February 20, 2009 |
Reliance Steel & Aluminum Co. reported fourth-quarter profit that surpassed analysts' expectations. The Los Angeles company said profit fell to $66.3 million, or 90 cents a share, from $79.9 million, or $1.06, a year earlier. The average estimate of seven analysts surveyed by Bloomberg was 64 cents a share, excluding some items. Revenue rose 26% to $2.14 billion. Reliance shares rose $4.17, or 20%, to $25.14.
October 17, 2008 |
Reliance Steel & Aluminum Co.'s third-quarter earnings climbed 63% partly because of gains from an acquisition, the Los Angeles company said. Net income increased to $152.5 million, or $2.07 a share, compared with $93.6 million, or $1.22, a year earlier. Quarterly sales jumped to a record $2.57 billion from $1.81 billion last year. Shares of Reliance gained $3.28 to $25.66.
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.