Reliance, Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Reliance, Inc. (RS) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $199.7 million, or $3.74 per share. This compares with $302.9 million, or $5.23 per share, last year.

Excluding items, Reliance, Inc. reported adjusted earnings of $201.4 million or $3.77 per share for the period.

Analysts on average had expected the company to earn $3.74 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 4.4% to $3.484 billion from $3.644 billion last year.

Reliance, Inc. earnings at a glance (GAAP) :

-Earnings: $199.7 Mln. vs. $302.9 Mln. last year. -EPS: $3.74 vs. $5.23 last year. -Revenue: $3.484 Bln vs. $3.644 Bln last year.