Reliance Steel & Aluminum Co. reported Thursday first quarter net income of $87.2 million or $1.11 per share, compared to $83.7 million or $1.09 per share in Q1 2013.
Net sales for the quarter grew 26.1 percent to $2.55 billion from $2.03 billion a year earlier.
"As the US economy maintains its slow but steady recovery, Reliance expects metals pricing and demand to continue to improve throughout the second quarter," the company said in a statement.
Looking forward, the company expects earnings per share in the second quarter to be in the range of $1.30 to $1.40.