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]

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]

Core Insights - iRhythm Technologies, Inc. has received FDA clearance for modifications to its Zio AT device, affirming its commitment to quality and compliance [1][2] - The Zio AT device is a mobile cardiac telemetry system designed for long-term monitoring of cardiac events, with a focus on patient safety and physician trust [2][5] Company Overview - iRhythm is a digital health care company that combines wearable biosensors and cloud-based analytics to provide actionable cardiac health information [4] - The company aims to enhance patient care through its innovative Zio product portfolio [4] Product Details - The Zio AT device records ECG data for up to 14 days and transmits it via a wireless gateway to the Zio ECG Utilization Software (ZEUS) for analysis [2] - The device has demonstrated a 98% patient compliance rate, attributed to its user-friendly design that requires no patient manipulation [3] Clinical Performance - The effectiveness of the Zio service is supported by over 100 scientific research manuscripts, highlighting its reliability and accuracy [3] - Physicians agree with the comprehensive end-of-wear report provided by the Zio service 99% of the time, indicating high trust in its clinical performance [3]

LAS VEGAS, Aug. 07, 2024 (GLOBE NEWSWIRE) -- BLAQclouds, Inc. (OTC: BCDS) is pleased to announce the intent to acquire the equity of ZEUS Blockchain Partners, Inc. through a SAFE Agreement. As part of this process BLAQclouds, Inc. now has a 90-day exclusive period to complete the transaction. ZEUS Blockchain Partners, Inc. has developed https://zeuschainscan.io/, a Layer 1 Ethereum Virtual Machine (EVM) chain, premiered with the ZEUS Token. The ZEUS Token has also been integrated as the settlement token for ...

Financial Performance - Net sales for Q2 2024 decreased to $526.25 million, down 7.6% from $569.27 million in Q2 2023[9] - Net income for Q2 2024 dropped to $7.66 million, a 49% decline from $15.02 million in Q2 2023[9] - Carbon Flat Products segment saw a 5.8% decrease in net sales to $307.76 million in Q2 2024 compared to $326.63 million in Q2 2023[11] - Specialty Metals Flat Products segment's gross profit increased by 6.3% to $25.93 million in Q2 2024 from $24.40 million in Q2 2023[11] - Tubular and Pipe Products segment's operating income fell to $6.50 million in Q2 2024, down 30.7% from $9.37 million in Q2 2023[11] Assets and Liabilities - Total assets increased to $1.006 billion as of June 30, 2024, up from $984.84 million at the end of 2023[10] - Total current liabilities decreased to $165.32 million as of June 30, 2024, from $180.24 million at the end of 2023[10] - Flat-products assets grew to $665.84 million as of June 30, 2024, up from $649.74 million at the end of 2023[13] - Tubular and pipe products assets increased to $339.18 million as of June 30, 2024, from $333.68 million at the end of 2023[13] - Corporate assets decreased to $1.28 million as of June 30, 2024, down from $1.41 million at the end of 2023[13] Shareholders' Equity and Debt - Shareholders' equity per share increased to $51.15 as of June 30, 2024, compared to $49.90 as of December 31, 2023[14] - Debt to equity ratio rose to 0.37 to 1 as of June 30, 2024, from 0.34 to 1 as of December 31, 2023[14] Cash Flow and Dividends - Net cash used for operating activities was $5,512 million for the six months ended June 30, 2024, compared to net cash from operating activities of $79,196 million for the same period in 2023[14] - Cash dividends per share increased to $0.30 for the six months ended June 30, 2024, from $0.25 for the same period in 2023[14]

Core Insights - BLAQclouds, Inc. has engaged ZEUS Blockchain Partners to develop and manage the "BLAQ" token, which will operate on both Ethereum and ZEUS blockchains [1][4] - The BLAQ token will have a total supply of 500 million tokens, with a planned price of $0.01 per token and a pre-launch price of $0.005 [1][5] - The BLAQ token will integrate with the DiVinciPay merchant platform, allowing holders to use BLAQ tokens as currency at participating merchants [1] Token Details - The BLAQ token will utilize layered smart contracts for funding liquidity pools on the ZEUS Chain, automating funding and managing distributions via time-locked contracts [5] - The token will operate under the ERC20 and ZRC20 standards, with a contract address of 0x81324d217089CEe039e3b660d9265FfeBBF534cD [1] - There will be no reflections or taxes associated with the BLAQ token, and the Uniswap pool fee is set at 0.03% [1] Company Overview - BLAQclouds, Inc. is a publicly traded company based in Nevada, specializing in artificial intelligence and innovative blockchain technology solutions [6] - The company aims to deliver high-performance, secure, and scalable AI-powered blockchain solutions, focusing on future growth and value addition for shareholders [6] - The company has updated its communication strategy, urging shareholders to disregard past social media posts and to rely on verified channels for information [2]

Olympic Steel, Inc. (NASDAQ:ZEUS) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Richard A. Manson - CFO Richard T. Marabito - CEO Andrew Greiff - President & COO Conference Call Participants Dave Storms - Stonegate Alan Weber - Robotti Advisors Chris Sakai - Singular Research Operator Good morning, and welcome to the Olympic Steel 2024 First Quarter Financial Results Conference Call. All this time all participants are in a listen-only, a brief question-and-answer session will ...

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 Commission File Number 0-23320 OLYMPIC STEEL, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 22901 Millcreek Boulevard, Suite 650, Highland Hills, OH For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d ...

Exhibit 99.1 Olympic Steel Reports First-Quarter 2024 Results Strategy to diversify and expand into higher-value processing and manufactured products contributes to financial performance in the face of pricing headwinds Company remains in a strong operational and financial position to invest in additional higher-value growth opportunities to drive profitability and advance its strategy The Board of Directors approved a regular quarterly cash dividend of $0.15 per share, which is payable on June 17, 2024, to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Year Ended December 31, 2023 ☐ 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) (State or other jurisdict ...