Reliance Steel & Aluminum Co. (RS) Misses Q2 EPS by 10c, Q3 EPS Guidance Falls Short

Reliance Steel & Aluminum Co. (NYSE: RS) reported Q2 EPS of $1.30, $0.10 worse than the analyst estimate of $1.40. Revenue for the quarter came in at $2.62 billion versus the consensus estimate of $2.65 billion.

Reliance Steel & Aluminum Co. sees Q3 2014 EPS of $1.25-$1.35, versus the consensus of $1.43.

Business Outlook

As the U.S. economy maintains its slow but steady recovery, Reliance expects demand to continue to improve in the 2014 third quarter at a slightly higher rate than was experienced in the 2014 second quarter, and pricing to remain relatively stable with current levels. As a result, management anticipates earnings per diluted share to be in the range of $1.25 to $1.35 for the quarter ending September 30, 2014.

For earnings history and earnings-related data on Reliance Steel & Aluminum Co. (RS) click here.

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