Reliance Steel & Aluminum Co. (NYSE:RS) is reporting third quarter earnings results on Thursday 22nd October 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 1.50 per share.
For the full year, analysts predict revenues of $ 8889.04 million, while looking forward to income of $ 7.03 per share.
Previous Quarter Performance
Reliance Steel & Aluminum Co. disclosed income for the second quarter of $ 1.36 per share, from the revenue of $ 2,019.00 million. The quarterly earnings declined 49.82 percent while revenues dropped 29.98 percent compared with the same quarter last year.
Street analysts expected Reliance Steel & Aluminum Co. to report income of $ 0.40 per share on revenue of $ 1969.27 million for the second quarter. The bottom line results beat street analysts by $ 0.96 or 240.00 percent, at the same time, top line results outshined analysts by $ 49.73 million or 2.53 percent.
Stock Performance
Shares of Reliance Steel & Aluminum Co. traded up $ 0.85 or 0.75 percent on Wednesday, reaching $ 113.09 with volume of 172.10 thousand shares. The stock opened positive for the day at $ 112.27, after closing the previous day trading at $ 112.24.
According to the previous trading day, closing price of $ 112.24, representing a 59.05 % increase from the 52 week low of $ 70.57 and a 8.13 % decrease over the 52 week high of $ 122.17.
The company has a market capital of $ 7.21 billion and is part of the Basic Materials sector and Steel industry.
Conference Call
Reliance Steel & Aluminum Co. will be hosting a conference call at 11:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.rsac.com
Reliance Steel & Aluminum Co. operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.
