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Reliance Steel & Aluminum Co (RS.N)

RS.N on New York Stock Exchange

74.92USD
15 Jan 2019
Change (% chg)

$-0.89 (-1.17%)
Prev Close
$75.81
Open
$75.89
Day's High
$76.00
Day's Low
$74.42
Volume
74,952
Avg. Vol
139,917
52-wk High
$97.38
52-wk Low
$68.64

Latest Key Developments (Source: Significant Developments)

Reliance Steel & Aluminum Co. Q3 Earnings Per Share $2.03
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Reliance Steel & Aluminum Co ::. REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS.SEES Q4 2018 NON-GAAP EARNINGS PER SHARE $1.75 TO $1.85.Q3 EARNINGS PER SHARE $2.03.Q3 EARNINGS PER SHARE VIEW $2.69 -- THOMSON REUTERS I/B/E/S.Q3 NON-GAAP EARNINGS PER SHARE $2.42.Q3 SALES $2.97 BILLION VERSUS I/B/E/S VIEW $2.97 BILLION.Q3 TONS SOLD WERE DOWN 1.2% FROM Q3 OF 2017.QUARTERLY AVERAGE SELLING PRICE PER TON SOLD UP 23.0% FROM Q3 OF 2017 AND UP 4.3% FROM Q2 OF 2018..ESTIMATES TONS SOLD WILL BE DOWN 5% TO 7% IN Q4 OF 2018 COMPARED TO Q3 OF 2018.STRONGER THAN ANTICIPATED PRICING ENVIRONMENT RESULTED IN PRE-TAX LIFO ADJUSTMENT OF $0.80 PER DILUTED SHARE IN Q3.REPURCHASED $80.7 MILLION OF RELIANCE COMMON STOCK.EXPECTS ITS AVERAGE SELLING PRICE PER TON SOLD FOR Q4 WILL BE FLAT TO UP 1% COMPARED TO Q3 OF 2018.CONTINUOUSLY EVALUATE EACH OF OUR 300 PLUS OPERATIONS TO DETERMINE IF THEY MEET OUR PROFITABILITY STANDARDS..RELIANCE STEEL - PRE-TAX IMPAIRMENT AND RESTRUCTURING CHARGE OF $36.8 MILLION FOR QUARTER INCLUDED COSTS RELATED TO DOWNSIZING AS WELL AS RESTRUCTURING.COMPANY ESTIMATES TONS SOLD WILL BE DOWN 5% TO 7% IN Q4 OF 2018 COMPARED TO Q3 OF 2018.CURRENTLY EXPECTS NON-GAAP EARNINGS PER DILUTED SHARE TO BE IN RANGE OF $1.75 TO $1.85 FOR Q4 OF 2018..Q4 EARNINGS PER SHARE VIEW $1.83 -- THOMSON REUTERS I/B/E/S.  Full Article