Reliance Steel & Aluminum Q2 adjusted earnings Beat Estimates

(RTTNews) - Reliance Steel & Aluminum (RS) released earnings for second quarter that decreased from the same period last year.

The company's profit totaled $80.2 million, or $1.26 per share. This compares with $183.1 million, or $2.73 per share, in last year's second quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $88.0 M or $1.36 per share for the period.

Analysts had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 29.9% to $2.02 billion from $2.88 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q2): $88.0 M. vs. $184.0 M. last year. -EPS (Q2): $1.36 vs. $2.71 last year. -Analysts Estimate: $0.40 -Revenue (Q2): $2.02 Bln vs. $2.88 Bln last year.