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Reliance Steel's (RS) Q4 Earnings & Sales Beat Estimates

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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 $1.22 per share for the fourth quarter. It beat the Zacks Consensus Estimate of $1.00.
 
Revenues
 
Reliance Steel posted fourth-quarter revenues of $2,376.4 million, up 15.3% year over year. It surpassed the Zacks Consensus Estimate of $2,307 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 fourth 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 7.2%.

Key Stats/Developments to Note

Reliance Steel expects tons sold will be up 6% to 8% in the first quarter of 2018 on a sequential comparison basis. Average selling prices are projected to be up 4% to 6% in the first quarter compared with the fourth quarter. Additionally, the company expects earnings per share to be in the band of $1.90 to $2.00 for the first quarter.

Zacks Rank

Reliance Steel currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. 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 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!

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