Olympic Steel ( (ZEUS) ) has released its Q1 earnings. Here is a breakdown of the information Olympic Steel presented to its investors.
Olympic Steel, Inc., headquartered in Cleveland, Ohio, is a prominent U.S. metals service center specializing in the direct sale and value-added processing of various steel and metal products, operating from 54 facilities nationwide.
In its first-quarter 2025 earnings report, Olympic Steel reported a net income of $2.5 million, or $0.21 per diluted share, a decrease from $8.7 million, or $0.75 per diluted share, in the same period last year. Despite the challenging macroeconomic environment, the company achieved positive EBITDA across all business segments, driven by a 24% increase in flat-rolled shipping volumes compared to the previous quarter.
Key financial metrics for the quarter included sales totaling $493 million, down from $527 million in the first quarter of 2024. The company’s strategic focus on diversification and operational discipline was evident as it reduced its debt by $37 million and successfully integrated its recent acquisition, MetalWorks, which has been immediately accretive. Additionally, Olympic Steel extended its $625 million asset-based revolving credit facility, ensuring continued access to flexible capital.
Looking forward, Olympic Steel remains optimistic about its growth prospects, emphasizing its strong position to support increased U.S. manufacturing. The company plans to continue focusing on controllable factors to drive profitability and growth, aiming to deliver value to shareholders amid ongoing economic challenges.