We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Reliance Steel & Aluminum Co. (RS - Free Report) is a leading metals service center company engaged in value-added materials management and metals processing services. It distributes metal products including stainless steel, aluminum, brass, copper, titanium and alloy steel to customers across a vast spectrum of industries.
Reliance Steel is gaining from its strategic acquisitions and strong demand for its products across the aerospace and automotive markets.
Let’s have a quick look at this metal processor’s third-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Reliance Steel for the third quarter has been going down over the past month. Reliance Steel has beat the Zacks Consensus Estimate in three of the trailing four quarters with an average positive surprise of 4%.
Reliance Steel & Aluminum Co. Price and EPS Surprise
Reliance Steel logged adjusted earnings of $1.30 per share for the quarter that exceeded the Zacks Consensus Estimate of $1.20.
Revenues
Reliance Steel recorded net sales of $2,450.1 million, up 12.1% year over year, beating the Zacks Consensus Estimate of $2,366 million.
Key Stats/Developments to Note
Reliance Steel estimates tons sold will be down 4% to 6% in the fourth quarter on a sequential comparison basis. Average selling prices are projected to be flat to down 2% in the fourth quarter compared with the third quarter. Additionally, the company expects earnings per share to be in the band of 90 cents to $1.00 for the fourth quarter.
Zacks Rank
Reliance Steel currently has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Reliance Steel’s shares were up 2.5% in pre-market trading following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Reliance Steel’s earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Reliance Steel's (RS) Q3 Earnings & Sales Beat Estimates
Reliance Steel & Aluminum Co. (RS - Free Report) is a leading metals service center company engaged in value-added materials management and metals processing services. It distributes metal products including stainless steel, aluminum, brass, copper, titanium and alloy steel to customers across a vast spectrum of industries.
Reliance Steel is gaining from its strategic acquisitions and strong demand for its products across the aerospace and automotive markets.
Let’s have a quick look at this metal processor’s third-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Reliance Steel for the third quarter has been going down over the past month. Reliance Steel has beat the Zacks Consensus Estimate in three of the trailing four quarters with an average positive surprise of 4%.
Reliance Steel & Aluminum Co. Price and EPS Surprise
Reliance Steel & Aluminum Co. Price and EPS Surprise | Reliance Steel & Aluminum Co. Quote
Earnings
Reliance Steel logged adjusted earnings of $1.30 per share for the quarter that exceeded the Zacks Consensus Estimate of $1.20.
Revenues
Reliance Steel recorded net sales of $2,450.1 million, up 12.1% year over year, beating the Zacks Consensus Estimate of $2,366 million.
Key Stats/Developments to Note
Reliance Steel estimates tons sold will be down 4% to 6% in the fourth quarter on a sequential comparison basis. Average selling prices are projected to be flat to down 2% in the fourth quarter compared with the third quarter. Additionally, the company expects earnings per share to be in the band of 90 cents to $1.00 for the fourth quarter.
Zacks Rank
Reliance Steel currently has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Reliance Steel’s shares were up 2.5% in pre-market trading following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Reliance Steel’s earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>