Brief: Reliance Steel & Aluminum Co Reports Fourth Quarter And Full Year 2021 Financial Results

Reliance

17/02/2022 12:40

Feb 17 (Reuters) - Reliance Steel & Aluminum Co  RS.N :
    * REPORTS FOURTH QUARTER AND FULL YEAR 2021 FINANCIAL
RESULTS
    * SEES Q1 NON-GAAP EARNINGS PER SHARE $7.05 TO $7.15
    * QTRLY EARNINGS PER SHARE $6.64
    * QTRLY ADJUSTED EARNINGS PER SHARE $6.83
    * QTRLY NET SALES $3,988.7 MILLION VERSUS $3,847.4 MILLION
IN Q3
    * REMAINS OPTIMISTIC ABOUT BUSINESS CONDITIONS IN Q1 OF 2022
    * ESTIMATES TONS SOLD WILL BE UP 5% TO 7% IN Q1 OF 2022
COMPARED
TO Q4 OF 2021 DUE TO SEASONAL SHIPPING VOLUME INCREASES
    * QTRLY AVERAGE SELLING PRICE PER TON SOLD $3,139 VERSUS
$2,862 IN
Q3 2021
    * Q4 EARNINGS PER SHARE VIEW $5.22, REVENUE VIEW $3.83
BILLION --
REFINITIV IBES DATA
    * EXPECTS ITS AVERAGE SELLING PRICE PER TON SOLD FOR Q1 OF
2022 TO
BE DOWN ONLY 2% TO 4% COMPARED TO Q4 OF 2021
    * QTRLY TONS SOLD 1.28 MILLION TONS VERSUS 1.36 MILLION TONS
IN Q3
    * Q1 EARNINGS PER SHARE VIEW $5.09 -- REFINITIV IBES DATA
    * TONS SOLD ESTIMATE FOR Q1 2022 LOWER THAN TYPICAL Q1
EXPECTATION
DUE TO CONTINUED SUPPLY CHAIN AND LABOR DISRUPTIONS

Source text for Eikon:  ID:nGNX8Xq7gR 
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