Reliance (RS) reported Q1 non-GAAP earnings late Wednesday of $3.77 per diluted share, down from $5.30 a year earlier.

Analysts polled by FactSet expected $3.64.

Net sales for the quarter ended March 31 were $3.48 billion, down from $3.64 billion a year earlier.

Analysts surveyed by FactSet expected $3.44 billion.

The company expects Q2 non-GAAP diluted EPS between $4.50 and $4.70. Analysts polled by FactSet expect $4.69.

Reliance board on Monday kept the quarterly dividend at $1.20 per share, payable on June 6 to stockholders of record on May 23.