.30; while 8 analysts project earnings of $1.37 per share.