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Reliance Steel & Aluminum Co. (RS - Free Report) is a leading metals service center company engaged in value-added materials management and metals processing services.
Earnings
Reliance Steel’s adjusted earnings were $3.10 per share for the second quarter. It beat the Zacks Consensus Estimate of $2.71. Revenues
Reliance Steel posted second-quarter revenues of $2,988.9 million, up 21% year over year. It surpassed the Zacks Consensus Estimate of $2,981.8 million.
Reliance Steel & Aluminum Co. Price and EPS Surprise
Investors should note that the earnings estimate for Reliance Steel for the second quarter has been going up over the last month. Reliance Steel has beaten the Zacks Consensus Estimate in all the trailing four quarters with an average beat of 11.6%.
Key Stats/Developments to Note
Reliance Steel expects tons sold to be down 2% to 4% in the third quarter of 2018 on a sequential comparison basis. Average selling prices are projected to be up 1% to 3% in the third quarter compared with the second quarter. Additionally, the company expects earnings per share to be in the band of $2.65 to $2.75 for the third quarter.
Reliance Steel’s shares were inactive in pre-market trading. 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!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Reliance Steel's (RS) Q2 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.
Earnings
Reliance Steel’s adjusted earnings were $3.10 per share for the second quarter. It beat the Zacks Consensus Estimate of $2.71.
Revenues
Reliance Steel posted second-quarter revenues of $2,988.9 million, up 21% year over year. It surpassed the Zacks Consensus Estimate of $2,981.8 million.
Reliance Steel & Aluminum Co. Price and EPS Surprise
Reliance Steel & Aluminum Co. Price and EPS Surprise | Reliance Steel & Aluminum Co. Quote
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Reliance Steel for the second quarter has been going up over the last month. Reliance Steel has beaten the Zacks Consensus Estimate in all the trailing four quarters with an average beat of 11.6%.
Key Stats/Developments to Note
Reliance Steel expects tons sold to be down 2% to 4% in the third quarter of 2018 on a sequential comparison basis. Average selling prices are projected to be up 1% to 3% in the third quarter compared with the second quarter. Additionally, the company expects earnings per share to be in the band of $2.65 to $2.75 for the third quarter.
Zacks Rank
Reliance Steel currently has a Zacks Rank #2 (Buy). Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction
Reliance Steel’s shares were inactive in pre-market trading. 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!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>