Reliance Steel & Aluminum Co. Reports Second Quarter 2019 Financial Results

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Go back to Reliance Steel & Aluminum Co. Reports Second Quarter 2019 Financial Results

Reliance Steel (RS) Tops Q2 EPS by 13c, Revenues Miss; Offers Q3 EPS Guidance

July 25, 2019 6:53 AM EDT

Reliance Steel (NYSE: RS) reported Q2 EPS of $2.71, $0.13 better than the analyst estimate of $2.58. Revenue for the quarter came in at $2.88 billion versus the consensus estimate of $2.92 billion.

Strong gross profit margin of 29.6% drove third highest gross profit dollars in Companys history of $853.6 millionEPS of $2.69, Non-GAAP EPS of $2.71, third highest in Companys historyGenerated significant cash flow from operations of $346.0 millionRepurchased $50.0 million of Reliance common stock

Management CommentaryWe had a solid second quarter characterized by relatively steady demand conditions in most of the key end markets we serve, said... More