Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5984
    +0.0009 (+0.14%)
     
  • NZD/EUR

    0.5540
    +0.0007 (+0.13%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • NZD/JPY

    90.4820
    +0.0890 (+0.10%)
     

Reliance Steel's (RS) Q4 Earnings & Sales Beat Estimates

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 $1.22 per share for the fourth quarter. It beat the Zacks Consensus Estimate of $1.00.

 

Revenues

 

Reliance Steel posted fourth-quarter revenues of $2,376.4 million, up 15.3% year over year. It surpassed the Zacks Consensus Estimate of $2,307 million. 

Reliance Steel & Aluminum Co. Price and EPS Surprise

 

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

Estimate Trend & Surprise History

ADVERTISEMENT

Investors should note that the earnings estimate for Reliance Steel for the fourth 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 7.2%.

Key Stats/Developments to Note

Reliance Steel expects tons sold will be up 6% to 8% in the first quarter of 2018 on a sequential comparison basis. Average selling prices are projected to be up 4% to 6% in the first quarter compared with the fourth quarter. Additionally, the company expects earnings per share to be in the band of $1.90 to $2.00 for the first quarter.

Zacks Rank

Reliance Steel currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. 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 following the release. 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