SEC Filings

10-Q
RELIANCE STEEL & ALUMINUM CO filed this Form 10-Q on 05/02/2019
Entire Document
 

RELIANCE STEEL & ALUMINUM CO.

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share amounts)

 

 

 

 

 

 

 

Three Months Ended

 

March 31,

 

2019

    

2018

Net sales

$

2,956.6

 

$

2,757.1

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

Cost of sales (exclusive of depreciation and amortization shown below)

 

2,089.7

 

 

1,937.2

Warehouse, delivery, selling, general and administrative

 

532.1

 

 

519.4

Depreciation and amortization

 

54.0

 

 

54.1

 

 

2,675.8

 

 

2,510.7

 

 

 

 

 

 

Operating income

 

280.8

 

 

246.4

 

 

 

 

 

 

Other expense:

 

 

 

 

 

Interest expense

 

24.2

 

 

19.3

Other expense, net

 

1.1

 

 

1.9

Income before income taxes

 

255.5

 

 

225.2

Income tax provision

 

63.9

 

 

54.1

Net income

 

191.6

 

 

171.1

Less: Net income attributable to noncontrolling interests

 

1.5

 

 

2.1

Net income attributable to Reliance

$

190.1

 

$

169.0

 

 

 

 

 

 

Earnings per share attributable to Reliance stockholders:

 

 

 

 

 

Diluted

$

2.80

 

$

2.30

Basic

$

2.83

 

$

2.32

 

 

 

 

 

 

Cash dividends per share

$

0.55

 

$

0.50

 

See accompanying notes to unaudited consolidated financial statements.

 

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