OLYMPIC STEEL INC (ZEUS) May 2024 Earnings Report

Olympic Steel, Inc. (ZEUS): Investment Report

Overview

Olympic Steel, Inc. is a leading metal processing and distribution company operating in the United States, Canada, and Mexico. With a market capitalization of $604.16 million, the company offers a diverse range of products and services to various industries. In this report, we will provide an in-depth analysis of Olympic Steel's financial performance, growth prospects, and recent developments.

Core Metrics

  • Current price: $54.27 USD
  • 52-week high: $73.49
  • 52-week low: $40.85
  • Market Cap: $604.16 million
  • P/E Ratio: 14.472
  • Earnings per Share: $3.75
  • 50-day average: $64.3244
  • 200-day average: $59.3191
  • Analyst Recommendations: Buy (1 analyst)

Financial Performance

Olympic Steel, Inc. has demonstrated a strong financial performance in recent years. The company's revenue has been consistent, with a slight decline in 2023. The gross margin has been stable, indicating efficient cost management. The operating cash flow has increased significantly, suggesting improved liquidity.

  • Revenue: $103.4 million
  • Gross Margin: 22.36%
  • Operating Cash Flow: $120.11 million
  • EBITDA: $106.96 million
  • Free Cash Flow: $84.92 million

Growth Prospects

Olympic Steel, Inc. has a strong presence in the metal processing and distribution industry, with a diverse customer base and a wide range of products. The company's focus on value-added services, such as cutting, slitting, and blanking, positions it for future growth. The increasing demand for sustainable and eco-friendly products is expected to drive growth in the industry.

News and Updates

Recent news articles have highlighted the company's commitment to sustainability and its efforts to reduce environmental impact. The company's products and services are expected to benefit from the growing demand for eco-friendly solutions.

Upgrades and Downgrades

In 2017, Keybanc downgraded Olympic Steel, Inc. from Overweight to Sector Weight. However, Macquarie upgraded the company from Neutral to Outperform in the same year. In 2016, Jefferies maintained a Hold rating on the stock.

Summary

Olympic Steel, Inc. is a well-established company with a strong presence in the metal processing and distribution industry. The company's financial performance has been consistent, and its focus on value-added services positions it for future growth. With a Buy rating from one analyst, Olympic Steel, Inc. is an attractive investment opportunity for those seeking exposure to the basic materials sector.