Olympic Steel (ZEUS) Q4 2024 Earnings Call February 21, 2025 05:13 PM ET Company Participants Richard Manson - CFORichard Marabito - CEOAndrew Greiff - President & Chief Operating OfficerSamuel McKinney - AVP - Equity ResearchDave Storms - Director of Equity Research Conference Call Participants Christopher Sakai - Analyst Operator Good morning, and welcome to the Olympic Steel twenty twenty four Fourth Quarter Financial Results Conference Call. At this time, all participants are on a listen only mode. A qu ...

Table of Contents For The Transition Period From _______________ To _______________ Commission File Number 0-23320 OLYMPIC STEEL, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | Ohio | 34-1245650 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer Identification | | incorporation or organization) | Number) | | 22901 Millcreek Boulevard, Suite | 44122 | | 650, Highland Hills, OH | | | (Address of principal ...

Exhibit 99.1 NEWS RELEASE Olympic Steel Reports Fourth-Quarter 2024 Results All three segments deliver EBITDA-positive results every quarter of 2024 despite challenging market conditions Fourth quarter 2024 Adjusted EBITDA was sequentially higher than third quarter 2024 Company continues to execute on diversification strategy, completing eighth acquisition in the past seven years Shareholders rewarded with a quarterly dividend increase of 7% from $0.15 to $0.16 per share CLEVELAND — February 20, 2025 — Olym ...

Toronto, Ontario--(Newsfile Corp. - January 20, 2025) - Zeus North America Mining Corp. (the "Company" or "Zeus") has announced the approval of the plan of arrangement between the Company and its wholly owned subsidiary Kelso Mining Inc. (“Kelso”) dated August 26, 2024 (the “Arrangement”), to spin out its Chlore Property located in the Omineca Mining Division of North-Central British Columbia to Kelso. The Company announced the share distribution record date of January 29, 2025 (the “Share Distribution ...

Vancouver, BC--(Newsfile Corp. - November 20, 2024) - Zeus North America Mining Corp. (CSE: ZEUS) (FSE: 092) will be participating in Deutsche Goldmesse Fall 2024, which will take place on November 21st and 22nd at The Westin Grand Frankfurt. Members of the Zeus North America Mining Corp. management will be taking meetings throughout the day, and also present to an audience of European investors. An online registration form is available, and Investors can register to attend at: Investor Registration | Deuts ...

Financial Data and Key Metrics - Net income for Q3 2024 was $2.7 million, compared to $12.2 million in Q3 2023 [22] - EBITDA for Q3 2024 was $15 million, down from $27.1 million in the prior year period [22] - Consolidated operating expenses for Q3 2024 totaled $99 million, up from $91 million in Q3 2023 [23] - Total debt decreased by $12 million to $197 million in Q3 2024 [24] - Capital expenditures for the first three quarters of 2024 totaled $22.3 million, with full-year 2024 estimates at $30 million [25] - Effective income tax rate for Q3 2024 was 30%, compared to 27.7% in Q3 2023 [25] Business Segment Performance Carbon Segment - Volumes fell more than the normal seasonal decline due to lower demand from OEM customers, especially in the heavy equipment sector [14] - Generated $4.5 million in EBITDA in Q3 2024 [14] - Strength in countercyclical end products, such as HVAC and industrial hoppers [14] - Investments in automation expected to improve throughput by up to 30% [16] Pipe and Tube Segment - Adjusted EBITDA of $6.7 million in Q3 2024 [16] - Gross margins remained strong due to value-added processing and the acquisition of Central Tube & Bar [16] - Value-added processing accounts for over 40% of the segment's business [41] Specialty Metals Segment - Contributed $5.9 million of EBITDA in Q3 2024 despite stainless surcharges falling to a 3.5-year low [17] - Gained market share in stainless and aluminum [17] - Installed new automated packaging line to improve throughput and efficiency [17] Market and Strategic Direction - Macroeconomic headwinds, including reduced OEM demand and pricing pressures, impacted all segments [7][9] - Strategy focuses on diversification into countercyclical steel-intensive end products and higher-margin opportunities [8][10] - Investments in automation, fabrication, and processing capabilities to drive future growth [9][18] - Active pursuit of acquisitions that meet criteria for countercyclical end markets, higher-margin fabrication, and service centers [32][34] Management Commentary on Operating Environment and Outlook - Macroeconomic uncertainty, including the presidential election and Fed interest rate decisions, is expected to continue into Q4 2024 [11] - Optimistic about the long-term outlook for the company and industry, driven by strategic investments and financial flexibility [11] - Focus on managing costs, aligning labor costs with demand, and investing in higher-return opportunities [10][27] Other Important Information - Quarterly dividend of $0.15 per share paid in Q3 2024, with another dividend of $0.15 per share approved for December 2024 [26] - Company has paid regular quarterly dividends since 2006, with increases in each of the last three years [26] Q&A Session Summary Question: Lead time and implementation of new machinery - Training for new equipment will occur before and immediately after installation, with operations expected to begin shortly after [30] Question: M&A targets and strategy - Actively pursuing acquisitions, averaging one per year over the last five years, focusing on countercyclical end markets and higher-margin fabrication [32][34] Question: Pent-up demand post-election - Potential for pent-up demand in spot markets, but industrial OEM demand likely to remain stable [36][37] Question: Pipe and tube segment performance - Gross margin of 35% in Q3 2024, with Central Tube & Bar contributing higher margins [39][42] Question: Impact of Nippon's potential acquisition of U.S. Steel - No significant changes expected for Olympic Steel, with continued strong relationships regardless of ownership [43] Question: Carbon flat operating expenses - Operating expenses increased due to one-time items, with adjustments for employee retention credit and CTB expenses [45][46] Question: Internal investment goals - Investments aimed at increasing profitability, enhancing quality, safety, productivity, and capacity [48]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ____________ Commission File Number 0-23320 OLYMPIC STEEL, INC. (Exact name of registrant as specified in its charter) Ohio 34-1245650 | ...

Financial Performance - Net income for Q3 2024 was $2.7 million, or $0.23 per diluted share, down from $12.2 million, or $1.06 per diluted share in Q3 2023[2] - Sales totaled $470 million in Q3 2024, compared to $526 million in Q3 2023, primarily due to declines in metal pricing[3] - EBITDA for Q3 2024 was $15.0 million, a decrease from $27.1 million in Q3 2023[2] - Adjusted net income per diluted share for Q3 2024 was $0.11, down from $0.68 in Q3 2023[6] - Adjusted EBITDA for Q3 2024 was $13.0 million, compared to $21.1 million in Q3 2023[7] - Operating income for the nine months ended September 30, 2024, was $38,857,000, down 39.8% from $64,380,000 in the prior year[13] - Net income for the three months ended September 30, 2024, was $2,734,000, a decline of 77.7% compared to $12,230,000 for the same period in 2023[13] - Gross profit for the nine months ended September 30, 2024, was $185,875,000, down 5.6% from $196,885,000 in the same period of 2023[16] - Net cash from operating activities for the nine months ended September 30, 2024, was $19,114 thousand, a significant decrease from $120,999 thousand for the same period in 2023[20] Debt and Equity - The company reduced its debt by approximately $12 million to $197 million and had about $304 million of credit availability entering Q4 2024[4] - Shareholders' equity per share increased to $51.26 as of September 30, 2024, from $49.90 as of December 31, 2023[18] - The total liabilities increased to $441,401,000 as of September 30, 2024, from $429,357,000 as of December 31, 2023[14] - Debt to equity ratio improved slightly from 0.34 to 0.35[19] Dividends - The Board of Directors approved a quarterly cash dividend of $0.15 per share, payable on December 16, 2024[4] - Cash dividends per share increased to $0.45 from $0.38 year-over-year[20] Market and Operational Insights - The company remains optimistic about long-term growth despite near-term market challenges[4] - Olympic Steel's diversification strategy has allowed all business segments to remain EBITDA-positive despite pricing pressures[4] - The company continues to invest in equipment automation and processing to enhance efficiency and productivity[4] - Operating expenses for the three months ended September 30, 2024, were $56,322,000, an increase of 8.5% compared to $51,997,000 in 2023[15] - The average selling price per ton for Carbon Flat Products decreased to $1,297 in 2024 from $1,470 in 2023, reflecting a 11.7% decline[15] Asset Management - Total assets increased to $1,012,011,000 as of September 30, 2024, from $984,835,000 as of December 31, 2023[14] - The company reported a total current asset increase to $622,408,000 as of September 30, 2024, compared to $603,169,000 at the end of 2023[14]

SAN FRANCISCO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, announced today that the U.S. Food and Drug Administration (FDA) has granted clearance for its 510(k) submission related to prior design changes made to the Zio AT device via letter to file. Zio AT remains commercially available on the market to ship to customers in the United States. “This clearance ...

Olympic Steel, Inc. (NASDAQ: ZEUS ) offers a large number of products to a significant number of clients. Besides, the company's ongoing efforts that include M&A transactions like that of Metal-Fab and Central Tube and Bar as well as other potential M&As could London Stock Market Research is a service offered by an ex-investment banker from the city of London. After around 11 years in the industry, I decided to drop out, and made dollars out of what I learned in business. I appreciate value investments, and ...