Olympic Steel Stock Price, News & Analysis

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.

Olympic Steel (ZEUS) announced a quarterly cash dividend increase from $0.02 to $0.09 per share, payable on March 15, 2022 to shareholders of record on March 1, 2022. This marks the company's commitment to return profits to shareholders, a practice maintained since March 2006. CEO Richard T. Marabito highlighted record profitability for 2021 and anticipates maintaining the increased dividend, subject to Board Approval. Q4 and full-year results are expected on February 24, 2022.

Olympic Steel (NASDAQ: ZEUS) has announced the promotion of David J. Gea to President of its Carbon Flat Rolled segment, which comprises about 50% of the company's revenue. Gea has been with Olympic Steel since 2002, previously serving as Regional Vice President. His leadership is expected to drive safe and profitable growth in this critical business area. Under the guidance of Andrew S. Greiff, President and COO, the company aims to enhance strategic relationships and operational efficiency.

Olympic Steel reported record financial results for Q3 2021, achieving a net income of $44.5 million ($3.87 per diluted share), compared to a loss of $1.5 million in Q3 2020. The company's sales reached $668 million, up from $300 million a year prior. Adjusted EBITDA soared to $70.5 million from $4.3 million. The sale of Detroit operations was countered by the acquisition of Shaw Stainless, enhancing profit potential. A regular quarterly cash dividend of $0.02 per share was declared, payable December 15, 2021.