Reliance Steel & Aluminum Expects Tons Sold to Be Up 9% To 11% Q/Q, Average Selling Price Per Ton Sold To Be Up 1.0% To 3.0% Q/Q in Q1
Portfolio Pulse from Benzinga Newsdesk
Reliance Steel & Aluminum anticipates an increase in tons sold by 9% to 11% and an average selling price per ton to rise by 1.0% to 3.0% for Q1 on a quarter-over-quarter basis.
February 15, 2024 | 11:59 am
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POSITIVE IMPACT
Reliance Steel & Aluminum expects a significant increase in both volume sold and average selling price per ton in Q1.
The anticipated increase in tons sold and average selling price per ton suggests a positive outlook for Reliance Steel & Aluminum's financial performance in Q1. This is likely to be viewed favorably by investors, potentially leading to a short-term increase in the stock price.
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IMPORTANCE 90
RELEVANCE 100