Olympic Steel Q3 2024 Adj. EPS $0.11 Misses $0.31 Estimate, Sales $469.996M Miss $496.300M Estimate
Portfolio Pulse from Benzinga Newsdesk
Olympic Steel (NASDAQ:ZEUS) reported Q3 2024 earnings of $0.11 per share, missing the $0.31 estimate. Sales were $469.996M, below the $496.300M estimate and down 10.72% from last year.
October 31, 2024 | 8:32 pm
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NEGATIVE IMPACT
Olympic Steel's Q3 2024 earnings and sales both missed analyst estimates, with EPS at $0.11 versus the expected $0.31 and sales at $469.996M versus the expected $496.300M. This represents a significant earnings miss and a year-over-year sales decline.
The significant miss on both EPS and sales estimates is likely to negatively impact Olympic Steel's stock price in the short term. The earnings per share were 64.52% below expectations, and sales were 5.30% below estimates, indicating weaker than expected financial performance. Additionally, the year-over-year sales decline of 10.72% adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100