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Steel Stocks' Q2 Earnings Slated on Jul 25: X, AKS, ATI

A few steel stocks are among a wide swath of companies slated to report their quarterly numbers on Jul 25. The second-quarter earnings season has gotten off to a solid start with a barrage of stocks coming up with positive earnings surprises.

Based on the latest Earnings Preview, 97 companies on the S&P 500 index have already reported their quarterly numbers as of last Friday. Total earnings for these companies (representing 28.1% of the index’s total market capitalization) have increased 8.4% year over year on 5.1% higher sales.

As per the Zacks Industry classification, steel is grouped under the broader Basic Materials sector. Overall Q2 earnings for the sector are projected to rise 1.5% while revenues are expected to increase 2.8%.

After being in a rut for long, the steel industry has staged a recovery driven by favorable developments on steel trade cases in the recent past and improved prices. Steel stocks got a big thrust following Donald Trump’s election win in Nov 2016 on expectations of...