Reliance Steel (NYSE: RS) reported Q4 EPS of $1.01, $0.05 worse than the analyst estimate of $1.06. Revenue for the quarter came in at $2.58 billion versus the consensus estimate of $2.6 billion.

Business Outlook

Reliance expects the U.S. economy to continue to improve throughout 2015. Despite current pressure on the portion of Reliance's business directly servicing the energy market, estimated at about 8% to 10% of total sales, lower fuel prices and energy costs are expected to drive improvement in overall U.S. demand. The historically high levels of metal being imported into the U.S. are expected to continue given the strong U.S. dollar and weaker economies in other parts of the world, which will continue to put downward pressure on steel prices. Due to normal seasonal trends, as well as the improving demand environment, Reliance expects higher tons sold in the first quarter of 2015 versus the fourth quarter of 2014, but lower average selling prices and margins. As a result, management currently expects non-GAAP earnings per diluted share to be in the range of $1.00 to $1.10 for the quarter ending March 31, 2015.

*** The Street sees Q1 EPS of $1.32.

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