Reliance Q2 2024 Adj EPS $4.65 Misses $4.73 Estimate, Sales $3.643B Miss $3.650B Estimate
Portfolio Pulse from Benzinga Newsdesk
Reliance (NYSE:RS) reported Q2 2024 earnings per share of $4.65, missing the analyst estimate of $4.73. The company also reported sales of $3.643 billion, slightly below the $3.650 billion estimate. This represents a 6.10% decrease in sales compared to the same period last year.
July 25, 2024 | 10:52 am
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Reliance (NYSE:RS) reported Q2 2024 earnings per share of $4.65, missing the analyst estimate of $4.73. The company also reported sales of $3.643 billion, slightly below the $3.650 billion estimate. This represents a 6.10% decrease in sales compared to the same period last year.
The earnings and sales figures both missed analyst estimates, which is likely to negatively impact the stock price in the short term. Additionally, the year-over-year decrease in sales by 6.10% adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100