20
Jun
16:44
Pricing uncertainty hacks into Reliance margin
US service centre chain Reliance Steel & Aluminum has revised its expected earnings for the second quarter downward, Kallanish reports.
Reliance cut its earnings estimate for the quarter ended 30 June to $1.30-1.40/share from its previous estimate of $1.50-1.60/share. In the first quarter, Reliance reported a net profit of $1.52/share, or $111.7 million.
“As a result of challenging market conditions, the positive momentum experienced for both demand…
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