Olympic Steel Q1 2024 Adj EPS $0.77 Beats $0.72 Estimate, Sales $526.642M Miss $558.310M Estimate
Portfolio Pulse from Benzinga Newsdesk
Olympic Steel (NASDAQ:ZEUS) reported Q1 2024 adjusted EPS of $0.77, surpassing the $0.72 estimate, but its sales of $526.642M fell short of the $558.310M forecast. This represents a 33.04% decrease in earnings and an 8.10% decrease in sales from the same period last year.
May 02, 2024 | 8:39 pm
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Olympic Steel reported a mixed Q1 2024 with earnings beating estimates but sales missing expectations, indicating a decrease in both earnings and sales from the previous year.
The mixed results with an earnings beat but a miss on sales could lead to neutral short-term stock price movement. Investors might be encouraged by the earnings beat, but concerned about the sales miss and year-over-year declines.
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