Baldor Electric Company: Reliance Steel: Q4 Earnings Snapshot

SCOTTSDALE, Ariz. (AP) - SCOTTSDALE, Ariz. (AP) - Reliance Steel & Aluminum Co. (RS) on Thursday reported fourth-quarter net income of $272.7 million. On a per-share basis, the Scottsdale, Arizona-based company said it had net income of $4.70. Earnings, adjusted for non-recurring costs, came to $4.73 per share. The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.86 per share. The metals service-center company posted revenue of $3.34 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $3.28 billion. For the year, the company reported profit of $1.34 billion, or $22.64 per share. Revenue was reported as $14.81 billion. _____ 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