NASDAQ$ZEUS
Olympic Steel Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Olympic Steel's financial performance was driven by diversification strategy and operational discipline amidst shifting market conditions.
Olympic Steel reported a net income of $12.0 million, or $1.04 per diluted share, for the third quarter of 2022. Sales totaled $634 million. The company reduced debt by $84 million so far this year.
- Net income for the third quarter totaled $12.0 million, or $1.04 per diluted share.
- Sales totaled $634 million in the third quarter of 2022.
- Adjusted EBITDA for the third quarter of 2022 was $25.3 million.
- The company reduced debt by $84 million so far this year.
Headline financials
Revenue & EPS history
Olympic Steel · Revenue · Quarterly
$634M
Revenue by segment
Olympic Steel · $634M total across 3 segments · Q3 2022
- Carbon Flat Products$336M-16.9%53.0%
- Specialty Metals Flat Products$188M+14.7%29.7%
- Tubular and Pipe Products$110M+10.2%17.3%
Forward guidance
While we expect metals pricing to decline further and pressure profit margins in the fourth quarter, we are confident that we have reduced the impact of market cyclicality on our business. We anticipate strong cash flows and further debt reduction in the fourth quarter. We have significant capital to continue our diversification strategy by investing in additional acquisitions, new capacity, and efficiency through automation to deliver value to our shareholders.
Tailwinds
- Expect metals pricing to decline further
- Confident that reduced the impact of market cyclicality on our business
- Anticipate strong cash flows
- Anticipate further debt reduction in the fourth quarter
- Have significant capital to continue our diversification strategy
Headwinds
- Metals pricing to decline further
- Pressure profit margins in the fourth quarter
- Ongoing supply chain constraints
- Labor shortages
- Inflation continued
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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