RTTNews | Jul 23, 2020 08:22AM EDT

08:22 Thursday, July 23, 2020 (RTTNews.com) - Reliance Steel & Aluminum (RS) released earnings for second quarter that decreased from the same period last year.

The company's profit totaled $80.2 million, or $1.26 per share. This compares with $183.1 million, or $2.73 per share, in last year's second quarter.

Excluding items, Reliance Steel & Aluminum reported adjusted earnings of $88.0M or $1.36 per share for the period.

Analysts had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 29.9% to $2.02 billion from $2.88 billion last year.

Reliance Steel & Aluminum earnings at a glance:

-Earnings (Q2): $88.0M. vs. $184.0M. last year.-EPS (Q2): $1.36 vs. $2.71 last year.-Analysts Estimate: $0.40-Revenue (Q2): $2.02 Bln vs. $2.88 Bln last year.

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