June 25, 2008 |
Reliance Steel & Aluminum Co., the largest U.S. metals distributor, boosted its second-quarter earnings forecast as carbon-steel prices advanced. The Los Angeles company raised its forecast to $2 to $2.10 a share from $1.50 to $1.60 as prices for carbon-steel products "increased more significantly and more rapidly than we had anticipated," Chief Executive David H. Hannah said.
October 19, 2007 |
Metals processor and distributor Reliance Steel & Aluminum Co. said its third-quarter profit slipped 13% because of softer demand for some products and declines in stainless-steel prices. Net income was $93.6 million, or $1.22 a share, compared with $107.5 million, or $1.41, a year earlier, the Los Angeles-based company said. Revenue rose 11% to $1.81 billion. The earnings came in below the average forecast of analysts of $1.34 a share, according to data compiled by Reuters Estimates.
February 16, 2007 |
Reliance Steel & Aluminum Co., a metal-products distributor, said that fourth-quarter earnings rose 23% with help from acquisitions and predicted that 2007 profit would top last year's record. Net income rose to $74.6 million, or 98 cents a share, from $60.6 million, or 91 cents, a year earlier, Los Angeles-based Reliance Steel said. Revenue in the quarter surged 81% to $1.57 billion. Profit still trailed analysts' estimates. Wall Street, on average, expected Reliance to make $1.
July 12, 2006 |
Reliance Steel & Aluminum Co. agreed to buy Yarde Metals Inc., which processes and distributes stainless-steel and aluminum-plate products, to increase sales in the Northeast. Yarde Metals had sales of $385 million in the year ended June, Los Angeles-based Reliance said. Reliance said it expected the transaction to be completed within 60 days. The purchase price wasn't disclosed.
January 18, 2006 |
Los Angeles-based Reliance Steel & Aluminum Co. agreed to acquire Lynwood-based Earle M. Jorgensen Co. for $13 a share, or about $934 million, Reliance announced late Tuesday. The planned merger would bring together two Southland companies capitalizing on growing global demand for steel and other metal products. Reliance is one of the nation's largest metal processing companies, while Jorgensen is one of the largest distributors of metal products in North America.
February 18, 2005 |
Reliance Steel & Aluminum Co., a Los Angeles-based metals distributor, said Thursday that fourth-quarter profit more than quadrupled because of soaring product prices. Reliance, which supplies processed metal parts to construction companies and equipment manufacturers, reported net income of $43 million, or $1.31 a share, for the quarter ended Dec. 31, compared with $9.7 million, or 30 cents, a year earlier.