Olympic Steel Stock Price, News & Analysis

Olympic Steel (Nasdaq: ZEUS) celebrates its 70th anniversary and the 50th anniversary of Executive Chairman Michael D. Siegal. Founded in 1954 by Sam and Sol Siegal with a $17,000 investment, the company has grown into a leading metals service center with over $1 billion in revenues. Michael Siegal joined the company in 1974 and became CEO in 1984, overseeing its public listing on Nasdaq in 1994. Under his leadership, Olympic Steel expanded through acquisitions and new product lines. Today, the company offers a diverse range of metals and fabrication services. Michael Siegal also holds various board positions and is recognized for his philanthropic efforts.

Olympic Steel (Nasdaq: ZEUS) has appointed Anthony Roberts as General Manager for its Chambersburg, Pennsylvania facilities. With over 30 years of experience in the aerospace, automotive, defense, and industrial sectors, Roberts brings leadership expertise from various prominent companies including Mancor Industries, MB Aerospace, Howmet Aerospace, and McLaren Automotive. He will manage two facilities providing metal fabrication services to OEMs, reporting to Region VP James Post. The facilities span 307,000 square feet and specialize in burning, machining, forming, welding, kitting, and assembly. Olympic Steel executives highlight Roberts’ role in advancing their fabrication growth and mitigating cyclical business risks.

Olympic Steel (Nasdaq: ZEUS), a prominent national metals service center, has promoted George Frost to Vice President - Aluminum. This move aligns with the company's strategic growth plans in the specialty metals market. Frost, who will report directly to Andy Markowitz, President - Specialty Metals, brings extensive knowledge of the aluminum sector. His leadership is expected to help Olympic Steel expand its market share and strengthen its position as a top aluminum distributor. Frost holds a Bachelor's degree from Western Carolina University and an MBA from the University of Phoenix. He is actively involved in the Metals Service Center Institute's (MSCI) Aluminum Products Board and the DEI Task Force.

Olympic Steel, Inc. (Nasdaq: ZEUS) reported financial results for Q1 2024, with net income of $8.7 million and sales of $527 million. Despite a decline in income and sales compared to Q1 2023, the company remains in a strong financial position. The CEO highlighted growth in shipping volumes, diversification into higher-value products, and market share gains. The company plans to invest in organic growth, automation, and acquisitions. A cash dividend of $0.15 per share was approved. Adjusted net income per diluted share was $0.77, compared to $1.15 in Q1 2023.