Reliance Issues Strong 3Q Results; We've Raised Our Near-Term Profit Outlook, but $64 FVE Unchanged
Reliance Steel & Aluminum continued its strong 2017 with impressive third-quarter results. The company generated a 6.5% operating margin in the quarter, a substantial increase from only 4.3% in the prior-year period. In addition to higher profitability, the company's same-store tons sold grew 5.2% year on year. With third-quarter results modestly exceeding our expectations, we've raised our full-year profit outlook. We now forecast adjusted EBITDA of $861 million and earnings of $5.20 per sh...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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