Reliance Steel & Aluminum (NYSE:RS) reported its Q1 earnings results on Thursday, April 28, 2022 at 06:50 AM.
Here's what investors need to know about the announcement.
Earnings
Reliance Steel & Aluminum beat estimated earnings by 17.93%, reporting an EPS of $8.42 versus an estimate of $7.14.
Revenue was up $1.65 billion from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $1.61 which was followed by a 0.7% increase in the share price the next day.
Here's a look at Reliance Steel & Aluminum's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 5.22 | 5.95 | 4.73 | 3.51 |
| EPS Actual | 6.83 | 6.15 | 5.06 | 4.10 |
| Revenue Estimate | 3.83B | 3.74B | 3.14B | 2.78B |
| Revenue Actual | 3.99B | 3.85B | 3.42B | 2.84B |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Reliance Steel & Aluminum management provided guidance for Q2 2022, expecting earnings between $9.0 and $9.1 per share.
To track all earnings releases for Reliance Steel & Aluminum visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
