- Reliance Steel & Aluminum press release ( NYSE: RS ): Q2 Non-GAAP EPS of $9.15 beats by $0.13 .
- Revenue of $4.68B (+36.8% Y/Y) beats by $70M .
- As a result, the Company estimates tons sold will be down 3% to 5% in the third quarter of 2022 compared to the second quarter of 2022. In addition, Reliance expects its average selling price per ton sold for the third quarter of 2022 to be down 5% to 7% compared to the second quarter of 2022 driven by declines in pricing for many of its products, notably for carbon, stainless and aluminum flat-rolled products, partially offset by improving demand and pricing for higher value products sold into the aerospace, energy and semiconductor end markets. Based on these expectations, Reliance estimates non-GAAP earnings per diluted share in the range of $6.00 to $6.20 for the third quarter of 2022 vs. consensus of $6.45.
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Reliance Steel & Aluminum Non-GAAP EPS of $9.15 beats by $0.13, revenue of $4.68B beats by $70M