Olympic Steel ( (ZEUS) ) has released its Q4 earnings. Here is a breakdown of the information Olympic Steel presented to its investors.
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Olympic Steel, Inc. is a prominent U.S. metals service center focused on the sale and processing of various metal products, operating within the industrial sector from its headquarters in Cleveland, Ohio.
Olympic Steel reported a challenging yet profitable fourth quarter in 2024, with all segments delivering EBITDA-positive results. The company continues to pursue its diversification strategy, having completed its eighth acquisition in the last seven years.
Key financial highlights for Olympic Steel in the fourth quarter of 2024 include a net income of $3.9 million, down from $7.4 million in the same quarter of 2023, while adjusted EBITDA stood at $14.5 million. Annual sales reached $1.9 billion, a decline from $2.2 billion in 2023, yet the company managed to maintain a strategic focus on profitability and market share expansion.
Olympic Steel’s strategic initiatives in 2024 included investments in automation to boost productivity and the acquisition of Metal Works, a metal canopy manufacturer. The company also increased its quarterly dividend by 7% to $0.16 per share, marking the fourth increase since 2022.
Moving forward, Olympic Steel remains optimistic about sustaining profitability and growth through organic opportunities and further acquisitions, positioning itself well to adapt to the evolving market conditions and industry challenges.
