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

Olympic Steel

02/08/2024 10:56

* Olympic Steel Inc  ZEUS.OQ  reported quarterly adjusted
earnings
of 66 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of $1.30.  The mean expectation of three analysts for the
quarter was for earnings of 55 cents per share. Wall Street
expected results to range from 51 cents to 57 cents per share.
    * Revenue fell 7.6% to $526.25 million from a year ago;
analysts
expected $536.88 million. 
    * Olympic Steel Inc's reported EPS for the quarter was 66
cents​.
    * The company reported quarterly net income of $7.66
million.
    * Olympic Steel Inc shares had risen by 5.8% this
quarter and
lost 28.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 43.6%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

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 $54.00 
This summary was machine generated from LSEG data August 2 at
09:56 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
 Jun. 30 2024      0.55           0.66           Beat
 Mar. 31 2024      0.72           0.75           Beat
 Dec. 31 2023      0.30           0.64           Beat
 Sep. 30 2023      0.85           0.81           Missed