Reliance Steel & Aluminum Co. (NYSE: RS), Los Angeles, CA, reported sales for 2015 of $9.4 billion, a decrease of 10.5 percent from the previous year. Profit decreased 16.2 percent to $311.5 million.
Fourth quarter sales were $2 billion, a decrease of 21.4 percent from the same period a year ago. Profit decreased 25.7 percent to $68.6 million.
"Notwithstanding the slumping energy market and ongoing concerns over slowed growth in China, demand trends held up relatively well during the fourth quarter, yet were softer than anticipated," said Gregg Mollins, president and CEO. "Fourth quarter demand also reflected the normal seasonal slowdown caused by fewer shipping days due to the holiday season and holiday-related closures by many of our customers."
