Olympic Steel reported record sales and net income for the fourth quarter of 2021, marking the most profitable year in the company's history. The company's diversification and acquisition strategy, combined with operational efficiencies, drove the strong performance. Increased quarterly dividend from $0.02 to $0.09 per share.
Achieved record sales and net income for the fourth quarter.
All three operating segments earned record EBITDA in 2021.
Strategic actions in 2021 strengthened the company for the longer term.
Board of Directors approved a regular quarterly cash dividend increase to $0.09 per share.
Olympic Steel is well-positioned for a strong first quarter of 2022, with robust stainless steel, aluminum, and pipe and tube markets. Despite anticipated price decreases in the carbon segment, the company remains optimistic about business conditions and expects diversification efforts to drive consistent profitability.
Visualization of income flow from segment revenue to net income
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