EARNINGS ROUNDUP / RELIANCE STEEL
Reliance Steel & Aluminum Co. reported fourth-quarter profit that surpassed analysts’ expectations.
The Los Angeles company said profit fell to $66.3 million, or 90 cents a share, from $79.9 million, or $1.06, a year earlier. The average estimate of seven analysts surveyed by Bloomberg was 64 cents a share, excluding some items.
Revenue rose 26% to $2.14 billion.
Reliance shares rose $4.17, or 20%, to $25.14.