SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — Reliance, Inc. (RS) on Thursday reported first-quarter profit of $302.9 million.
The Scottsdale, Arizona-based company said it had profit of $5.23 per share. Earnings, adjusted for one-time gains and costs, were $5.30 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $5.51 per share.
The metals service-center company posted revenue of $3.64 billion in the period.
For the current quarter ending in June, Reliance expects its per-share earnings to range from $4.70 to $4.90.
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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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