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Sep 30, 2021
Olympic Steel Q3 2021 Earnings Report
Sales and profitability surpassed record-setting levels of second quarter.
Key Takeaways
Olympic Steel reported record quarterly financial results for Q3 2021, with sales totaling $668 million and net income reaching $44.5 million, or $3.87 per diluted share.
Third-quarter financial results represent the best quarterly performance in Olympic Steel’s history.
Sales, net income and EBITDA significantly exceeded previous records set in the second quarter of this year.
Company announced the sale of Detroit operations and acquisition of Shaw Stainless & Alloy, Inc.
Customer demand and shipping volumes remain strong, despite continued supply chain disruptions.
Revenue by Segment
Forward Guidance
Company remains well-positioned for a strong fourth quarter and continued pursuit of higher-margin growth opportunities.
Positive Outlook
- Customer demand remains strong.
- Shipping volumes remain strong.
- Total shipments have outpaced the industry.
- Strong balance sheet.
- Commitment to long-term strategy.
Challenges Ahead
- Risks of falling metals prices and inventory devaluation
- Risks associated with supply chain disruption
- Supply disruptions and inflationary pressures
- Increased customer demand without corresponding increase in metal supply
- Risks associated with the COVID-19 pandemic
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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