Olympic Steel, Inc. (NASDAQ:ZEUS) Q3 2023 Earnings Conference Call November 3, 2023 10:00 AM ET Company Participants Rich Manson - Chief Financial Officer Rick Marabito - Chief Executive Officer Andrew Greiff - President & Chief Operating Officer Conference Call Participants Samuel McKinney - KeyBanc Capital Markets Dave Storms - Stonegate Chris Sakai - Singular Research Operator Good morning, and welcome to the Olympic Steel 2003 Third Quarter Financial Results Conference Call. At this time, all participa ...

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 June 30, 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) | Ohio | 34-1245650 | | --- | --- | | (S ...

Olympic Steel, Inc. (NASDAQ:ZEUS) Q2 2023 Earnings Conference Call August 4, 2023 10:00 AM ET Company Participants Richard Manson - CFO Richard Marabito - CEO & Director Andrew Greiff - President & COO Conference Call Participants Samuel McKinney - KeyBanc Capital Markets David Storms - Stonegate Capital Markets Joichi Sakai - Singular Research Operator Good morning, and welcome to the Olympic Steel 2023 Second Quarter Financial Results Conference Call. [Operator Instructions]. As a reminder, this conferenc ...

Investor Presentation May 2023 Forward-Looking Statements 2 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | Statements contained in this presentation that are not historical facts are forward-looking statements, which involve risks and uncertainties that | | | could cause actual results to differ materially from those expressed in the | | | forward-looking statements. Such fo ...

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 March 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) | Ohio | 34-1245650 | | --- | --- | | ( ...

Financial Data and Key Metrics Changes - Olympic Steel reported sales of $573 million for Q1 2023, with adjusted EBITDA of $28.6 million, reflecting a steady customer demand and a 3% increase in metal distribution shipments year-over-year, and a significant 15% increase from the previous quarter [7] - Net income for the quarter totaled $9.8 million, a decrease from $37.3 million in Q1 2022, with no LIFO adjustment recorded for either quarter [22] - Total debt at the end of Q1 was $258 million, an increase of $93 million since year-end 2022, primarily due to the $131 million acquisition of Metal Fab [23] Business Segment Performance - The Carbon segment contributed adjusted EBITDA of $11.6 million, with shipments rising 6% year-over-year, excluding Metal Fab [15] - The Pipe and Tube segment had its second most profitable quarter ever, contributing EBITDA of $11.3 million, driven by margin improvement and fabricated product growth [16] - Specialty Metals earned EBITDA of $10.2 million despite facing industry-wide stainless steel headwinds, with a focus on organic growth in aluminum [18] Market Data and Key Metrics Changes - Hot rolled index pricing increased by 74% from the beginning of 2023, following six months of declining steel prices [8] - Demand from industrial OEMs remained steady, with expectations for Q2 to mirror Q1 performance, particularly in the Food Equipment and Appliance segments [13][19] Company Strategy and Industry Competition - The acquisition of Metal Fab in January 2023 was highlighted as a significant step in diversifying and strengthening the company, broadening product offerings and geographic reach [9][10] - The company is well-positioned to pursue additional acquisition opportunities, supported by a strong balance sheet and increased credit availability [12][20] - The company continues to focus on strategic acquisitions as a growth driver, alongside organic growth initiatives [45][46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged an unsettled near-term macroeconomic picture but expressed confidence in the company's resilience and ability to navigate market cyclicality [13] - The second quarter is expected to reflect the full strength of Metal Fab's earnings, with synergies anticipated in the second half of 2023 [22][28] Other Important Information - Capital expenditures for Q1 2023 totaled $7.4 million, with expectations for total capital expenditures in 2023 to reach $30 million [26] - The company increased its quarterly dividend by 39% to $0.125 per share, maintaining a consistent dividend payment record for 72 consecutive quarters [27] Q&A Session Summary Question: Expectations for pricing for carbon in Q2 - Management anticipates some softness in pricing but expects margins to hold through Q2 due to a lag in contract pricing [30] Question: Specialty metals dynamics in Q1 and expectations for Q2 - Management noted high inventory levels at service centers but expects volume to improve in Q2 due to customer demand from food equipment and truck trailer sectors [32] Question: Impact of Metal Fab earnings and synergies - Management indicated that the second quarter will not include onetime charges from the acquisition, leading to improved financial results [34][35] Question: Expansion in Iowa and associated downtime - Management confirmed that the expansion will not cause any downtime and is expected to be operational by year-end [37] Question: Industry-wide capacity outlook - Management expects more product availability in the second half of the year, with domestic mills performing well [41] Question: Margin expansion in pipe and tube - Management attributed margin expansion to investments in fabrication capabilities and growth in the stainless portion of the business [44] Question: Appetite for more acquisitions - Management confirmed ongoing interest in strategic acquisitions, supported by a strong balance sheet and record availability [46]

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, 2022 ☐ 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 | | --- | --- | | (Stat ...

Financial Data and Key Metrics Changes - For Q4 2022, net income totaled $4 million, a decrease from $24.9 million in Q4 2021. Adjusted EBITDA was $11.9 million for the quarter and $152 million for the full year, marking 2022 as the second most profitable year in the company's history [32][41] - Total debt decreased by $162 million, or almost 50%, to $166 million at year-end 2022, including a $78 million reduction during Q4 [33][36] - Consolidated operating expenses for Q4 totaled $81.6 million, a decrease of $8.9 million or 9.9% from the prior year quarter [36] Business Segment Performance - The Specialty Metals segment contributed EBITDA of $9.1 million in Q4 2022, achieving record earnings despite a decline in nickel surcharge and increased stainless steel coil imports [26] - The Pipe and Tube segment contributed adjusted EBITDA of $6.3 million in Q4 2022, also achieving record earnings [28] - The Carbon segment contributed $600,000 of EBITDA for the quarter, achieving positive EBITDA despite significant price declines [29] Market Data and Key Metrics Changes - The hot-rolled index pricing fell 59% from May 2022 to December 2022, marking the steepest drop ever in carbon pricing [20] - The stainless steel surcharge for grade 304 dropped 42% from April to November 2022 [21] Company Strategy and Industry Competition - The company has focused on diversifying into higher return products and services through acquisitions and organic investments, while divesting assets that do not align with its vision [10] - The acquisition of Metal-Fab in January 2023 is expected to accelerate growth in target market segments and provide operational synergies [22][39] - The company aims to remain acquisitive and is actively looking for opportunities to grow in high return products, particularly in the Southwest and aluminum sectors [60][62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding steady demand from industrial OEMs, with expectations for continued stability throughout 2023 [46] - The company anticipates being an indirect beneficiary of increased infrastructure spending, which is expected to positively impact the steel industry [30] - Management noted that inflationary pressures remain, but the rate of inflation appears to be decreasing [52] Other Important Information - The company published its first Corporate Responsibility Report and advanced its diversity, equity, and inclusion plan [15] - A 39% increase in the regular quarterly cash dividend to $0.15 was approved by the Board of Directors [41] Q&A Session Summary Question: Demand from major industrial OEMs - Management noted steady demand from industrial OEMs, with good backlogs despite supply chain challenges [46] Question: Pricing outlook in the first quarter - Management indicated that there will be a lag in contractual pricing adjustments, but spot prices have started to rise recently [47] Question: Strategy for managing debt levels in 2023 - Management stated that debt reduction is expected in the second half of 2023, depending on metal pricing trends [50] Question: Transportation costs and inflation - Management confirmed that transportation costs remain a pressure point, but there is optimism for a decrease in diesel prices [56] Question: Gross margin improvement in Tubular and Pipe Products - Management explained that the improvement was influenced by a significant LIFO expense in Q4 2021 compared to a LIFO income in Q4 2022 [58] Question: Future acquisitions and valuations - Management confirmed that they are actively looking for acquisitions, with typical valuations in the 7 to 8 times EBITDA range [64]

Olympic Steel, Inc. (NASDAQ:ZEUS) Q3 2022 Earnings Conference Call November 4, 2022 11:00 AM ET Company Participants Rich Manson - Chief Financial Officer Rick Marabito - Chief Executive Officer Andrew Greiff - President & Chief Operating Officer Conference Call Participants Dave Storms - Stonegate Alan Weber - Robotti Advisors Chris Sakai - Singular Research Operator Good morning, and welcome to the Olympic Steel 2022 Third Quarter Financial Results. Conference Call. At this time, all participants are in ...

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, 2022 ☐ 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 | | --- | --- | ...