Yahoo Finance Ryerson Holding (RYI) to Report Q3 Earnings: What's in the Offing?
Ryerson Holding Corporation RYI is slated to report third-quarter 2022 results after the closing bell on Nov 2.
The company’s beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 28.9%, on average. The company posted an earnings surprise of 15.9% in the last reported quarter. Its third-quarter results are expected to reflect sequentially lower selling prices and volumes.
The stock is up 23.8% in the past year compared with the industry’s 15.4% decline.
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Let’s see how things are shaping up for this announcement.
What Do the Estimates Say?
Ryerson Holding, in its second-quarter call, said that it expects third-quarter revenues in the range of $1.45-$1.55 billion.
The Zacks Consensus Estimate for third-quarter consolidated revenues for the company is currently pegged at $1,490 million, which calls for a decline of around 5.4% year over year.
Some Factors at Play
Ryerson Holding is expected to have witnessed a decline in nickel, aluminum and carbon prices in the third quarter. Lower average selling prices are expected to have weighed on its margins in the quarter. The company expects average selling price to decrease of 5-8% sequentially in the third quarter.
The softening of demand due to the global economic slowdown is also likely to have affected volumes in the September quarter. The company expects shipments to decline 4-6% on a sequential comparison basis in the third quarter. Lower shipping volumes are likely to have hurt its top line in the to-be-reported quarter.
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 third-quarter earnings is currently pegged at $2.47. 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 #1.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider, as our model shows these have the right combination of elements to post an earnings beat this quarter:
Koppers Holdings Inc. KOP, slated to release earnings on Nov 4, has an Earnings ESP of +2.28% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Koppers’ third-quarter earnings has been revised 2.6% upward in the past 60 days. The consensus estimate for KOP’s earnings for the quarter is currently pegged at $1.17.
ATI Inc. ATI, scheduled to release earnings on Nov 2, has an Earnings ESP of +1.15%.
The Zacks Consensus Estimate for ATI's earnings for the third quarter is currently pegged at 52 cents. ATI currently carries a Zacks Rank #3.
Huntsman Corporation HUN, scheduled to release earnings on Nov 4, has an Earnings ESP of +3.59%.
The consensus estimate for Huntsman’s third-quarter earnings is currently pegged at 72 cents. HUN currently carries a Zacks Rank #3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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