Reliance, Inc. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Reliance, Inc. (RS) reported a profit for third quarter that Decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $189.5 million, or $3.59 per share. This compares with $199.2 million, or $3.61 per share, last year.

Excluding items, Reliance, Inc. reported adjusted earnings of $192.3 million or $3.64 per share for the period.

Analysts on average had expected the company to earn $3.73 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 6.8% to $3.651 billion from $3.420 billion last year.

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

-Earnings: $189.5 Mln. vs. $199.2 Mln. last year. -EPS: $3.59 vs. $3.61 last year. -Revenue: $3.651 Bln vs. $3.420 Bln last year.

-Guidance: Next quarter EPS guidance: $2.65 to $2.85