Reliance Steel & Aluminum Reports 26% Fall In Q1 Earnings

(RTTNews) - Reliance Steel & Aluminum (RS) reported earnings for first quarter that decreased from last year.

The company said its profit totaled $74.6 million, or $1.03 per share. This was lower than $101.3 million, or $1.30 per share, in last year's first quarter.

Analysts had expected the company to earn $0.88 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 17.2% to $2.16 billion. This was down from $2.61 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q1): $74.6 Mln. vs. $101.3 Mln. last year. -Earnings Decline (Y-o-Y): -26.4% -EPS (Q1): $1.03 vs. $1.30 last year. -EPS Decline (Y-o-Y): -20.8% -Analysts Estimate: $0.88 -Revenue (Q1): $2.16 Bln vs. $2.61 Bln last year. -Revenue Change (Y-o-Y): -17.2%

-Guidance: Next quarter EPS guidance: $1.15 - $1.25