Reliance Steel & Aluminum Co logo

RS - Reliance Steel & Aluminum Co News Story

$172.44 4.6  2.7%

Last Trade - 13/05/21

Sector
Basic Materials
Size
Large Cap
Market Cap £7.61bn
Enterprise Value £8.24bn
Revenue £6.46bn
Position in Universe 888th / 6856

BRIEF-Reliance Steel & Aluminum Reports Q1 Earnings Per Share $2.30

Thu 26th April, 2018 11:56am
April 26 (Reuters) - Reliance Steel & Aluminum Co  RS.N :
    * REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS
    * SEES Q2 2018 EARNINGS PER SHARE $2.60 TO $2.70
    * Q1 NON-GAAP EARNINGS PER SHARE $2.30
    * Q1 SALES $2.76 BILLION VERSUS I/B/E/S VIEW $2.69 BILLION
    * Q1 EARNINGS PER SHARE VIEW $2.01 -- THOMSON REUTERS
I/B/E/S
    * Q1 EARNINGS PER SHARE $2.30
    * QTRLY TONS SOLD WERE AT 1.6 MILLION TONS, UP 3.6% FROM Q1
OF
2017 AND UP 10.0% FROM Q4 OF 2017
    * QTRLY AVERAGE SELLING PRICE PER TON SOLD UP 10.3% FROM Q1
OF
2017 AND UP 5.6% FROM Q4 OF 2017
    * RELIANCE STEEL & ALUMINUM - EXPERIENCED LIMITED PRE-BUYING
ACTIVITY FROM CERTAIN OF CO'S CUSTOMERS DUE TO RAPID PRICE
INCREASES THROUGHOUT QUARTER
    * ESTIMATES TONS SOLD WILL BE DOWN 1% TO UP 1% IN Q2 OF 2018
COMPARED TO Q1 OF 2018
    * EXPECTS ITS AVERAGE SELLING PRICE FOR Q2 TO BE UP 5% TO 8%
COMPARED TO Q1 OF 2018
    * RELIANCE STEEL & ALUMINUM - BETTER DEMAND, LIMITED
CUSTOMER
PRE-BUYING DUE TO TARIFFS, NORMAL SEASONAL PATTERNS INCREASED
SHIPMENTS BY 10% IN Q1
    * RELIANCE STEEL & ALUMINUM - IMPROVED DEMAND, LIMITED
CUSTOMER
PRE-BUYING DUE TO TARIFFS, NORMAL SEASONAL PATTERNS INCREASED
CO'S SHIPMENTS IN Q1 VERSUS Q4
    * "AEROSPACE DEMAND REMAINS STRONG, AND CONTINUES TO BE ONE
OF
COMPANY'S TOP-PERFORMING END MARKETS"
    * POSITIVE PRICING AND DEMAND FUNDAMENTALS EXPERIENCED IN Q4
2017
CONTINUED THROUGH Q1 2018
    * RELIANCE STEEL & ALUMINUM - MAINTAINS POSITIVE OUTLOOK FOR
AEROSPACE AS BUILD RATES AND BACKLOG FOR ORDERS OF COMMERCIAL
PLANES CONTINUES TO IMPROVE
    * "METAL PRICING ENVIRONMENT REMAINED VERY STRONG THROUGHOUT
QUARTER"
    * NON-RESIDENTIAL CONSTRUCTION DEMAND, INCLUDING
INFRASTRUCTURE,
CONTINUES TO STEADILY IMPROVE

Source text for Eikon:  ID:nGNX1xN24X 
Further company coverage:  RS.N 

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