Olympic Steel (NASDAQ:ZEUS) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$470.0m (down 11% from 3Q 2023).

• Net income: US$2.73m (down 78% from 3Q 2023).

• Profit margin: 0.6% (down from 2.3% in 3Q 2023). The decrease in margin was driven by lower revenue.

• EPS: US$0.23 (down from US$1.06 in 3Q 2023).

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

Olympic Steel Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) also missed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 1.7% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Metals and Mining industry in the US.

Performance of the American Metals and Mining industry.

The company's shares are down 5.5% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Olympic Steel's balance sheet.

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