Olympic Steel (ZEUS) Tops Q1 EPS by 28c

Olympic Steel (NASDAQ: ZEUS) reported Q1 EPS of $0.68, $0.28 better than the analyst estimate of $0.40. Revenue for the quarter came in at $334.9 million versus the consensus estimate of $303.91 million.

“In addition to the strong financial performance from our carbon flat rolled segment, sales and profitability in our tubular and pipe and specialty metals segments also improved substantially during the quarter,” said Chairman and Chief Executive Officer Michael D. Siegal. “Shipping volume of specialty metals increased 17% versus the first quarter last year, and we earned record market share in nearly all of the products we sell.”

“Looking ahead, broad-based demand is improving and the business regulatory environment is becoming more favorable for domestic manufacturing. This is encouraging, and we expect the benefits of our previous capital investments and ongoing operating enhancements will continue to be reflected in future financial performance,” Siegal said.

For earnings history and earnings-related data on Olympic Steel (ZEUS) click here.

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