Welcome to our dedicated page for Olympic Steel news (Ticker: ZEUS), a resource for investors and traders seeking the latest updates and insights on Olympic Steel stock.
Olympic Steel, Inc. (NASDAQ: ZEUS) is a U.S. metals service center that regularly issues news and updates on its operations, financial performance and strategic initiatives. Founded in 1954 and headquartered in Cleveland, Ohio, the company focuses on the direct sale and value-added processing of carbon and coated sheet, plate and coil steel products; stainless steel sheet, plate, bar and coil; aluminum sheet, plate and coil; pipe, tube, bar, valves and fittings; tin plate and a range of metal-intensive end-use products. This news page for ZEUS aggregates company announcements so investors can review how management describes the business over time.
News for Olympic Steel often includes quarterly earnings releases, where the company discusses net income, sales, EBITDA and adjusted EBITDA, as well as commentary on its three segments: specialty metals flat products, carbon flat products and tubular and pipe products. These releases also highlight the performance of its manufactured metal products businesses and provide management’s perspective on macroeconomic conditions affecting the metals industry.
In addition to earnings, ZEUS news items cover strategic transactions and financing. For example, Olympic Steel has announced an amendment and extension of its asset-based revolving credit facility and, in October 2025, a definitive merger agreement with Ryerson Holding Corporation under which Olympic Steel is expected to become a wholly owned subsidiary of Ryerson, subject to shareholder and regulatory approvals and other customary closing conditions.
Company news also features leadership and governance updates, such as appointments and promotions of general managers at specific facilities and the election of new board members. These items provide insight into how Olympic Steel organizes its operations across its 54 facilities and manages its manufactured metal products brands. By reviewing ZEUS news, readers can follow developments in Olympic Steel’s processing footprint, manufactured products portfolio, financing arrangements and the progress of the announced merger with Ryerson.
Olympic Steel (ZEUS) reported third-quarter 2024 financial results with net income of $2.7 million, or $0.23 per diluted share, down from $12.2 million, or $1.06 per diluted share, in Q3 2023. Sales decreased to $470 million from $526 million year-over-year, primarily due to declining metal pricing. EBITDA was $15.0 million compared to $27.1 million in Q3 2023. The company reduced debt by $12 million to $197 million and maintained $304 million in credit availability. Despite industry-wide pricing pressure and lower OEM demand, all three business segments remained EBITDA-positive. The Board approved a regular quarterly dividend of $0.15 per share.
Olympic Steel (Nasdaq: ZEUS) reported Q2 2024 financial results, with net income of $7.7 million ($0.66 per diluted share), compared to $15.0 million ($1.30 per diluted share) in Q2 2023. Adjusted EBITDA was $21.3 million, down from $31.2 million in Q2 2023. Sales decreased to $526 million from $569 million year-over-year, despite higher shipping volumes. The company's diversification strategy helped maintain profitability across all three business segments despite challenging market conditions, including a 22% drop in hot-rolled index pricing during Q2. Olympic Steel declared a quarterly dividend of $0.15 per share and reported over $340 million in borrowing availability, positioning it for potential growth opportunities.
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.
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