Reliance Steel & Aluminum Co logo

RS - Reliance Steel & Aluminum Co News Story

$170.56 -1.9  -1.1%

Last Trade - 14/05/21

Sector
Basic Materials
Size
Large Cap
Market Cap £7.71bn
Enterprise Value £8.34bn
Revenue £6.44bn
Position in Universe 894th / 6846

BRIEF-Reliance Steel & Aluminum Q2 non-GAAP earnings per share $1.40

Thu 27th July, 2017 11:50am
July 27 (Reuters) - Reliance Steel & Aluminum Co  RS.N  
    * Reliance steel & aluminum co. Reports second quarter 2017 
financial results 
    * Sees q3 2017 earnings per share $1.15 to $1.25 
    * Q2 non-gaap earnings per share $1.40 
    * Q2 gaap earnings per share $1.40 
    * Q2 sales $2.48 billion versus i/b/e/s view $2.45 billion 
    * Q2 earnings per share view $1.37 -- Thomson Reuters 
I/B/E/S 
    * Reliance steel & aluminum co - company estimates tons sold 
will be down 3% to 5% in q3 of 2017 compared to q2 of 2017 
    * Reliance steel & aluminum co - company expects its average 
selling price will be flat to up 3% compared to q2 of 2017 
    * Reliance steel & aluminum co - currently expects earnings 
per diluted share to be in range of $1.15 to $1.25 for q3 of 
2017 
    * Reliance steel & aluminum co says "current pricing levels 
are higher than both q1 of 2017 and q2 of 2016, which positively 
contributed to our earnings" 
    * Says mill prices were pressured in q2 2017, especially for 
carbon and stainless steel products 
    * Q3 earnings per share view $1.27 -- Thomson Reuters 
I/B/E/S 
    * Automotive demand remains solid; aerospace demand remains 
strong 
    * Non-Residential construction demand, including 
infrastructure, continues to experience steady growth 
    * Heavy industry demand remains relatively steady, though 
still at low levels 
    * Says energy (oil and gas) demand continues to improve for 
products reliance sells into this end market 
 
Source text for Eikon:  ID:nGNXOCQEDa  
Further company coverage:  RS.N  
 
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