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The company delivered a negative earnings surprise of 106.6%, on average, over the trailing four quarters. Its fourth-quarter results are expected to reflect lower selling prices and shipment volumes.
The stock is down 10.4% in the past year compared with the industry’s 11% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Do the Estimates Say?
Ryerson Holding, in its third-quarter call, said that it expects fourth-quarter net sales in the range of $1.00-$1.15 billion. It also sees earnings per share in the range of 18-22 cents.
The Zacks Consensus Estimate for RYI’s fourth-quarter sales is currently pegged at $1,124.4 million, calling for a decline of 12.7% from the year-ago quarter’s tally.
Some Factors at Play
The company is expected to have witnessed continued weakness in prices in the fourth quarter. RYI saw a decrease in prices across its product mix in the third quarter. It sees a 3-5% sequential decline in average selling prices in the fourth quarter. Lower selling prices are expected to have weighed the company’s sales and margins in the quarter to be reported.
Weaker shipment volumes are also likely to have impacted the company’s top line in the December quarter. RYI faced headwinds from unfavorable market conditions in the third quarter stemming from shifting consumer spending patterns, higher interest rates, tightening credit conditions, a slowdown in manufacturing activities and the economic slowdown in Europe and China. For the fourth quarter, Ryerson expects a typical seasonal industry demand pattern. It sees a 4-7% decline in customer shipments from the previous quarter’s levels.
Ryerson Holding Corporation Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Ryerson Holding this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Ryerson Holding is 0.00%. The Zacks Consensus Estimate for fourth-quarter earnings is currently pegged at 24 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ryerson Holding currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
The consensus estimate for ERO’s earnings for the fourth quarter is currently pegged at 26 cents.
Eldorado Gold Corporation (EGO - Free Report) , slated to release earnings on Feb 22, has an Earnings ESP of +5.88% and carries a Zacks Rank #2 at present.
The consensus mark for EGO’s fourth-quarter earnings is currently pegged at 21 cents.
Franco-Nevada Corporation (FNV - Free Report) , scheduled to release fourth-quarter earnings on Mar 5, has an Earnings ESP of +0.63%.
The Zacks Consensus Estimate for FNV's earnings for the fourth quarter is currently pegged at 80 cents. FNV currently carries a Zacks Rank #3.
Image: Bigstock
Ryerson Holding (RYI) to Report Q4 Earnings: What's in the Offing?
Ryerson Holding Corporation (RYI - Free Report) is slated to report fourth-quarter 2023 results after the closing bell on Feb 21.
The company delivered a negative earnings surprise of 106.6%, on average, over the trailing four quarters. Its fourth-quarter results are expected to reflect lower selling prices and shipment volumes.
The stock is down 10.4% in the past year compared with the industry’s 11% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Do the Estimates Say?
Ryerson Holding, in its third-quarter call, said that it expects fourth-quarter net sales in the range of $1.00-$1.15 billion. It also sees earnings per share in the range of 18-22 cents.
The Zacks Consensus Estimate for RYI’s fourth-quarter sales is currently pegged at $1,124.4 million, calling for a decline of 12.7% from the year-ago quarter’s tally.
Some Factors at Play
The company is expected to have witnessed continued weakness in prices in the fourth quarter. RYI saw a decrease in prices across its product mix in the third quarter. It sees a 3-5% sequential decline in average selling prices in the fourth quarter. Lower selling prices are expected to have weighed the company’s sales and margins in the quarter to be reported.
Weaker shipment volumes are also likely to have impacted the company’s top line in the December quarter. RYI faced headwinds from unfavorable market conditions in the third quarter stemming from shifting consumer spending patterns, higher interest rates, tightening credit conditions, a slowdown in manufacturing activities and the economic slowdown in Europe and China. For the fourth quarter, Ryerson expects a typical seasonal industry demand pattern. It sees a 4-7% decline in customer shipments from the previous quarter’s levels.
Ryerson Holding Corporation Price and EPS Surprise
Ryerson Holding Corporation price-eps-surprise | Ryerson Holding Corporation Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for Ryerson Holding this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Ryerson Holding is 0.00%. The Zacks Consensus Estimate for fourth-quarter earnings is currently pegged at 24 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ryerson Holding currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
Ero Copper Corp. (ERO - Free Report) , scheduled to release earnings on Mar 7, has an Earnings ESP of +10.68% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for ERO’s earnings for the fourth quarter is currently pegged at 26 cents.
Eldorado Gold Corporation (EGO - Free Report) , slated to release earnings on Feb 22, has an Earnings ESP of +5.88% and carries a Zacks Rank #2 at present.
The consensus mark for EGO’s fourth-quarter earnings is currently pegged at 21 cents.
Franco-Nevada Corporation (FNV - Free Report) , scheduled to release fourth-quarter earnings on Mar 5, has an Earnings ESP of +0.63%.
The Zacks Consensus Estimate for FNV's earnings for the fourth quarter is currently pegged at 80 cents. FNV currently carries a Zacks Rank #3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.