Q2 2025 Olympic Steel Inc Earnings Call Transcript
Key Points
- Olympic Steel Inc (ZEUS) reported sales of $496 million and net income of $5.2 million for the second quarter of 2025.
- Adjusted EBITDA increased by 26% compared to the first quarter, reaching $20.3 million.
- All three business segments delivered positive EBITDA, showcasing the company's resilience.
- The company has a strong balance sheet with more than $300 million of borrowing availability, positioning it well for future acquisitions and organic investments.
- Olympic Steel Inc (ZEUS) successfully integrated its recent acquisition, Metalworks, which has been accretive to earnings.
- Second quarter net income decreased to $5.2 million from $7.7 million in the same period of 2024.
- There was a sequential volume pullback in the second quarter due to significant buy-ahead activity by customers in the first quarter.
- Operating expenses increased to $110.4 million in the second quarter compared to $104.6 million in the same period of 2024.
- The company faced macroeconomic challenges and uncertainty, particularly related to tariffs impacting the manufacturing industry.
- The second quarter included $750,000 of LIFO expense, compared to $1 million of LIFO pre-tax income in the second quarter of 2024.
Good morning and welcome to the Olympic Steel 2025 Second quarter financial results conference call.
(Operator Instruction) At this time, I'd like to hand the conference over to Richard A. Manson Chief Financial Officer at Olympic Steel. Please go ahead, sir.
Thank you, operator. Welcome to Olympic Steel's earnings call for the Second quarter of 2025. Our call this morning will be hosted by our Chief Executive Officer, Richard T. Marabito, and we will also be joined by our President and Chief Operating Officer, Andrew Greiff.
Before we begin, I have a few reminders. Some statements made on today's call will be predictive and are intended to be made as forward-looking within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and may not reflect actual results. The company does not undertake to update such statements, changes in assumptions, or changes in other factors affecting such forward-looking statements.
Important assumptions, risks,
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