Reliance reports Q3 adjusted EPS $3.64, consensus $3.66

Reports Q3 revenue $3.42B, consensus $3.38B. “Our businesses continued to execute well through challenging market conditions in the third quarter, once again outperforming the industry in shipments while maintaining a gross profit margin within our sustainable range, which we refer to as smart, profitable growth,” said Karla Lewis, President and Chief Executive Officer of Reliance (RS). “Although metals pricing declined more than anticipated, the inherent resilience of our business model servicing diverse end markets with expansive value-added processing capabilities and quick-turn orders, as well as increased volume, helped mitigate the impact of lower pricing levels to our gross profit margin and supported non-GAAP earnings per diluted share of $3.64, in-line with our guidance.”