Olympic Steel Stock Price, News & Analysis

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 (NASDAQ: ZEUS) plans to release its first-quarter 2022 financial results on May 5, 2022, after market close. A webcast to discuss these results will be hosted on May 6, 2022, at 10:00 a.m. ET. Key executives, including CEO Richard T. Marabito, COO Andrew Greiff, and CFO Richard A. Manson, will participate in the event. Olympic Steel operates from 41 locations across North America, specializing in carbon, coated, and stainless flat-rolled products.

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, Inc. (Nasdaq: ZEUS) will release its fourth-quarter 2021 financial results on February 24, 2022, after market close. A webcast discussing these results is scheduled for 10:00 a.m. ET on February 25, 2022. The company, founded in 1954, specializes in the processing and sale of various metals, including carbon and stainless flat-rolled sheet, and operates 41 facilities across North America. Key executives attending the call include CEO Richard T. Marabito and CFO Richard A. Manson.

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 (NASDAQ: ZEUS) plans to announce its third-quarter 2021 financial results on November 4, 2021, after market close. A subsequent webcast will be held on November 5, 2021, at 10:00 a.m. ET to discuss the results. The event will include key executives such as CEO Richard T. Marabito and CFO Richard A. Manson. The company, founded in 1954 and headquartered in Cleveland, Ohio, operates 41 facilities across North America, specializing in processed carbon, coated, and stainless steel products.