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. operates as a U.S. metals service center focused on the direct sale and value-added processing of carbon and coated steel, stainless steel, aluminum, pipe, tube, bar, valves, fittings and tin plate. Company updates have also covered metal-intensive end-use products, including stainless steel bollards, venting and air filtration systems, Wright brand material handling products, metal canopy components and related manufactured metal products.
Recurring developments include operating and financial results, facility and segment leadership changes, fabrication strategy, processing capabilities and corporate-status matters. In 2026, Olympic Steel completed a merger and became a wholly owned subsidiary of Ryerson, making merger completion, delisting and registration-status disclosures part of its historical public-company record.
Olympic Steel Inc. (Nasdaq: ZEUS) has amended and extended its $475 million asset-based revolving credit facility to June 16, 2026. This facility is secured by the company's accounts receivable, inventory, and property, excluding real estate, and includes a $200 million increase option. Currently, Olympic Steel has about $190 million available under this facility, which will be used for working capital and acquisitions. CFO Richard A. Manson highlighted the amendment's role in providing low-cost capital for operations and future growth.
Olympic Steel, Inc. (Nasdaq: ZEUS) reported a substantial increase in net income for Q1 2021, reaching $22.0 million or $1.91 per diluted share, compared to $0.6 million or $0.05 per share in Q1 2020. The company achieved record sales of $463 million, up from $354 million year-over-year. Adjusted EBITDA rose to $37.8 million from $7.5 million. The CEO emphasized robust growth across all segments, driven by high demand and low inventory levels. A quarterly cash dividend of $0.02 per share was approved, payable on June 15, 2021.
Olympic Steel, Inc. (Nasdaq: ZEUS) reported its financial results for Q4 and the full year ended December 31, 2020. The fourth quarter saw a net income of $1.8 million ($0.16 per diluted share), recovering from a net loss of $0.9 million in Q4 2019. Sales rose to $332 million, up from $320 million year-over-year. Despite this, the full year resulted in a net loss of $5.6 million ($0.49 per diluted share), down from $3.9 million net income in 2019, with annual sales at $1.2 billion compared to $1.6 billion previously. The acquisition of Action Stainless & Alloys is noted as a strategic growth move.
Olympic Steel (Nasdaq: ZEUS) announced a quarterly cash dividend of $0.02 per share, payable on March 15, 2021, to shareholders of record on March 1, 2021. The company will disclose its 2020 fourth-quarter financial results prior to market opening on February 25, 2021, followed by a conference call beginning at 9:00 a.m. ET. This meeting will feature CEO Richard T. Marabito and other executives. Olympic Steel, founded in 1954, specializes in processed carbon, coated, and stainless flat-rolled sheet and operates 36 facilities across North America.
Olympic Steel Inc. (Nasdaq: ZEUS) has appointed Jeffrey A. Carson as the new General Manager for its Bettendorf, Iowa facility. Mr. Carson will oversee temper mill processing, fabrication, and metal distribution, reporting to Regional Vice President Thomas J. Sacco. With over 30 years of manufacturing management experience, including expertise in Lean Manufacturing and Six Sigma, Mr. Carson aims to drive growth in the facility and its serving region. Olympic Steel, founded in 1954, is a national metals service center with 36 operational facilities across North America.
Olympic Steel (Nasdaq: ZEUS) has acquired the assets of Action Stainless & Alloys, Inc., marking its fourth acquisition in three years. The all-cash transaction is instantly accretive, though terms remain undisclosed. Action Stainless, a distributor of stainless steel and aluminum, generated over $40 million in sales in 2019. This acquisition will enhance Olympic Steel's specialty metals segment, expand its geographic reach, and integrate processing capabilities to better serve customers. The existing management team will continue to lead Action Stainless as part of Olympic Steel.