09:06 AM EDT, 04/25/2024 (MT Newswires) -- Reliance (RS) reported Q1 non-GAAP earnings Thursday of $5.30 per diluted share, down from $6.37 a year earlier.

Analysts polled by Capital IQ expected $5.51.

Net sales for the quarter ended March 31 were $3.64 billion, down from $3.97 billion a year earlier.

Analysts surveyed by Capital IQ expected $3.75 billion.

For Q2, the company said it expects non-GAAP EPS of $4.70 to $4.90. Analysts polled by Capital IQ expect $5.38.

The company's board maintained its quarterly dividend at $1.10 per share, payable June 7 to shareholders of record as of May 24.

Shares of Reliance were down 1.5% in recent Thursday premarket activity.

Price: 308.90, Change: -4.66, Percent Change: -1.49