Reliance Steel & Aluminum Co logo

RS - Reliance Steel & Aluminum Co News Story

$154.3 -2.3  -1.5%

Last Trade - 13/04/21

Sector
Basic Materials
Size
Large Cap
Market Cap £7.26bn
Enterprise Value £7.97bn
Revenue £6.41bn
Position in Universe 931st / 6841

BRIEF-Reliance Steel & Aluminum Q4 Earnings Per Share $2.01

Thu 18th February, 2021 1:40pm
Feb 18 (Reuters) - Reliance Steel & Aluminum Co  RS.N :
    * REPORTS FOURTH QUARTER AND FULL YEAR 2020 FINANCIAL
RESULTS
    * Q4 NON-GAAP EARNINGS PER SHARE $2.01
    * QTRLY AVERAGE SELLING PRICE PER TON SOLD $1,683 UP 4.6%
VERSUS
Q3
    * SEES Q1 NON-GAAP EARNINGS PER SHARE $3.40 TO $3.50
    * Q4 REVENUE $2.13 BILLION VERSUS REFINITIV IBES ESTIMATE OF
$2.18
BILLION
    * Q4 EARNINGS PER SHARE ESTIMATE $2.02 -- REFINITIV IBES
DATA
    * Q1 EARNINGS PER SHARE VIEW $2.72 -- REFINITIV IBES DATA
    * QTRLY DILUTED EPS $2.01
    * EXPERIENCED ONGOING IMPROVEMENTS IN DEMAND IN NEARLY ALL
OF END
MARKETS IT SERVES IN QUARTER
    * QTRLY TONS SOLD WERE 1.27 MILLION VERSUS 1.38 MILLION
    * CAUTIOUSLY OPTIMISTIC DEMAND FOR NON-RESIDENTIAL
CONSTRUCTION
ACTIVITY IN CO'S SPACE WILL CONTINUE AT Q4 LEVELS IN Q1
    * MAINTAINS ITS POSITIVE OUTLOOK FOR AEROSPACE DEFENSE
MARKET
    * CAUTIOUSLY OPTIMISTIC THAT DEMAND IN COMMERCIAL AEROSPACE
MAY
BEGIN TO SLOWLY RECOVER IN LATTER HALF OF 2021
    * DEMAND IN ENERGY MARKET REMAINED UNDER PRESSURE IN Q4 WITH
MODEST IMPROVEMENT EXPECTED IN Q1
    * ESTIMATES THAT TONS SOLD WILL BE UP 10% TO 12% IN Q1 OF
2021
COMPARED TO Q4 OF 2020
    * ESTIMATES ITS AVERAGE SELLING PRICE PER TON SOLD FOR Q1 OF
2021
WILL BE UP 12% TO 14% COMPARED TO Q4 OF 2020

Source text: (https://refini.tv/2OGK0pC)
Further company coverage:  RS.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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