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Olympic Steel(ZEUS) - 2020 Q1 - Earnings Call Transcript
2020-05-01 17:37
Olympic Steel, Inc. (NASDAQ:ZEUS) Q1 2020 Earnings Conference Call May 1, 2020 9:00 AM ET Company Participants Rich Manson - CFO Rick Marabito - CEO Andrew Greiff - President and COO Conference Call Participants Chris Sakai - Singular Research Operator Good morning and welcome to the Olympic Steel 2020 First Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please not ...
Olympic Steel(ZEUS) - 2019 Q4 - Annual Report
2020-02-21 21:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For The Transition Period From _______________ To _______________ (Exact name of registrant as specified in its charter) Form 10-K Ohio 34-1245650 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Year Ended December 31, 2019 Commission File Number 0-23320 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OLYMPIC STEEL, INC. Indicate by check mark if t ...
Olympic Steel(ZEUS) - 2019 Q4 - Earnings Call Transcript
2020-02-21 19:54
Olympic Steel, Inc. (NASDAQ:ZEUS) Q4 2019 Earnings Conference Call February 21, 2020 10:00 AM ET Company Participants Rick Marabito - CEO David Wolfort - President Andrew Greiff - EVP and COO Rich Manson - CFO Conference Call Participants Martin Englert - Jefferies Chris Sakai - Singular Research Phil Gibbs - KeyBanc Capital Markets Operator Good morning and welcome to the Olympic Steel 2019 Fourth Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief q ...
Olympic Steel(ZEUS) - 2019 Q4 - Earnings Call Presentation
2020-02-21 13:26
Investor Presentation February 2020 Forward-Looking Statements | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 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 ...
Olympic Steel (ZEUS) Investor Presentation - Slideshow
2019-11-22 17:33
Investor Presentation November 2019 Forward-Looking Statements | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 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 ...
Olympic Steel(ZEUS) - 2019 Q3 - Quarterly Report
2019-11-08 21:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ( X ) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (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 (Address of princi ...
Olympic Steel(ZEUS) - 2019 Q3 - Earnings Call Transcript
2019-11-08 19:00
Financial Data and Key Metrics Changes - The company reported a net income of $591,000 or $0.05 per share for Q3 2019, a significant decrease from $11.6 million or $1.01 per share in the same quarter last year [21][22] - Net sales for Q3 2019 were $384 million, down 16% compared to Q3 2018, with selling prices decreasing by 7% and volume down 10% [17][18] - Consolidated gross margin for Q3 2019 was 19%, compared to 20% in Q3 2018, with carbon flat gross margins negatively impacted by declining prices [19][20] Business Line Data and Key Metrics Changes - The Specialty Metals segment saw a 3% increase in sales compared to Q3 2018, driven by volume growth and improved pricing, while the Pipe and Tube segment also delivered strong results [18][19] - The Pipe and Tube sales were down approximately 2% year-over-year, while the overall market was down 14%, indicating market share growth [6][18] Market Data and Key Metrics Changes - The overall market for carbon steel products faced challenges due to softer global demand, unsettled trade agreements, and excess global steel capacity, leading to sharp declines in pricing [4][6] - The company noted that its stainless flat roll shipments were up 10.6%, while the overall market was down 2.7%, reflecting successful market share growth [14][15] Company Strategy and Development Direction - The company is focused on diversifying its business, with Specialty Metals and Pipe and Tube segments constituting 44% of sales in Q3 2019 [4][5] - The strategy includes acquiring manufacturers of metal-intensive branded products to enhance profitability and reduce volatility [10][11] - The company aims to strengthen its balance sheet, reduce operating expenses, and focus on cash flow generation to pay down debt [7][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about being at the bottom of carbon steel pricing pressures and anticipates a recovery phase extending into early 2020 [7][32] - The company expects to see growth in automotive aluminum and food equipment sales, contributing to a strong outlook for 2020 [35][48] Other Important Information - The Board of Directors declared a regular cash dividend of $0.02 per share, marking the 58th consecutive quarter of dividend payments [8] - The company appointed Vanessa L. Whiting to the Board of Directors, bringing extensive experience in corporate finance and mergers and acquisitions [8] Q&A Session Summary Question: Recent flat roll price increases and margin recovery - Management noted traction in price increases and a surge in ordering as inventory levels lowered, indicating a recovery phase expected to extend into early 2020 [32][33] Question: Near-term expectations for gross profit and volume - Management anticipates a normal seasonal decline in shipments of 7% to 8% from Q3 to Q4, with potential recovery in spot sales [36][37] Question: Thoughts on Q1 volumes and inventory dynamics - Management indicated that large OEMs are adjusting their finished goods inventory, suggesting a potential improvement in volumes and pricing [39][40] Question: Growth in automotive aluminum business - Management confirmed success in targeting automotive aluminum in Detroit, Atlanta, and Mexico, with expectations for stronger performance in 2020 [48][50] Question: Inventory reduction efforts and pricing impact - Management expects inventory to decrease slightly in Q4, with pricing being the primary driver of inventory reduction rather than volume [51][55]
Olympic Steel (ZEUS) Investor Presentation - Slideshow
2019-08-08 13:23
August 2019 SAFE HARBOR STATEMENT | --- | --- | |---------------------------------------------------------------------------------------------------------|-------| | | | | statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform | | | Act of 1995. Please refer to the Company's Securities | | | and Exchange Commission filings for further | | | information, including its most recent reports on | | | Form 10-K and its quarterly reports on Form 10-Q. | | Page 2 OLYM ...
Olympic Steel(ZEUS) - 2019 Q2 - Earnings Call Transcript
2019-08-04 20:26
Olympic Steel, Inc. (NASDAQ:ZEUS) Q2 2019 Earnings Conference Call August 1, 2019 9:00 AM ET Company Participants Rick Marabito - Chief Executive Officer David Wolfort - President Rich Manson - Chief Financial Officer Andrew Greiff - Executive Vice President and COO Dr. Don McNeeley - President, Chicago Tube & Iron Business Conference Call Participants Martin Englert - Jefferies Phil Gibbs - KeyBanc Capital Markets Aldo Mazzaferro - Mazzaferro Research Chris Sakai - Singular Research Operator Good morning, ...
Olympic Steel(ZEUS) - 2019 Q2 - Quarterly Report
2019-08-01 20:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ( X ) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 ( ) 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 | | --- | --- ...