Olympic Steel reported net income of $1.8 million, or $0.16 per diluted share, for the fourth quarter of 2020, compared to a net loss of $0.9 million, or $0.08 per diluted share, for the fourth quarter of 2019. Sales for the fourth quarter of 2020 totaled $332 million, compared with $320 million in the fourth quarter of 2019.
Net income for the fourth quarter totaled $1.8 million, or $0.16 per diluted share.
Adjusted EBITDA for the fourth quarter of 2020 was $9.9 million.
Sales for the fourth quarter of 2020 totaled $332 million.
The company successfully acquired Action Stainless & Alloys, Inc. in December 2020.
Olympic Steel expects significantly higher profitability in the first quarter of 2021, driven by favorable market conditions and high metal prices.
Visualization of income flow from segment revenue to net income
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