Reliance: Q2 Earnings Snapshot

PHOENIX (AP) — PHOENIX (AP) — Reliance, Inc. (RS) on Wednesday reported second-quarter net income of $322.9 million.

The Phoenix-based company said it had profit of $6.29 per share. Earnings, adjusted for one-time gains and costs, came to $6.27 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $5.38 per share.

The metals service-center company posted revenue of $4.63 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $4.17 billion.

For the current quarter ending in September, Reliance expects its per-share earnings to range from $6.40 to $6.60.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RS at https://www.zacks.com/ap/RS