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Olympic Steel First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Olympic Steel (NASDAQ:ZEUS) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$526.6m (down 8.1% from 1Q 2023).

  • Net income: US$8.70m (down 12% from 1Q 2023).

  • Profit margin: 1.7% (in line with 1Q 2023).

  • EPS: US$0.75 (down from US$0.85 in 1Q 2023).

earnings-and-revenue-history
earnings-and-revenue-history

All figures shown in the chart above are for the trailing 12 month (TTM) period

Olympic Steel EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) exceeded analyst estimates by 10%.

Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 4.9% growth forecast for the Metals and Mining industry in the US.

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Performance of the American Metals and Mining industry.

The company's shares are down 14% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Olympic Steel's balance sheet and an in-depth analysis of the company's financial position.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.