Reliance Steel (RS) Tops Q4 EPS by 82c, provides outlook

Reliance Steel (NYSE: RS) reported Q4 EPS of $4.73, $0.82 better than the analyst estimate of $3.91. Revenue for the quarter came in at $3.34 billion versus the consensus estimate of $3.31 billion.

Business Outlook:
Reliance expects healthy demand trends to continue into the first quarter of 2024 despite continuing macroeconomic uncertainty and geopolitical matters. Accordingly, the Company estimates its tons sold will be up 9% to 11% compared to the fourth quarter of 2023, consistent with seasonal trends. Reliance expects its average selling price per ton sold for the first quarter of 2024 to be up 1.0% to 3.0% compared to the fourth quarter of 2023 driven by stabilizing pricing trends for many of its products. undefinedd on these expectations, the Company anticipates non-GAAP earnings per diluted share in the range of $5.30 to $5.50 for the first quarter of 2024 vs. $5.30 consensus.

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

You May Also Be Interested In

• ​Trump said he was unaware of his earnings from crypto
• Lockheed Martin frontrunner for $3.5B Ultra Maritime deal, sources say - FT
• MotorK names Roy Toren to board as Helen Protopapas resigns