Reliance Steel & Aluminum Co. (RS) Misses Q2 EPS by 5c

Reliance Steel & Aluminum Co. (NYSE: RS) reported Q2 EPS of $1.14, $0.05 worse than the analyst estimate of $1.19. Revenue for the quarter came in at $2.45 million versus the consensus estimate of $2.48 million.

Business Outlook

The Company expects global economic uncertainty will continue to present challenges to industrial growth in the third quarter of 2013 and expects only slight improvements in demand with pricing remaining relatively unchanged from second quarter levels. Additionally, third quarter business activity is typically negatively impacted by some seasonal slowness as compared to the second quarter. As a result, for the third quarter ending September 30, 2013, management currently expects GAAP earnings per diluted share to be in the range of $1.15 to $1.25.

For earnings history and earnings-related data on Reliance Steel & Aluminum Co. (RS) click here.

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