NASDAQ$ZEUS
Olympic Steel Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Olympic Steel experienced a net loss amidst improving demand and strategic initiatives.
Olympic Steel reported a net loss of $1.5 million for Q3 2020, compared to a net income of $0.6 million in Q3 2019. Sales decreased to $300 million from $384 million year-over-year, due to lower average selling prices and volumes. However, volumes steadily increased throughout the quarter, with September volumes approaching pre-COVID levels. The company's performance improved sequentially, driven by increased demand and successful execution of initiatives to improve inventory turns, lower expense run rates, and reduce debt.
- Net loss totaled $1.5 million, or $0.13 per diluted share, compared to net income of $0.6 million, or $0.05 per diluted share, in Q3 2019.
- Sales decreased to $300 million from $384 million in the same quarter last year, impacted by lower average selling prices and volumes.
- Adjusted EBITDA was $4.3 million, versus $7.2 million in Q3 2019.
- Flat-rolled volumes were up 23% sequentially, and consolidated operating income improved by over $7 million compared to Q2 2020.
Headline financials
Revenue & EPS history
Olympic Steel · Revenue · Quarterly
$300M
Revenue by segment
Olympic Steel · $300M total across 3 segments · Q3 2020
- Carbon Flat Products$168M-22.1%56.0%
- Specialty Metals Flat Products$80.9M-17.1%27.0%
- Tubular and Pipe Products$51.1M-28.2%17.0%
Forward guidance
The company anticipates strengthening demand and tightening supply across the industry, which should support a positive pricing environment and result in a strong finish to 2020.
Tailwinds
- Strengthening demand
- Tightening supply across the industry
- Positive pricing environment
- Strong finish to 2020
- Positioned to deliver consistent profitability
Headwinds
- Risks associated with the novel coronavirus, or COVID-19, pandemic
- Risks of falling metals prices and inventory devaluation
- General and global business, economic, financial and political conditions
- Cyclicality and volatility within the metals industry
- Fluctuations in the value of the U.S. dollar
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports
+0.2%
Avg return
Earnings day
-4.2%
Avg return
5 days after
-3.4%
Avg return
30 days after
50%
32 / 64 earnings
Positive
+45.6%
Q1 2015
Best reaction
-15.4%
Q2 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.0% | -1.4% | +8.5% | |
| Q2 2025 | +1.3% | -1.9% | +8.4% | |
| Q1 2025 | +9.2% | +0.4% | -7.3% | |
| Q4 2024 | +3.3% | -1.8% | -13.2% | |
| Q3 2024 | -5.0% | +2.9% | +15.9% | |
| Q2 2024 | -11.5% | -14.1% | -20.5% | |
| Q1 2024 | -9.2% | -16.2% | -17.8% | |
| Q4 2023 | +0.3% | -1.8% | -1.5% | |
| Q3 2023 | -5.2% | — | — | |
| Q2 2023 | +5.1% | — | — | |
| Q1 2023 | -1.3% | — | — | |
| Q4 2022 | +0.9% | — | — | |
| Q3 2022 | +7.8% | — | — | |
| Q2 2022 | +2.5% | — | — | |
| Q1 2022 | -7.1% | — | — | |
| Q4 2021 | +14.4% | — | — | |
| Q3 2021 | -2.8% | — | — | |
| Q2 2021 | +10.0% | — | — | |
| Q1 2021 | +7.7% | — | — | |
| Q4 2020 | -6.9% | — | — | |
| Q3 2020 | +6.5% | — | — | |
| Q2 2020 | +0.5% | — | — | |
| Q1 2020 | -0.2% | — | — | |
| Q4 2019 | +3.7% | — | — | |
| Q3 2019 | -5.9% | — | — | |
| Q2 2019 | -4.2% | — | — | |
| Q1 2019 | +10.0% | — | — | |
| Q4 2018 | -5.4% | — | — | |
| Q3 2018 | -0.2% | — | — | |
| Q2 2018 | +2.5% | — | — | |
| Q1 2018 | -4.7% | — | — | |
| Q4 2017 | -7.3% | — | — | |
| Q3 2017 | +5.1% | — | — | |
| Q2 2017 | +2.1% | — | — | |
| Q1 2017 | +19.6% | — | — | |
| Q4 2016 | -9.6% | — | — | |
| Q3 2016 | -12.2% | — | — | |
| Q2 2016 | -15.4% | — | — | |
| Q1 2016 | +11.4% | — | — | |
| Q4 2015 | +1.2% | — | — | |
| Q3 2015 | +0.3% | — | — | |
| Q2 2015 | +5.1% | — | — | |
| Q1 2015 | +45.6% | — | — | |
| Q4 2014 | +8.2% | — | — | |
| Q3 2014 | -8.4% | — | — | |
| Q2 2014 | -5.3% | — | — | |
| Q1 2014 | -3.2% | — | — | |
| Q4 2013 | +0.7% | — | — | |
| Q3 2013 | -14.3% | — | — | |
| Q2 2013 | +10.2% | — | — | |
| Q1 2013 | +13.6% | — | — | |
| Q4 2012 | -1.1% | — | — | |
| Q3 2012 | -2.7% | — | — | |
| Q2 2012 | +0.7% | — | — | |
| Q1 2011 | -5.9% | — | — | |
| Q1 2012 | +3.7% | — | — | |
| Q4 2009 | -3.9% | — | — | |
| Q4 2011 | -3.9% | — | — | |
| Q3 2011 | +1.0% | — | — | |
| Q3 2010 | +1.0% | — | — | |
| Q2 2011 | -13.2% | — | — | |
| Q4 2010 | -13.2% | — | — | |
| Q2 2010 | -13.2% | — | — | |
| Q1 2010 | -2.4% | — | — |
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