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Mar 31, 2020
Olympic Steel Q1 2020 Earnings Report
Olympic Steel's first-quarter earnings decreased compared to the previous year, but the company remained profitable due to cost-saving measures and inventory management.
Key Takeaways
Olympic Steel reported a net income of $0.6 million, or $0.05 per diluted share, for the first quarter of 2020. Sales totaled $354 million, including a $0.5 million LIFO pre-tax income.
Olympic Steel reported a first-quarter profit despite a challenging environment.
The company's results benefited from reduced operating expenses and improved inventory management.
Olympic Steel finished the quarter with improved liquidity, with approximately $112 million of availability under its asset-based revolving credit facility.
The Board of Directors approved a regular quarterly cash dividend of $0.02 per share.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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