Olympic Steel Inc reports results for the quarter ended in January 1 - Earnings Summary

Olympic Steel

01/11/2024 03:04

* Olympic Steel Inc  ZEUS.OQ  reported quarterly adjusted
earnings
of 23 cents​​ per share for the quarter ended January 1, lower
than the same quarter last year, when the company reported EPS
of 81 cents.  The mean expectation of three analysts for the
quarter was for earnings of 31 cents per share. Wall Street
expected results to range from 27 cents to 37 cents per share.
    * Revenue fell 10.7% to $470.00 million from a year ago;
analysts
expected $496.30 million. 
    * Olympic Steel Inc's reported EPS for the quarter was 23
cents​.
    * The company reported quarterly net income of $2.73
million.
    * Olympic Steel Inc shares had fallen by 6.7% this
quarter and
lost 45.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 40.6%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the iron & steel
peer
group is  "hold."

Wall Street's median 12-month price target for Olympic Steel Inc
is 50.50 
This summary was machine generated from LSEG data November 1 at
03:04 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.31           0.23           Missed
 Jun. 30 2024      0.55           0.66           Beat
 Mar. 31 2024      0.72           0.75           Beat
 Dec. 31 2023      0.30           0.64           Beat