(OS) - Oregon Steel Mills, Inc. - exceeded earnings estimates in its second quarter by almost 26%

Oregon Steel exceeded earnings estimates in its second quarter by almost 26%. All five analysts covering the stock lifted their earnings projections both for this year and next. Over the past 90 days, this year's estimates have increased 13.1% to $5.11 per share. Full Analysis Oregon Steel Mills, Inc. (OS), together with its subsidiaries, engages in the manufacture and sale of specialty and commodity steel products in the United States and Canada. The company operates in two divisions, Oregon Steel and Rocky Mountain Steel Mills. OS will report third-quarter earnings in early-November. Analysts currently expect $1.35 per share, up 10 cents from three months ago and more than double the 57 cents earned last year. The company's last quarterly report was stellar. Quarterly net income grew to $43.9 million, or $1.22 per share, from $28.4 million, or 80 cents per share, in the year-ago period. Sales grew to $349.6 million from $335 million last year. During the quarter, Oregon Steel boosted its average sales price per ton to $889 from $882 last year. Jim Declusin, the Company's President and CEO stated, "Oregon Steel is pleased to announce record financial performance during the second quarter. All of our market segments performed well during the second quarter and are forecasted to remain strong through the rest of the year. During the second half of the year, we see our total volume increasing to record levels and our product mix shifting to a greater percentage of higher priced, higher margin energy-related products." Oregon Steel exceeded earnings estimates in its second quarter by almost 26%. All five analysts covering the stock lifted their earnings projections both for this year and next. Over the past 90 days, this year's estimates have increased 13.1% to $5.11 per share. The stock is attractively valued at 9.8x next year's estimates of $5.55 per share, below the long-term growth rate of 15%, giving the stock a PEG ratio of 0.66. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home