Advertisement
New Zealand markets closed

  • NZX 50

    11,805.09
    -141.34 (-1.18%)
     

  • NZD/USD

    0.5940
    -0.0010 (-0.17%)
     

  • NZD/EUR

    0.5559
    +0.0019 (+0.34%)
     

  • ALL ORDS

    7,837.40
    -100.10 (-1.26%)
     

  • ASX 200

    7,575.90
    -107.10 (-1.39%)
     

  • OIL

    83.54
    -0.03 (-0.04%)
     

  • GOLD

    2,342.90
    +0.40 (+0.02%)
     

  • NASDAQ

    17,754.91
    +324.40 (+1.86%)
     

  • FTSE

    8,140.24
    +61.38 (+0.76%)
     

  • Dow Jones

    38,247.52
    +161.72 (+0.42%)
     

  • DAX

    18,170.35
    +253.07 (+1.41%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • NZD/JPY

    93.3940
    +0.8980 (+0.97%)
     

Reliance Steel's (RS) Q2 Earnings & Sales Beat Estimates

Zacks Equity Research
Updated

Reliance Steel & Aluminum Co. RS is a leading metals service center company engaged in value-added materials management and metals processing services.

Earnings

Reliance Steel’s adjusted earnings were $3.10 per share for the second quarter. It beat the Zacks Consensus Estimate of $2.71.
 
Revenues

Reliance Steel posted second-quarter revenues of $2,988.9 million, up 21% year over year. It surpassed the Zacks Consensus Estimate of $2,981.8 million.

Reliance Steel & Aluminum Co. Price and EPS Surprise

 

Reliance Steel & Aluminum Co. Price and EPS Surprise | Reliance Steel & Aluminum Co. Quote

ADVERTISEMENT

Estimate Trend & Surprise History

Investors should note that the earnings estimate for Reliance Steel for the second quarter has been going up over the last month. Reliance Steel has beaten the Zacks Consensus Estimate in all the trailing four quarters with an average beat of 11.6%.

Key Stats/Developments to Note

Reliance Steel expects tons sold to be down 2% to 4% in the third quarter of 2018 on a sequential comparison basis. Average selling prices are projected to be up 1% to 3% in the third quarter compared with the second quarter. Additionally, the company expects earnings per share to be in the band of $2.65 to $2.75 for the third quarter.

Zacks Rank

Reliance Steel currently has a Zacks Rank #2 (Buy). Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Market Reaction

Reliance Steel’s shares were inactive in pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on Reliance Steel’s earnings report!

The Hottest Tech Mega-Trend of All
                
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>
 


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Reliance Steel & Aluminum Co. (RS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research