WASHINGTON (dpa-AFX) - 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.
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