Reliance Steel & Aluminum Co. (RS) Misses Q1 EPS by 5c, Offers Outlook

Reliance Steel & Aluminum Co. (NYSE: RS) reported Q1 EPS of $1.19, $0.05 worse than the analyst estimate of $1.24. Revenue for the quarter came in at $2.55 billion versus the consensus estimate of $2.5 billion.

Reliance Steel & Aluminum Co. sees Q1 2014 EPS of $1.30-$1.40, versus the consensus of $1.44.

Business Outlook

As the U.S. economy maintains its slow but steady recovery, Reliance expects metals pricing and demand to continue to improve throughout the second quarter. As a result, assuming increased tons sold and average pricing up modestly, for the second quarter ending June 30, 2014, management currently expects earnings per diluted share to be in the range of $1.30 to $1.40.

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

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