Reliance Steel & Aluminum Full Year 2023 Earnings: EPS Beats Expectations
Reliance Steel & Aluminum (NYSE:RS) Full Year 2023 Results
Key Financial Results
Revenue: US$14.8b (down 13% from FY 2022).
Net income: US$1.34b (down 27% from FY 2022).
Profit margin: 9.0% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: US$22.90 (down from US$30.39 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Reliance Steel & Aluminum EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.6%.
Looking ahead, revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the US are expected to grow by 4.7%.
Performance of the American Metals and Mining industry.
The company's shares are up 9.0% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 2 warning signs for Reliance Steel & Aluminum you should be aware of, and 1 of them makes us a bit uncomfortable.
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