We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Reliance Steel (RS) to Report Q4 Earnings: What's in Store?
Read MoreHide Full Article
Reliance Steel & Aluminum Co. (RS - Free Report) is scheduled to report fourth-quarter 2022 results before the opening bell on Feb 16.
The company surpassed Zacks Consensus Estimate for earnings in all of the last four quarters. It delivered a trailing four-quarter earnings surprise of around 13.6% on average. It pulled off an earnings surprise of 4.5% in the last reported quarter.
Reliance Steel is expected to have benefited from strong demand in key markets in the fourth quarter despite facing headwinds from inflation and supply chain disruptions. However, lower shipment volumes and selling prices might have been a drag on company’s sales and margins in the quarter to be reported.
RS’ shares have surged 39.3% in the past year against the industry’s fall of 14.3%.
Image Source: Zacks Investment Research
What Do the Estimates Say?
The Zacks Consensus Estimate for revenues for Reliance Steel for the fourth quarter is currently pegged at $3,652 million, indicating an 8.4% fall from the year-ago reported number.
The Zacks Consensus Estimate for shipments for the quarter currently stands at 1,303,000 tons, implying a 1.7% year-over-year rise but a 7.3% sequential decrease. The consensus estimate for average prices per ton sold stands at $2,802, suggesting a decline of 10.7% year over year and 7.8% sequentially.
Some Factors to Watch
RS is likely to have gained from healthy demand across its major markets like non-residential construction, aerospace, energy, semiconductor and automotive. These factors are expected to have supported its performance, despite headwinds from uncertain macroeconomic conditions, higher levels of inflation and supply chain disruptions.
However, shipment levels in the fourth quarter are expected to have been affected by seasonal factors and fewer shipping days, along with extended shutdowns due to holidays. Reliance Steel is also likely to have witnessed pricing pressure in the quarter to be reported. Prices for carbon, stainless and aluminum flat-rolled products are likely to have weakened in the quarter, partly offset by stable pricing in certain high-value products sold in some of the company’s key end markets. Lower selling prices are expected to have affected RS’ fourth-quarter margins.
Zacks Model
Our proven model does not conclusively predict an earnings beat for Reliance Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case.
Earnings Beat: Earnings ESP for Reliance Steel is 0.00%. The Zacks Consensus Estimate for earnings for the fourth quarter is currently pegged at $4.47. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Reliance Steel currently carries a Zacks Rank #1.
Reliance Steel & Aluminum Co. Price and EPS Surprise
Here are some companies in the Industrial Products space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
The Zacks Consensus Estimate for DMC Global’s fourth-quarter earnings has been revised 15.4% upward in the past 60 days. The consensus estimate for BOOM’s earnings for the fourth quarter is currently pegged at 30 cents.
AptarGroup, Inc. (ATR - Free Report) , scheduled to release earnings on Feb 16, has an Earnings ESP of +4.55% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for ATR’s earnings for the fourth quarter is currently pegged at 78 cents.
Deere & Company (DE - Free Report) scheduled to release earnings on Feb 17, has an Earnings ESP of +2.74% and carries a Zacks Rank #2.
The Zacks Consensus Estimate for DE’s earnings for the fiscal first quarter is currently pegged at $5.53.
Image: Bigstock
Reliance Steel (RS) to Report Q4 Earnings: What's in Store?
Reliance Steel & Aluminum Co. (RS - Free Report) is scheduled to report fourth-quarter 2022 results before the opening bell on Feb 16.
The company surpassed Zacks Consensus Estimate for earnings in all of the last four quarters. It delivered a trailing four-quarter earnings surprise of around 13.6% on average. It pulled off an earnings surprise of 4.5% in the last reported quarter.
Reliance Steel is expected to have benefited from strong demand in key markets in the fourth quarter despite facing headwinds from inflation and supply chain disruptions. However, lower shipment volumes and selling prices might have been a drag on company’s sales and margins in the quarter to be reported.
RS’ shares have surged 39.3% in the past year against the industry’s fall of 14.3%.
Image Source: Zacks Investment Research
What Do the Estimates Say?
The Zacks Consensus Estimate for revenues for Reliance Steel for the fourth quarter is currently pegged at $3,652 million, indicating an 8.4% fall from the year-ago reported number.
The Zacks Consensus Estimate for shipments for the quarter currently stands at 1,303,000 tons, implying a 1.7% year-over-year rise but a 7.3% sequential decrease. The consensus estimate for average prices per ton sold stands at $2,802, suggesting a decline of 10.7% year over year and 7.8% sequentially.
Some Factors to Watch
RS is likely to have gained from healthy demand across its major markets like non-residential construction, aerospace, energy, semiconductor and automotive. These factors are expected to have supported its performance, despite headwinds from uncertain macroeconomic conditions, higher levels of inflation and supply chain disruptions.
However, shipment levels in the fourth quarter are expected to have been affected by seasonal factors and fewer shipping days, along with extended shutdowns due to holidays. Reliance Steel is also likely to have witnessed pricing pressure in the quarter to be reported. Prices for carbon, stainless and aluminum flat-rolled products are likely to have weakened in the quarter, partly offset by stable pricing in certain high-value products sold in some of the company’s key end markets. Lower selling prices are expected to have affected RS’ fourth-quarter margins.
Zacks Model
Our proven model does not conclusively predict an earnings beat for Reliance Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case.
Earnings Beat: Earnings ESP for Reliance Steel is 0.00%. The Zacks Consensus Estimate for earnings for the fourth quarter is currently pegged at $4.47. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Reliance Steel currently carries a Zacks Rank #1.
Reliance Steel & Aluminum Co. Price and EPS Surprise
Reliance Steel & Aluminum Co. price-eps-surprise | Reliance Steel & Aluminum Co. Quote
Stocks That Warrant a Look
Here are some companies in the Industrial Products space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
DMC Global Inc. (BOOM - Free Report) , scheduled to release earnings on Feb 23, has an Earnings ESP of +7.86% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for DMC Global’s fourth-quarter earnings has been revised 15.4% upward in the past 60 days. The consensus estimate for BOOM’s earnings for the fourth quarter is currently pegged at 30 cents.
AptarGroup, Inc. (ATR - Free Report) , scheduled to release earnings on Feb 16, has an Earnings ESP of +4.55% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for ATR’s earnings for the fourth quarter is currently pegged at 78 cents.
Deere & Company (DE - Free Report) scheduled to release earnings on Feb 17, has an Earnings ESP of +2.74% and carries a Zacks Rank #2.
The Zacks Consensus Estimate for DE’s earnings for the fiscal first quarter is currently pegged at $5.53.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.