Olympic Steel, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:30 pm EDT
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Olympic Steel, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 526.41 million compared to USD 634.44 million a year ago. Net income was USD 12.23 million compared to USD 12.05 million a year ago. Basic earnings per share from continuing operations was USD 1.06 compared to USD 1.04 a year ago. Diluted earnings per share from continuing operations was USD 1.06 compared to USD 1.04 a year ago.
For the nine months, sales was USD 1,668.76 million compared to USD 2,039.95 million a year ago. Net income was USD 37.12 million compared to USD 86.97 million a year ago. Basic earnings per share from continuing operations was USD 3.21 compared to USD 7.53 a year ago. Diluted earnings per share from continuing operations was USD 3.21 compared to USD 7.53 a year ago.
Olympic Steel, Inc. is a metals service center company. The Company provides metals processing and distribution services to a range of customers. It operates through three segments: specialty metals flat products, carbon flat products, and tubular and pipe products. Specialty metals flat products segment is engaged in the direct sale and distribution of processed aluminum and stainless flat-rolled sheet and coil products, flat bar products, prime tin mill products and fabricated parts. Carbon flat products segment is engaged in the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts. Tubular and pipe products segment distributes metal tubing, pipe, bar, valves and fittings and fabrication of parts supplied to various industrial markets. This segment also offers a range of value-added fabrication services, including tube laser cutting, tube bending, robotic welding, flat laser burning and others.
OLYMPIC STEEL, INC. 
