Metals USA Holdings Corp. (MUSA: Quote) Wednesday reported a rise in profit for the first quarter as revenues rose 22 percent.
The Fort Lauderdale, Florida-based company reported a first-quarter net profit of $16.3 million or $0.44 per share, compared to $12.4 million or $0.33 per share last year.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 22 percent to $525.3 million from $432.3 million in the prior-year quarter. Seven analysts had a consensus revenue estimate of $500.07 million for the quarter.
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by RTT Staff Writer
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