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Dec 31, 2023
Olympic Steel Q4 2023 Earnings Report
Olympic Steel's Q4 2023 earnings were reported with increased net income and adjusted EBITDA, driven by a diversified strategy and strong performance across all business segments.
Key Takeaways
Olympic Steel reported a strong finish to 2023, with net income for the fourth quarter totaling $7.4 million, or $0.64 per diluted share, compared to $4.0 million, or $0.34 per diluted share, in the fourth quarter of 2022. Sales for the fourth quarter of 2023 totaled $489 million, compared with $520 million in the fourth quarter of 2022. The company's success is attributed to its diversification strategy and operational disciplines.
Net income for the fourth quarter totaled $7.4 million, or $0.64 per diluted share, compared to $4.0 million, or $0.34 per diluted share, in the fourth quarter of 2022.
Adjusted EBITDA for the fourth quarter of 2023 was $16.7 million, compared with $11.9 million in the fourth quarter of 2022.
Sales for the fourth quarter of 2023 totaled $489 million, compared with $520 million in the fourth quarter of 2022.
The Board of Directors approved a regular first quarter 2024 cash dividend of $0.15 per share, an increase of $0.025 per share from the previous quarter.
Revenue by Segment
Forward Guidance
Olympic Steel is confident in its ability to build on its success, drive profitable growth and deliver strong value for shareholders in 2024.
Positive Outlook
- Disciplines around working capital
- Disciplines around operating expenses
- Disciplines around cash flow and debt
- Seeking opportunities to further expand our portfolio of higher-return, higher-value-add products
- Stronger than ever
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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