Reliance Steel & Aluminum Co. Reports Third Quarter 2018 Financial Results
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Reliance Steel (RS) Misses Q3 EPS by 27c, Revenues In-Line; Offers 4Q EPS Mid-Point Outlook Below Consensus
October 25, 2018 6:53 AM EDTReliance Steel (NYSE: RS) reported Q3 EPS of $2.42, $0.27 worse than the analyst estimate of $2.69. Revenue for the quarter came in at $2.97 billion versus the consensus estimate of $2.97 billion.
Net sales were $2.97 billion, the second highest in Company history, up 21.4% from $2.45 billion in the third quarter of 2017 and down 0.5% from record $2.99 billion in the second quarter of 2018.Tons sold were down 1.2% from the third quarter of 2017 and down 5.1% from the second quarter of 2018, with the average selling price per ton sold up 23.0% from the third quarter of 2017 and up 4.3% from the second quarter... More