Reliance Steel & Aluminum Co. Reports First Quarter 2020 Financial Results
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UPDATE: Reliance Steel (RS) Tops Q1 EPS by 35c, Revenues Miss; Will Not Provide 2Q Guidance Due to COVID-19 Pandemic
April 23, 2020 6:53 AM EDT(Updated - April 23, 2020 6:53 AM EDT)
Reliance Steel (NYSE: RS) reported Q1 EPS of $2.45, $0.35 better than the analyst estimate of $2.10. Revenue for the quarter came in at $2.57 billion versus the consensus estimate of $2.66 billion.
Strong gross profit margin of 30.3%;non-GAAP gross profit margin of 31.9%EPS of $0.92, non-GAAP EPS of $2.45Includes pretax impairment and restructuring charge of $137.5 million, or $1.53 per diluted shareGenerated cash flow from operations of $170.8 million, an increase of 45.7% year-over-yearRepurchased $300.0 million of Reliance common stockMaintains quarterly dividend of $0.625 per shareManagement... More
