Reliance, Inc. Q4 Profit Decreases, Misses Estimates

Reliance Steel & Aluminum

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(RTTNews) - Reliance, Inc. (RS) announced a profit for fourth quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $105.3 million, or $1.93 per share. This compares with $272.7 million, or $4.70 per share, last year.

Excluding items, Reliance, Inc. reported adjusted earnings of $121.2 million or $2.22 per share for the period.

Analysts on average had expected the company to earn $2.72 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 6.3% to $3.126 billion from $3.337 billion last year.

Reliance, Inc. earnings at a glance (GAAP) :

-Earnings: $105.3 Mln. vs. $272.7 Mln. last year. -EPS: $1.93 vs. $4.70 last year. -Revenue: $3.126 Bln vs. $3.337 Bln last year.

-Guidance: Next quarter EPS guidance: $3.30 to $3.50