Olympic Steel (ZEUS) to Report Q1 Earnings: What's in Store?
Olympic Steel, Inc. ZEUS will release first-quarter 2023 results after the closing bell on May 4.
The company has a trailing four-quarter earnings surprise of 26.2%, on average. Its first-quarter results are likely to reflect improved metal prices and steady end-market demand.
Shares of Olympic Steel have gained 32.7% in the past year compared with the 0.2% decline of the industry.
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Let’s see how things are shaping up for this announcement.
What do the Estimates Say?
The Zacks Consensus Estimate for first-quarter sales for Olympic Steel is currently pegged at $596.6 million, which suggests a decline of around 14.3% year over year.
A Few Factors to Watch
Olympic Steel’s results in the first quarter are likely to reflect the strength in its pipe and tube and specialty metals businesses. Its pipe and tube unit is benefiting from continued investments in tube fabrication.
The company is also likely to have benefited from increased metal products prices. Higher metal prices are expected to have supported its margins in the first quarter. It is also expected to have witnessed improved customer shipments in the quarter and steady demand from major industrial OEMs. ZEUS is also expected to have gained from its acquisition and diversification strategy and actions to manage operating expenses.
Olympic Steel, Inc. Price and EPS Surprise
Olympic Steel, Inc. price-eps-surprise | Olympic Steel, Inc. Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for Olympic Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Olympic Steel is 0.00%. The Zacks Consensus Estimate for earnings for the first quarter is currently pegged at 88 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Olympic Steel currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
Koppers Holdings Inc. KOP, slated to release earnings on May 5, has an Earnings ESP of +12.66%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Koppers’ earnings for the first quarter is pegged at 76 cents. KOP currently carries a Zacks Rank #3.
Air Products and Chemicals, Inc. APD, slated to release earnings on May 9, has an Earnings ESP of +2.25%.
The consensus estimate for Air Products’ earnings for the fiscal second quarter is currently pegged at $2.64. APD currently carries a Zacks Rank #3.
Pan American Silver Corp. PAAS, scheduled to release earnings on May 10, has an Earnings ESP of +28.57% and currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Pan American Silver’s first-quarter earnings has been revised 133.3% upward in the past 60 days. The consensus estimate for PAAS’ earnings for the first quarter is currently pegged at 7 cents.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Air Products and Chemicals, Inc. (APD) : Free Stock Analysis Report
Koppers Holdings Inc. (KOP) : Free Stock Analysis Report
Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
Pan American Silver Corp. (PAAS) : Free Stock Analysis Report
