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) announced a quarterly cash dividend increase from
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.
Olympic Steel Inc. (NASDAQ: ZEUS) has appointed James D. Esway as General Manager of its facilities in Buford and Winder, Georgia. Esway brings over 20 years of experience in the metals industry, having previously served as Chief Commercial Officer for a major metals manufacturer. His appointment aims to accelerate growth in the Southeast region, continuing the notable expansion of the Buford facility since its opening in 2020. David J. Gea remains the Vice President overseeing these operations.
Olympic Steel Inc. (Nasdaq: ZEUS) has acquired the assets of Shaw Stainless & Alloy, Inc. in an all-cash deal that is immediately accretive, though terms weren't disclosed. This marks Olympic Steel's fifth acquisition in four years, enhancing its specialty metals segment. Shaw's operations include stainless steel distribution and fabrication, with various value-added processes provided. The acquisition is expected to drive growth through synergies and replace earnings from recently sold assets in Detroit.
Olympic Steel (Nasdaq: ZEUS) announced the sale of its Detroit operations to Venture Steel Inc. for
Olympic Steel (NASDAQ: ZEUS) has announced the promotion of Brian C. Harkins to Vice President – Aluminum. This move is in line with the company's strategic growth in specialty metals. Harkins, who joined in 2019, has extensive experience in the aluminum market, contributing to market share increases and strengthening supply relations. His vision is set on sustainable growth for the aluminum product line. Olympic Steel, founded in 1954 and headquartered in Cleveland, operates 35 facilities across North America, focusing on various metal products.
Olympic Steel (Nasdaq: ZEUS) has announced the promotion of Cassandra Powers to Vice President of Human Resources. This transition follows the planned retirement of Ken F. Sloan in 2022. Ms. Powers, who has been with the company since 2016, will oversee employee acquisition, engagement, and retention strategies. Her background includes over 11 years of HR experience, with roles enhancing her strategic talent management capabilities. Olympic Steel, founded in 1954, operates 35 facilities across North America, specializing in processed metal products.
Olympic Steel Inc. (NASDAQ: ZEUS) has appointed William Maurer as the new General Manager of its Milford, Connecticut facility, succeeding Gerard Phillips, who will retire in March 2022 after over three decades in the metals industry. Maurer, with more than 25 years of experience, will oversee the facility's operations and commercial growth. This transition aims for a seamless leadership handover, with Phillips supporting during the interim. Olympic Steel is a national metals service center with 35 locations across North America.
Olympic Steel, Inc. (NASDAQ: ZEUS) reported record financial results for Q2 2021, achieving a net income of $29.6 million ($2.58 per diluted share), a significant turnaround from a loss of $6.5 million in Q2 2020. Sales soared to $556 million from $248 million year-over-year. Adjusted EBITDA reached $51.7 million, up from $0.5 million in Q2 2020. The company credits strong market conditions and a solid shipping volume return to pre-COVID levels. A quarterly cash dividend of $0.02 per share has been approved for payment on September 15, 2021.