Olympic Steel (ZEUS) Misses Q4 EPS by 5c, Revenues Beat

Olympic Steel (NASDAQ: ZEUS) reported Q4 EPS of $0.14, $0.05 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $430 million versus the consensus estimate of $367.07 million.

“All three operating segments achieved record net sales in 2018,” said Chief Executive Officer Richard T. Marabito. “Building on the strong results generated in 2017, our 2018 results marked the third-most profitable year in our Company’s history.”

“On Jan. 2, 2019, we announced our acquisition of McCullough Industries. This is our first acquisition of a manufacturer of metal-intensive branded products,” Marabito said. “The vertical downstream advantages of the McCullough acquisition and capital expenditures in all three of our operating segments in 2018 advance our long-term growth strategy to deploy capital for higher financial returns while reducing volatility. We continue to seek additional manufacturers of branded products where we can deploy our purchasing, logistics and processing expertise to achieve synergies.”

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

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