Reliance Steel & Aluminum Q4 Adj. EPS $4.73 Beats $3.92 Estimate, Sales $3.34B Beat $3.30B Estimate
Portfolio Pulse from Benzinga Newsdesk
Reliance Steel & Aluminum (RS) reported Q4 adjusted EPS of $4.73, surpassing the $3.92 estimate, with sales of $3.34B also beating the $3.30B estimate. However, this represents a decrease from the previous year's earnings and sales.
February 15, 2024 | 11:54 am
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Reliance Steel & Aluminum reported higher-than-expected Q4 earnings and sales, but both metrics decreased compared to last year.
The positive earnings and sales beat are likely to have a short-term positive impact on RS's stock price, despite the year-over-year decline. The beat indicates operational efficiency and could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100