Reliance Q3 2024 Adj. EPS $3.64 Misses $3.66 Estimate, Sales $3.420B Beat $3.379B Estimate
Portfolio Pulse from Benzinga Newsdesk
Reliance (NYSE:RS) reported Q3 2024 earnings per share of $3.64, slightly missing the analyst estimate of $3.66. However, the company exceeded sales expectations with $3.420 billion, surpassing the $3.379 billion estimate. Sales decreased by 5.60% compared to the same period last year.
October 24, 2024 | 10:52 am
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Reliance's Q3 2024 earnings per share of $3.64 missed the analyst estimate of $3.66, but sales of $3.420 billion exceeded expectations. Sales were down 5.60% year-over-year.
The slight miss in EPS might cause some concern, but the beat in sales could offset this. The year-over-year sales decline is notable but not unexpected given market conditions. Overall, the mixed results may lead to a neutral short-term impact on the stock price.
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