CLSA Downgrades Reliance Steel & Aluminum (RS) to Underperform
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Reliance Steel & Aluminum Co. Reports First Quarter 2016 Financial Results
April 21, 2016 6:50 AM EDTLOS ANGELES, April 21, 2016 /PRNewswire/ -- Reliance Steel & Aluminum Co. (NYSE: RS) today reported its financial results for the first quarter ended March 31, 2016.
First Quarter 2016 Financial Highlights
Sales were $2.16 billion, down 17.3% from $2.61 billion in the first quarter of 2015 and up 6.7% from $2.03 billion in the fourth quarter of 2015. Tons sold were down 2.7% from the first quarter of 2015 and up 8.9% from the fourth quarter of 2015, with the average selling price per ton sold down 15.6% from the first... More