Reliance Steel: 3Q Earnings Snapshot

LOS ANGELES (AP) _ Reliance Steel & Aluminum Co. (RS) on Thursday reported third-quarter earnings of $148.3 million.

The Los Angeles-based company said it had net income of $2.03 per share. Earnings, adjusted for non-recurring costs, came to $2.42 per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.

The metals service-center company posted revenue of $2.97 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $2.95 billion.

For the current quarter ending in December, Reliance Steel expects its per-share earnings to range from $1.75 to $1.85.

Reliance Steel shares have dropped 11 percent since the beginning of the year. The stock has decreased slightly more than 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RS at https://www.zacks.com/ap/RS