Wall Street analysts expect Reliance (RS) to post quarterly earnings of $2.80 per share in its upcoming report, which indicates a year-over-year increase of 26.1%. Revenues are expected to be $3.38 billion, up 8.2% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Reliance metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Net Sales- Carbon Steel' to come in at $1.84 billion. The estimate points to a change of +9.5% from the year-ago quarter.
Analysts forecast 'Net Sales- Alloy' to reach $146.15 million. The estimate points to a change of +2.1% from the year-ago quarter.
According to the collective judgment of analysts, 'Net Sales- Stainless Steel' should come in at $476.93 million. The estimate indicates a change of +0.8% from the prior-year quarter.
The combined assessment of analysts suggests that 'Net Sales- Aluminium' will likely reach $587.58 million. The estimate suggests a change of +10% year over year.
Analysts' assessment points toward 'Average selling price per ton sold' reaching $2275.56 . Compared to the present estimate, the company reported $2170.00 in the same quarter last year.
The consensus estimate for 'Shipments (Tons sold)' stands at 1.51 million. The estimate compares to the year-ago value of 1.44 million.
The consensus among analysts is that 'Tons Sold - Aluminium' will reach 77.25 thousand. Compared to the present estimate, the company reported 75.80 thousand in the same quarter last year.
The average prediction of analysts places 'Tons Sold - Stainless steel' at 70.95 thousand. Compared to the present estimate, the company reported 67.70 thousand in the same quarter last year.
Based on the collective assessment of analysts, 'Tons Sold - Alloy' should arrive at 28.06 thousand. The estimate compares to the year-ago value of 27.80 thousand.
Analysts predict that the 'Tons Sold - Carbon steel' will reach 1.26 million. The estimate compares to the year-ago value of 1.19 million.
View all Key Company Metrics for Reliance here>>>
Reliance shares have witnessed a change of +14.2% in the past month, in contrast to the Zacks S&P 500 composite's -0.3% move. With a Zacks Rank #3 (Hold), RS is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Reliance, Inc. (RS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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