Reliance Steel & Aluminum Q3 Adj. EPS $5.00, Inline, Sales $3.62B Beat $3.62B Estimate
Portfolio Pulse from Benzinga Newsdesk
Reliance Steel & Aluminum (NYSE:RS) reported Q3 adjusted earnings of $5.00 per share, meeting analyst consensus. This is a 22.84% decrease from the same period last year. The company's quarterly sales of $3.62 billion beat the analyst consensus estimate by 0.08%, but this is a 14.69% decrease from last year.
October 26, 2023 | 10:52 am
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Reliance Steel & Aluminum's Q3 earnings met expectations but decreased 22.84% YoY. Sales beat estimates but are down 14.69% YoY.
Reliance Steel & Aluminum's earnings met analyst expectations, which is positive. However, the YoY decrease in both earnings and sales could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100