While reporting financial results for the second quarter on Thursday, metals service center company Reliance Steel & Aluminum Co. (RS) said it expects adjusted earnings for the third quarter in a range of $5.55 to $5.75 per share, as the company expects its average selling price per ton sold for quarter to be up 7 to 9 percent.
On average, six analysts polled by Thomson Reuters expect the company to earn $4.16 per share for the quarter. Analysts' estimates usually exclude special items.
The Company also estimates that tons sold will be between down 1 percent and up 1 percent in the third 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 August 27, 2021 to stockholders of record as of August 13, 2021.
