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Reliance Steel: 2Q Earnings Snapshot

July 25, 2019

LOS ANGELES (AP) _ Reliance Steel & Aluminum Co. (RS) on Thursday reported second-quarter earnings of $183.1 million.

The Los Angeles-based company said it had profit of $2.69 per share. Earnings, adjusted for asset impairment costs, were $2.71 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.

The metals service-center company posted revenue of $2.88 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $2.91 billion.

For the current quarter ending in October, Reliance Steel expects its per-share earnings to range from $1.90 to $2.

Reliance Steel shares have increased 31% since the beginning of the year. The stock has risen 0.5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RS at https://www.zacks.com/ap/RS

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