Reliance's (RS) Earnings & Revenues Miss Estimates in Q1

Reliance, Inc. (RS) posted profits of $302.9 million or $5.23 per share in first-quarter 2024, down from $383.1 million or $6.43 per share in the year-ago quarter.Barring one-time items, the company recorded earnings of $5.30 per share. It lagged the Zacks Consensus Estimate of $5.51.The company recorded net sales of $3,644.8 million, down around 8.1% year over year. The top line lagged the Zacks Consensus Estimate of $3,733.1 million. Volumes and PricingReliance reported a 1.7% year-over-year decrease in s ...