Olympic Steel Q2 EPS $1.24 Beats $1.22 Estimate, Sales $569.27M Miss $636.41M Estimate
Portfolio Pulse from Benzinga Newsdesk
Olympic Steel (NASDAQ:ZEUS) reported Q2 earnings of $1.24 per share, beating the analyst consensus estimate of $1.22 by 1.64%. However, this is a 61.96% decrease from the same period last year. The company's quarterly sales were $569.27 million, missing the analyst consensus estimate of $636.41 million by 10.55%, and marking a 19.73% decrease from the same period last year.
August 04, 2023 | 2:24 pm
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Olympic Steel's Q2 earnings beat estimates but are significantly down YoY. Sales also missed estimates and are down YoY.
Olympic Steel's earnings beat the estimates, which is a positive sign. However, the significant YoY decrease in both earnings and sales, as well as the missed sales estimate, could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100