Reliance Steel & Aluminum Co. (RS) on Thursday reported fourth-quarter profit of $92.3 million.
On a per-share basis, the Los Angeles-based company said it had profit of $1.18. Earnings, adjusted for one-time gains and costs, came to $1.01 per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The metals service-center company posted revenue of $2.58 billion in the period, also falling short of Street forecasts. Analysts expected $2.63 billion, according to Zacks.
For the year, the company reported profit of $371.5 million, or $4.73 per share. Revenue was reported as $10.45 billion.
For the current quarter ending in March, Reliance Steel expects its per-share earnings to range from $1 to $1.10.
Reliance Steel shares have dropped 11 percent since the beginning of the year. The stock has decreased 27 percent in the last 12 months.
Source: AP
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