Steel Mills
April 21, 2016
Reliance Releases 1Q Earnings
Written by Sandy Williams
Reliance Steel & Aluminum posted net income of $92.2 million on sales of $2.16 billion for first quarter 2016. Tons sold were up 8.9 percent from Q4 2015 with average selling price down 15.6 percent from a year ago and down 2.4 percent from the previous quarter.
Reliance sold 1,216,700 tons of carbon steel in first quarter, up 7.9 percent from Q4 2015 and down 3.2 percent year over year. Average selling price per ton for carbon steel was down 2.9 percent from Q4.
