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 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.