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National Steel (SID) to Report Q2 Earnings: What's in Store?
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National Steel Company (SID - Free Report) is scheduled to report second-quarter 2021 results on Jul 28, after the market closes.
Which Way are the Estimates Headed?
The Zacks Consensus Estimate for second-quarter revenues is pinned at $2,944 million, suggesting growth of a whopping 154% from the prior-year period. The Zacks Consensus Estimate for earnings per share is pegged at $1.05 for the quarter, indicating a significant surge of 2000%.
Q1 Performance
In the last reported quarter, the Brazilian steel maker’s top- and bottom-line figures increased year over year and beat the respective Zacks Consensus Estimate. The company has a trailing four-quarter average earnings surprise of 96.3%.
Factors to Consider
National Steel is likely to have benefited from solid performance in the steel, mining and cement business in the second quarter, driven by strong demand for residential and civil construction as well as solid infrastructure activity in Brazil. These are likely to get reflected in the company’s top-line results for the quarter to be reported.
The company’s steel sales are gaining traction from solid demand recovery in the automotive and domestic markets as well as increase in foreign market sales. This is to be noted that during first-quarter 2021, the company’s steel sales reached the highest volume in the last six years. Healthy demand trend is translating into higher prices for steel, which is anticipated to have driven National Steel’s margin in the June-end quarter.
National Steel’s mining business has returned to normal levels after being impacted by heavy rainfall. Resumption of mining volumes, along with the company’s efforts to increase operational efficiency and lower cost of production, is likely to have boosted its margins in the second quarter.
Our proven model doesn’t conclusively predict an earnings beat for National Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for National Steel is 0.00%.
National Steel’s shares have appreciated 48.9% so far this year, outperforming the industry’s rally of 39.9%.
Image Source: Zacks Investment Research
Stocks Worth a Look
Here are some Basic Materials stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
LyondellBasell Industries N.V. (LYB - Free Report) has an Earnings ESP of +9.93% and sports a Zacks Rank of 1, at present.
Celanese Corporation (CE - Free Report) , currently a Zacks #2 Ranked stock, has an Earnings ESP of +7.01%.
Eastman Chemical Company (EMN - Free Report) has an Earnings ESP of +2.11% and carries a Zacks Rank #3, currently.
See More Zacks Research for These Tickers
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National Steel (SID) to Report Q2 Earnings: What's in Store?
National Steel Company (SID - Free Report) is scheduled to report second-quarter 2021 results on Jul 28, after the market closes.
Which Way are the Estimates Headed?
The Zacks Consensus Estimate for second-quarter revenues is pinned at $2,944 million, suggesting growth of a whopping 154% from the prior-year period. The Zacks Consensus Estimate for earnings per share is pegged at $1.05 for the quarter, indicating a significant surge of 2000%.
Q1 Performance
In the last reported quarter, the Brazilian steel maker’s top- and bottom-line figures increased year over year and beat the respective Zacks Consensus Estimate. The company has a trailing four-quarter average earnings surprise of 96.3%.
Factors to Consider
National Steel is likely to have benefited from solid performance in the steel, mining and cement business in the second quarter, driven by strong demand for residential and civil construction as well as solid infrastructure activity in Brazil. These are likely to get reflected in the company’s top-line results for the quarter to be reported.
The company’s steel sales are gaining traction from solid demand recovery in the automotive and domestic markets as well as increase in foreign market sales. This is to be noted that during first-quarter 2021, the company’s steel sales reached the highest volume in the last six years. Healthy demand trend is translating into higher prices for steel, which is anticipated to have driven National Steel’s margin in the June-end quarter.
National Steel’s mining business has returned to normal levels after being impacted by heavy rainfall. Resumption of mining volumes, along with the company’s efforts to increase operational efficiency and lower cost of production, is likely to have boosted its margins in the second quarter.
National Steel Company Price and EPS Surprise
National Steel Company price-eps-surprise | National Steel Company Quote
What Our Model Indicates?
Our proven model doesn’t conclusively predict an earnings beat for National Steel this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for National Steel is 0.00%.
Zacks Rank: National Steel currently flaunts a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Price Performance
National Steel’s shares have appreciated 48.9% so far this year, outperforming the industry’s rally of 39.9%.
Image Source: Zacks Investment Research
Stocks Worth a Look
Here are some Basic Materials stocks, which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
LyondellBasell Industries N.V. (LYB - Free Report) has an Earnings ESP of +9.93% and sports a Zacks Rank of 1, at present.
Celanese Corporation (CE - Free Report) , currently a Zacks #2 Ranked stock, has an Earnings ESP of +7.01%.
Eastman Chemical Company (EMN - Free Report) has an Earnings ESP of +2.11% and carries a Zacks Rank #3, currently.