Olympic Steel Inc
Change company Symbol lookup
Select an option...
ZEUS Olympic Steel Inc
EJH E-Home Household Service Holdings Ltd
AMZN Amazon.com Inc
BGTTF Goat Industries Ltd
BRDS Bird Global Inc
GHM Graham Corp
DRMA Dermata Therapeutics Inc
VGAS Verde Clean Fuels Inc
CURV Torrid Holdings Inc
INTC Intel Corp

Materials : Metals & Mining | Small Cap Growth
Company profile

Olympic Steel, Inc. is a metals service center company. The Company provides metals processing and distribution services to a range of customers. It operates through three segments: specialty metals flat products, carbon flat products, and tubular and pipe products. Specialty metals flat products segment is engaged in the direct sale and distribution of processed aluminum and stainless flat-rolled sheet and coil products, flat bar products, prime tin mill products and fabricated parts. Carbon flat products segment is engaged in the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts. Tubular and pipe products segment distribute metal tubing, pipe, bar, valve and fittings and fabricates pressure parts supplied to various industrial markets. The tubular and pipe products segment consist of the Chicago Tube and Iron, or CTI, business. CTI operates in the Midwestern and south-eastern United States.

Closing Price
Day's Change
0.00 (0.00%)
B/A Size
Day's High
Day's Low

10-day average volume:

Netflix's unpredictable finale: With no more subscription guidance, the focus is on financial estimates

8:48 am ET January 13, 2023 (MarketWatch)

By Jon Swartz

The steaming service, which reports fiscal fourth-quarter results on Jan. 19, is ditching guidance on net subscriber additions and instead focusing on financial numbers

Netflix Inc.'s biggest cliffhanger isn't a season-ending episode of "Stranger Things" or "Money Heist," but something much closer to home: its financial metrics.

The streaming service, which reports fiscal fourth-quarter results on Jan. 19, is ditching guidance on net subscriber additions and instead focusing on financial numbers such as revenue, earnings and operating margin as the tumultuous industry emphasizes profitability over subscription growth.

Netflix (NFLX) has reversed course in offering forecasts of net subscriber adds -- which have proved to be the one factor with the greatest influence on stock movement in recent years -- after missing estimates repeatedly in the past year and seeing its shares battered. The company has also pulled an about-face and initiated a lower-cost, ad-supported plan to pump up sales.

The changes induced analysts such as Jefferies' Andrew Uerkwitz to take a sunnier position on a stock that lost half its market value in 2022. He upgraded Netflix shares to buy in a note Thursday on the prospect of advertising-based video on demand, or AVOD, coupled with changes to password sharing, to "drive top line outperformance" in fiscal 2024. Uerkwitz predicts $40.4 billion in 2024 sales, 7% over Wall Street estimates, and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $10.9 billion, versus Wall Street estimates of $8.6 billion.

He added that Netflix and Walt Disney Co.'s (DIS) Disney+ are likely to capture most of incremental connected TV ad spending despite a generally agreed-upon view that digital ads will taper off in 2023.

Read more: TikTok emerges as biggest winner as digital advertising faces its worst patch in a decade

In its annual poll of 50 major ad buyers, market researcher Cowen found that 41% expect their largest clients to advertise on Netflix, a testament to the upside of its recent pivot to the ad-supported plan and an adjacent partnership with Microsoft Corp. (MSFT). Netflix shares have spiked 36% since it announced fiscal third-quarter results on Oct. 18.

"We view [Netflix] as the best recession play in our coverage universe if macro conditions worsen," Cowen analyst John Blackledge said in a note Wednesday, maintaining a price target of $405 for Netflix, or 24% above its closing price of $327.26on Wednesday.

Indeed, increased demand among businesses for more customer data has played to Netflix's ad plan, which contributed directly to 13% of its total subscribers in December, according to Jon Christian, executive vice president of media-technology consultant Qvest.

"Netflix is so data driven and into demographics, it raises the value on the ad side," Christian said. "We've gone from adding subscribers at all costs to a point where the market values on profitability and costs."

In a note Wednesday, Evercore ISI analyst Mark Mahaney wrote that he considers Netflix, Uber Technologies Inc. (UBER) and Booking Holdings Inc. (BKNG) among the best ideas for "New Money Longs" this year.

Not everyone, however, is bullish on Netflix, at least for the fourth quarter. Barclays analyst Kannan Venkateshwar cautioned that Netflix is "on a path" to add 2.7 million subscribers -- significantly less than the 4.5 million the company has projected. A drop in app downloads, compounded by a plunge in viewership from last year's record audiences for "Squid Game," account for the subscriber shortfall, he said.

Read more: Netflix could be in for a very rough quarter, analyst warns

Analysts polled by FactSet are expecting Netflix to report $7.84 billion in revenue and adjusted earnings of 60 cents a share in the fourth quarter. In the same quarter a year ago, the company reported $7.71 billion in revenue and earnings of $607 million, or $1.33 a share.

Netflix shares have climbed 12% so far this year, while the S&P 500 is up 4% in the same period.

-Jon Swartz


(END) Dow Jones Newswires

January 13, 2023 08:48 ET (13:48 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.