Reliance Steel (RS) Misses Q3 EPS by 27c, Revenues In-Line; Offers 4Q EPS Mid-Point Outlook Below Consensus
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Reliance Steel & Aluminum Co. Reports Third Quarter 2018 Financial Results
October 25, 2018 6:50 AM EDT-- Second highest quarterly net sales in Companys history of $2.97 billion increased $524.4 million, or 21.4%, year-over-year-- Second highest quarterly gross profit dollars in Companys history of $834.3 million increased 21.7% year-over-year -- EPS of $2.03 increased 53.8% year-over-year; second highest non-GAAP EPS in Companys history of $2.42 increased 86.2% year-over-year -- Stronger than anticipated pricing environment resulted in pre-tax LIFO adjustment (expense) of $77.5 million, or $0.80 per diluted share; $0.34 per diluted share greater than previously estimated -- Repurchased $80.7 million of Reliance common stock
LOS ANGELES, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Reliance Steel & Aluminum Co. (NYSE:... More
