Reliance Expects Q3 Adj EPS of $3.60-$3.80 Vs $4.51 Est
Portfolio Pulse from Benzinga Newsdesk
Reliance Steel & Aluminum Co. (RS) expects Q3 2024 adjusted EPS to be between $3.60 and $3.80, below the estimated $4.51. The company anticipates stable demand but lower shipment volumes due to seasonal patterns and lower average selling prices, particularly for carbon steel products.
July 25, 2024 | 10:54 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Reliance Steel & Aluminum Co. (RS) expects Q3 2024 adjusted EPS to be between $3.60 and $3.80, below the estimated $4.51. The company anticipates stable demand but lower shipment volumes due to seasonal patterns and lower average selling prices, particularly for carbon steel products.
The anticipated Q3 2024 adjusted EPS range of $3.60-$3.80 is significantly below the estimated $4.51, indicating potential short-term negative impact on the stock price. Lower shipment volumes and selling prices, particularly for carbon steel products, are expected to pressure margins.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100