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 | | --- | --- | ...

Financial Data and Key Metrics Changes - Olympic Steel achieved net sales of $709 million in Q2 2022, setting a new quarterly sales record, surpassing the previous record of $696 million from Q1 2022 [9] - EBITDA for the quarter was $58.8 million, marking the second most profitable quarter in the company's history [9] - Net income totaled $37.6 million, compared to $29.6 million in Q2 2021 [30] - Adjusted EBITDA increased to $58.8 million from $51.7 million year-over-year [16][30] - Total debt decreased by $40 million since year-end, bringing outstanding debt to $288 million [31] Business Segment Data and Key Metrics Changes - Specialty Metals segment sales increased by 64% year-over-year to $227 million, with EBITDA improving to $37.5 million [17] - Pipe and Tube segment sales were $112 million, up 21% from the previous year, generating $8.5 million of EBITDA [18] - Carbon segment sales rose 14% to $371 million, with EBITDA of $18.3 million [18] Market Data and Key Metrics Changes - Overall sales volume in Q2 2022 was comparable to Q2 2021 after adjusting for the Detroit division's disposition [16] - The company noted that while metal products are experiencing downward pricing pressures, underlying demand remains strong, with OEM customers having robust backlogs [24] Company Strategy and Development Direction - The company is focusing on organic investments across all business segments to expand capacity and enhance returns [12] - Olympic Steel is actively seeking acquisitions to build a higher return value-added portfolio, having completed five successful deals in the past four years [13] - The company published its first Corporate Responsibility Report, emphasizing its commitment to environmental stewardship and safety [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about underlying demand despite pricing pressures and recession concerns, noting that customers have not significantly pulled back on orders [24] - The company anticipates infrastructure activity to increase as states adjust budgets for expected federal funds [25] - Management is confident in the company's ability to navigate market cyclicality and maintain profitability [37] Other Important Information - Consolidated operating expenses increased by 11.6% year-over-year to $94.8 million, influenced by inflationary pressures and higher distribution costs [32][33] - The effective income tax rate for Q2 was 27.1%, with expectations to remain within the 27% to 28% range for 2022 [36] Q&A Session Summary Question: Carbon segment volume expectations and supply constraints - Management expects Q3 to be a traditional quarter with steady shipments, despite some supply chain issues affecting larger industrial customers [41] Question: Specialty Metals allocation and volume - There is pressure on domestic mills, but imports have increased, providing more availability in the market [43] Question: Customer concerns regarding macroeconomic conditions - Customers are optimistic about maintaining current levels despite recessionary fears, with no significant changes in forecasts [46] Question: M&A landscape and pricing - The company is actively pursuing acquisitions and has seen increased M&A activity, though valuation discussions are challenging due to market fluctuations [47]

Business Segments - The company operates in three reportable segments: specialty metals flat products, carbon flat products, and tubular and pipe products[83]. - The specialty metals flat products segment expanded its geographic footprint through acquisitions of Shaw Stainless & Alloy and Action Stainless & Alloys, enhancing product offerings in stainless steel and aluminum[83]. - The company sold substantially all assets related to its Detroit operation, which primarily focused on distributing carbon flat-rolled steel to domestic automotive manufacturers[83]. Financial Performance - Net sales increased by 27.5% to $709.2 million in Q2 2022 from $556.1 million in Q2 2021, driven by a 45.0% increase in average selling prices[101]. - Cost of materials sold rose by 30.8% to $560.5 million in Q2 2022 from $428.7 million in Q2 2021, reflecting increased metals pricing[103]. - Gross profit as a percentage of net sales decreased to 21.0% in Q2 2022 from 22.9% in Q2 2021, due to rising inventory costs outpacing selling prices[104]. - Operating expenses increased by 11.6% to $94.8 million in Q2 2022 from $84.9 million in Q2 2021, but as a percentage of net sales, they decreased to 13.4% from 15.3%[105]. - Net income for Q2 2022 totaled $37.6 million, or $3.26 per share, compared to $29.6 million, or $2.58 per share, in Q2 2021[110]. Segment Performance - Specialty metals flat products net sales accounted for 32.0% of total net sales in Q2 2022, up from 24.8% in Q2 2021[101]. - Total tons sold in the specialty metals flat products segment decreased by 4.5% to 38,386 tons in Q2 2022 from 40,188 tons in Q2 2021[113]. - Net sales in the specialty metals flat products segment increased by $88.9 million, or 64.4%, to $227.0 million in Q2 2022 compared to Q2 2021, driven by a 72.1% increase in average selling prices[114]. - Average selling prices in the specialty metals flat products segment rose to $5,913 per ton in Q2 2022 from $3,435 per ton in Q2 2021, reflecting increased industry metals pricing[114]. - Gross profit as a percentage of net sales for the specialty metals flat products segment increased to 27.5% in Q2 2022 from 22.1% in Q2 2021, attributed to higher average selling prices[117]. - Operating income in the specialty metals flat products segment totaled $36.5 million, or 16.1% of net sales, in Q2 2022, compared to $13.7 million, or 9.9% of net sales, in Q2 2021[119]. - Net sales in the carbon flat products segment increased by $45.2 million, or 13.9%, to $370.7 million in Q2 2022 from $325.5 million in Q2 2021, due to a 32.1% increase in average selling prices[123]. - Average selling prices in the carbon flat products segment increased to $1,760 per ton in Q2 2022 from $1,332 per ton in Q2 2021[123]. - Operating income in the carbon flat products segment decreased to $15.6 million, or 4.2% of net sales, in Q2 2022 from $30.4 million, or 9.3% of net sales, in Q2 2021[128]. - Net sales in the tubular and pipe products segment increased by $19.0 million, or 20.6%, to $111.5 million in Q2 2022 from $92.5 million in Q2 2021, driven by a 30.2% increase in average selling prices[131]. - Gross profit as a percentage of net sales for the tubular and pipe products segment increased to 23.4% in Q2 2022 from 23.1% in Q2 2021[133]. - Operating income for Q2 2022 was $7.3 million, representing 6.5% of net sales, an increase from $3.0 million or 3.3% in Q2 2021[135]. Operational Metrics - The company has 34 strategically located processing and distribution facilities in the U.S. and one in Monterrey, Mexico, allowing it to focus on regional and national accounts[94]. - The company maintains substantial inventories of metals to meet customer demands, with no long-term fixed-price metals purchase contracts in place[85]. - The company faces risks from falling metals prices, supply chain disruptions, and inflationary pressures, which could adversely affect its financial performance[81]. - The company has undertaken capital investments and strategic growth initiatives, including acquisitions and business information system implementations[90]. - The company’s ability to generate free cash flow and repay debt is critical for its financial health and operational strategies[90]. Cash Flow and Financing - Net cash from operations for the first six months of 2022 was $47.7 million, up from a net cash usage of $95.7 million in the same period of 2021[139]. - Working capital as of June 30, 2022, was $610.3 million, reflecting a $45.2 million increase from December 31, 2021[141]. - Net cash used for investing activities was $6.7 million in the first half of 2022, compared to $4.6 million in the same period of 2021[142]. - Cash used for financing activities in the first six months of 2022 totaled $42.3 million, primarily due to $39.9 million in net repayments under the ABL Credit Facility[143]. - Dividends paid increased to $2.0 million in the first half of 2022 from $0.4 million in the same period of 2021[144]. - The ABL Credit Facility has a total revolving credit limit of $445 million, with a maturity date of June 16, 2026[148]. - As of June 30, 2022, the company had approximately $183 million of availability under the ABL Credit Facility[150].

For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 transition period from __________ to ____________ Commission File Number 0-23320 OLYMPIC STEEL, INC. (Exact name of registrant as specified in its charter) Ohio 34-1245650 (State or other jurisdi ...

Olympic Steel, Inc. (NASDAQ:ZEUS) Q1 2022 Earnings Conference Call May 6, 2022 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 Marco Rodriguez - Stonegate Capital Markets Phil Gibbs - KeyBanc Capital Markets Chris Sakai - Singular Research Operator Good morning and welcome to the Olympic Steel 2022 First Quarter Financial Results Conference Call. At this time, all p ...

Investor Presentation February 2022 Forward-Looking Statements 2 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 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 forward-looking statements are made | | | pursuant to the safe harbor provision ...

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, 2021 ☐ 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 | | --- | --- | | (State or other jurisdiction of incor ...

Olympic Steel, Inc. (NASDAQ:ZEUS) Q4 2021 Earnings Conference Call February 25, 2022 10:00 AM ET Company Participants Richard Marabito - CEO Richard Manson - CFO Andrew Greiff - President & COO Conference Call Participants Marco Rodriguez - Stonegate Capital Markets Philip Gibbs - KeyBanc Capital Markets Chris Sakai - Singular Research Alan Weber - Robotti Advisors Phil Gibbs - KeyBanc Capital Markets Operator Good morning and welcome to the Olympic Steel 2021 Fourth Quarter Financial Results Conference Cal ...