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Dec 31, 2019
Olympic Steel Q4 2019 Earnings Report
Olympic Steel reported a net loss for Q4 2019, but strong cash flow during the year enabled investments, acquisitions, and debt reduction.
Key Takeaways
Olympic Steel reported a net loss of $890,000 for the fourth quarter of 2019, with sales totaling $320 million. The results include a $2.4 million LIFO income. CEO Richard T. Marabito highlighted the progress made in diversifying the business and strengthening the financial position, including acquisitions and a significant debt reduction.
Net loss for the quarter totaled $890,000, or $0.08 per diluted share.
Sales for the fourth quarter of 2019 totaled $320 million.
The results include $2.4 million of LIFO income in the fourth quarter of 2019.
Company reduced debt by $110 million, or 36%, in 2019.
Revenue by Segment
Forward Guidance
The company will remain diligent in managing operating expenses and strengthening its balance sheet to provide flexibility for further growth and business diversification.
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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