Reliance Steel & Aluminum Q3 Profit Beats Estimates

(RTTNews) - Reliance Steel & Aluminum Co. (RS) reported that its third quarter non-GAAP EPS increased to $6.48 from $6.15, prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $6.19, for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to Reliance was $393.5 million or $6.45 per share compared to $395.7 million or $6.15 per share, last year.

Net sales increased to $4.25 billion from $3.85 billion, prior year. Analysts on average had estimated $4.13 billion in revenue.

Reliance estimates non-GAAP earnings per share in the range of $4.30 to $4.50 for the fourth quarter.

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