PHOENIX (AP) — PHOENIX (AP) — Reliance, Inc. (RS) on Wednesday reported fourth-quarter earnings of $116.5 million.
On a per-share basis, the Phoenix-based company said it had profit of $2.22. Earnings, adjusted for non-recurring costs, were $2.40 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.80 per share.
The metals service-center company posted revenue of $3.5 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $3.38 billion.
For the year, the company reported profit of $739.4 million, or $13.98 per share. Revenue was reported as $14.29 billion.
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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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