How will ZEUS perform in Q1 2025?

**Olympic Steel's (ZEUS) performance in Q1 2025 is likely to be influenced by industry trends and economic indicators.** Here's a detailed analysis:

1. **Industry Performance**: The Metals & Mining industry, of which Olympic Steel is a part, has shown volatility with fluctuations in commodity prices. This volatility can impact the company's revenue and profitability.
2. **Earnings Outlook**: Olympic Steel's earnings release date for Q1 2025 is May 1, 2025, which is after the market close. This suggests that the market will have to wait to assess the company's performance for the quarter.

3. **Peer Comparison**: Commercial Metals (CMC) experienced a significant decline in revenue and net profit in Q1 2025, with a net loss of $175.7 million. This indicates a challenging environment for the metals sector, which Olympic Steel is likely to face as well.
4. **Market Sentiment**: J.P. Morgan's upgrade of the mining sector to "overweight" suggests a positive outlook for the long term, citing a projected rebound in commodity prices. This could potentially benefit Olympic Steel in the longer run.
5. **Iron Ore Prices**: Iron ore prices, which have remained stable in Q1 2025, are expected to fluctuate between $90 and $120 per ton. Stability in prices can be both a positive (if stable around higher prices) or negative (if around lower prices) for companies like Olympic Steel.
6. **Financial Health**: Olympic Steel's focus on financial health, with an emphasis on free cash flow and working capital changes, is crucial in a volatile industry. The company's ability to manage its finances will be key to its performance.

In conclusion, while there are positive indicators such as the potential rebound in commodity prices, the current market conditions and recent performance of peers suggest that Olympic Steel may face challenges in Q1 2025. The company's financial management and the stability of metal prices will be critical factors determining its performance for the quarter.