Olympic Steel Has Record 3Q

For the third quarter of 2021, national metals service center Olympic Steel, Inc. reported net income of $44.5 million.
Retail, Foodservice Sales Rise

Third-quarter net income for Cleveland-based Olympic Steel, Inc. (Nasdaq: ZEUS) increased to $44.5 million this year, compared with a net loss of $1.5 million, in the third quarter of 2020.

Net income represented $3.87 per diluted share, compared $0.13 per diluted share during the same period a year ago.

The company reported sales of $668 million for the third quarter of 2021, compared with $300 million in the third quarter of 2020.

“Our third-quarter financial results represent the best quarterly performance in Olympic Steel’s history. Sales, net income and EBITDA significantly exceeded our previous records set in the second quarter of this year,” Olympic CEO Richard T. Marabito said.

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