Olympic Steel, Inc. has recently released its 10-K report, providing detailed insights into its business operations. The company primarily focuses on processing, distributing, and storing metal products in the United States, Canada, and Mexico. Olympic Steel operates in three segments: Carbon Flat Products, Specialty Metals Flat Products, and Tubular and Pipe Products. These segments offer a wide range of metal products, including stainless steel, aluminum, alloy, heat-treated, and abrasion-resistant coils, sheets, and plates, as well as various tube, pipe, and bar products. Additionally, the company provides value-added services such as cutting-to-length, slitting, shearing, and fabrication services.
In the Management’s Discussion and Analysis of Financial Condition and Results of Operations, Olympic Steel highlights the factors that impact its operations, including metals pricing, demand, and availability, as well as global business, economic, and political conditions. The company also emphasizes the importance of managing substantial inventories to meet customer needs and discusses the impact of metals price fluctuations on its net sales, cost of materials sold, and profitability.
The report further details the company's reportable segments, including the Specialty Metals Flat Products, Carbon Flat Products, and Tubular and Pipe Products segments. Each segment serves different industries and has distinct average selling prices and gross profit percentages. The report also includes consolidated income statement data for the years ended December 31, 2024, and 2023. In 2024, Olympic Steel reported a decrease in net sales, with gross profit and operating income also showing a decline compared to 2023.
Following these announcements, the company's shares moved 3.3%, and are now trading at a price of $37.88. If you want to know more, read the company's complete 10-K report here.
