While reporting financial results for the first quarter on Thursday, metals service center company Reliance Steel & Aluminum Co. (RS) said it expects adjusted earnings for the second quarter in a range of $4.20 to $4.40 per share, as the company expects its average selling price per ton sold for quarter to be up 5 to 7 percent.
On average, six analysts polled by Thomson Reuters expect the company to earn $3.27 per share for the quarter. Analysts' estimates usually exclude special items.
The Company also estimates that tons sold will be flat to up 2 percent in the second quarter of 2021 compared to the prior quarter.
On Tuesday, the Board of Directors declared a quarterly cash dividend of $0.6875 per share of common stock, payable on June 11, 2021 to stockholders of record as of May 28, 2021.
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