February 15, 2018 / 12:00 PM / 10 days ago

BRIEF-Reliance Steel & Aluminum Co Q4 Non-GAAP Earnings Per Share $1.22

Feb 15 (Reuters) - Reliance Steel & Aluminum Co:

* REPORTS FOURTH QUARTER AND FULL YEAR 2017 FINANCIAL RESULTS

* SEES Q1 2018 EARNINGS PER SHARE $1.90 TO $2.00

* Q4 NON-GAAP EARNINGS PER SHARE $1.22

* Q4 EARNINGS PER SHARE $4.09

* Q4 SALES ROSE 15.3 PERCENT TO $2.38 BILLION

* INCREASED QUARTERLY DIVIDEND BY 11.1% TO $0.50 PER SHARE

* ENACTMENT OF TAX REFORM IN DEC 2017 RESULTED IN PROVISIONAL/1-TIME INCOME TAX BENEFIT OF $207.3 MILLION IN Q4 OF 2017

* ESTIMATES TONS SOLD WILL BE UP 6% TO 8% IN THE FIRST QUARTER OF 2018 COMPARED TO THE FOURTH QUARTER OF 2017

* QTRLY TONS SOLD WERE UP 6.3% FROM FOURTH QUARTER OF 2016 AND DOWN 4.6% FROM THIRD QUARTER OF 2017

* SEES Q1 AVERAGE SELLING PRICE WILL BE UP 4% TO 6% COMPARED TO THE FOURTH QUARTER OF 2017

* QTRLY AVERAGE SELLING PRICE PER TON SOLD UP 8.8% FROM FOURTH QUARTER OF 2016 AND UP 1.8% FROM THIRD QUARTER OF 2017

* Q1 EARNINGS PER SHARE VIEW $1.76 -- THOMSON REUTERS I/B/E/S

* “ANTICIPATE THAT AN ONGOING REDUCTION IN IMPORTS WILL CONTINUE TO SUPPORT HIGHER METAL PRICING” Source text for Eikon: Further company coverage:

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