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Jun 30, 2021
Olympic Steel Q2 2021 Earnings Report
Olympic Steel reported record sales and the most profitable quarter in its history.
Key Takeaways
Olympic Steel announced record financial results for the second quarter ended June 30, 2021, with net income totaling $29.6 million, or $2.58 per diluted share, and sales totaling $556 million.
Second quarter of 2021 was the most profitable quarter in the history of Olympic Steel.
Record quarterly adjusted EBITDA of $51.7 million was achieved.
Shipping volumes have returned to pre-COVID levels.
Company anticipates a similarly strong third quarter.
Revenue by Segment
Forward Guidance
Company expects steady demand to continue in the third quarter despite customers navigating component shortages and other supply chain and labor constraints and anticipates a similarly strong third quarter.
Positive Outlook
- Steady demand is expected to continue in the third quarter.
- Company is optimistic about the future.
- Robust balance sheet was bolstered by recently amended and extended credit facility.
- Credit facility provides continued access to low-cost capital.
- Credit facility provides financial flexibility and additional borrowing capacity to further pursue acquisition opportunities and organic growth initiatives.
Challenges Ahead
- Customers are navigating persistent component shortages.
- Customers are experiencing supply chain constraints.
- Customers are experiencing labor constraints.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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