Reliance Steel & Aluminum Reports 18% Decline In Q3 Profit

(RTTNews) - Reliance Steel & Aluminum (RS) revealed earnings for third quarter that fell from last year.

The company said its profit came in at $85.8 million, or $1.16 per share. This was lower than $105.1 million, or $1.33 per share, in last year's third quarter.

Analysts had expected the company to earn $1.02 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 15.5% to $2.29 billion. This was down from $2.71 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q3): $85.8 Mln. vs. $105.1 Mln. last year. -Earnings Decline (Y-o-Y): -18.4% -EPS (Q3): $1.16 vs. $1.33 last year. -EPS Decline (Y-o-Y): -12.8% -Analysts Estimate: $1.02 -Revenue (Q3): $2.29 Bln vs. $2.71 Bln last year. -Revenue Change (Y-o-Y): -15.5%

-Guidance: Next quarter EPS guidance: $0.75 - $0.85