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 (NASDAQ: ZEUS) has announced the promotions of Lisa K. Christen to Vice President and Treasurer and Kevin M. Eldridge to Corporate Controller. Both have long tenures at the company and significant experience in financial management, regulatory compliance, and reporting. Christen joined the company in 1999 and has held various roles, while Eldridge has been with Olympic Steel since 2011, advancing through the Corporate Accounting Department. The company, founded in 1954, operates over 44 facilities across North America.
Olympic Steel (NASDAQ: ZEUS) has announced the acquisition of Metal-Fab, Inc., marking the second-largest acquisition in its history. This move is expected to be immediately accretive, leveraging Metal-Fab's strong earnings model and high-quality products. The acquisition aligns with Olympic Steel's strategy to diversify and grow in higher-return sectors. Additionally, Olympic Steel increased its asset-based revolving credit facility from
Olympic Steel (NASDAQ: ZEUS) has appointed Michael A. Tookey as Director of Coated Products, a newly created role aimed at enhancing growth in coated carbon flat-rolled products. Mr. Tookey brings over 20 years of industry experience, focusing on galvanized and automotive grades of steel. He will report to David J. Gea, President of Carbon Flat-Rolled Products. This strategic move aligns with Olympic Steel's goal to diversify its offerings, which currently contribute to approximately 50% of the company's revenue mix.
Olympic Steel Inc. (Nasdaq: ZEUS) announced that CEO Richard T. Marabito has been awarded the 2022 Service Center Executive of the Year by Metal Center News. This annual honor, presented to individuals exemplifying service center excellence, marks the second recognition for Olympic Steel's leadership. Under Marabito's tenure since 2019, the company has seen substantial growth in revenue and operations. His leadership is acknowledged for transforming Olympic Steel and advancing the industry through his role as Chairman of the Metals Service Center Institute.
Olympic Steel Inc. (NASDAQ: ZEUS) congratulates Executive Chairman Michael D. Siegal for receiving the Israeli Presidential Medal of Honor for his contributions to Israel and humanity. With over 40 years at Olympic Steel, Siegal has played pivotal roles in the company’s growth, including its IPO and multiple acquisitions, increasing revenues from $35 million to over $1 billion. He has received numerous accolades, including a Lifetime Achievement Award from the Metals Service Center Institute. Olympic Steel is based in Cleveland, Ohio, and operates 42 facilities across North America.
Olympic Steel, Inc. (Nasdaq: ZEUS) reported net income of $12.0 million ($1.04 per diluted share) for Q3 2022, down from $44.5 million ($3.87 per share) in Q3 2021. Sales decreased to $634 million from $668 million year-over-year. Adjusted EBITDA fell to $25.3 million from $70.5 million. The company faced challenges due to declining metals pricing and macroeconomic uncertainties but was able to reduce debt by $84 million (26%) this year. A quarterly cash dividend of $0.09 per share was approved, continuing the dividend since March 2006.
Olympic Steel, Inc. (Nasdaq: ZEUS) reported impressive second-quarter results for 2022, with net income reaching $37.6 million or $3.26 per diluted share, compared to $29.6 million or $2.58 a year ago. The record quarterly sales totaled $709 million, up from $556 million in Q2 2021. Adjusted EBITDA also rose to $58.8 million from $51.7 million. The company continues to expand its operations and recently announced a quarterly cash dividend increase to $0.09 per share. Despite declining metal prices, management remains optimistic about demand and earnings.
Olympic Steel Inc. (NASDAQ: ZEUS) has released its 2021 Corporate Responsibility Report, focusing on its environmental, social, and governance (ESG) efforts. Key achievements include recognition for safety performance, a 33% rise in employee-reported safety solutions, and a 16% reduction in electricity usage since 2019. Olympic Steel also donated over $122,000 to charity and established a Diversity, Equity, and Inclusion Leadership Council. This report marks the start of an annual initiative to enhance transparency and accountability in corporate governance.
Olympic Steel reports a record quarterly sales of $696 million for Q1 2022, up from $463 million in Q1 2021. Net income soared to $37.3 million or $3.23 per diluted share, compared to $22.0 million or $1.91 in the previous year. Adjusted EBITDA also rose to $56 million, from $37.8 million.
Despite challenges with falling hot-rolled carbon prices, the company saw strong performance across Specialty Metals and Pipe and Tube segments. A quarterly cash dividend of $0.09 was declared, payable June 15, 2022.
Olympic Steel, Inc. (Nasdaq: ZEUS) reported record earnings for Q4 and the full year 2021, showcasing robust financial health. Net income surged to $24.9 million in Q4 2021, up from $1.8 million in Q4 2020, with adjusted EBITDA rising to $51.1 million from $9.9 million. Full-year net income reached $121.1 million compared to a loss of $5.6 million in 2020. Sales doubled to $2.3 billion. The company announced a dividend increase from $0.02 to $0.09 per share, effective March 15, 2022. Management emphasized a diversification strategy that enhances profitability and reduces market cyclicality.