Olympic Steel (ZEUS) Tops Q4 EPS by 2c

Olympic Steel (NASDAQ: ZEUS) reported Q4 EPS of ($0.19), $0.02 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $254.9 million versus the consensus estimate of $245.59 million.

“Despite another challenging year, we observed a definitive market swing during the fourth quarter,” said Chairman and Chief Executive Officer Michael D. Siegal. “Pricing, demand and customer sentiment all improved as the quarter progressed.”

“Our commitment to customer performance earned us record market share during 2016, per MSCI data,” Siegal added. “At the same time, our emphasis on continuous improvement led to reducing operating expenses by 3%, or $7 million, excluding 2015’s impairment charges.”

“The positive industry trends that began in last year’s fourth quarter have continued in the first quarter of 2017, validating optimism for the first half of this year,” Siegal concluded.

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

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