Company: ZEUS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001437749-25-024377
Chunk: 34

Company: OLYMPIC STEEL INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 34
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     2.9

     $
     11,780

     4.5

(a) Gross profit is calculated as net sales less the cost of materials sold.

(b) Operating expenses are calculated as total costs and expenses less the cost of materials sold.  

Tons sold by our specialty metals flat products segment remained flat at 32 thousand between the second quarter of 2025 and the second quarter of 2024. Tons sold by our specialty metals flat products segment increased 2 thousand to 64 thousand in the first six months of 2025 from 62 thousand in the first six months of 2024. We do not report tons sold for our end-use products. 

Net sales in our specialty metals flat products segment increased $3.8 million, or 2.9%, to $134.7 million in the second quarter of 2025 from $130.9 million in the second quarter of 2024. Average selling prices in the second quarter of 2025 were $4,190 per ton, compared with $4,129 per ton in the second quarter of 2024. Net sales in our specialty metals flat products segment increased $3.8 million, or 1.5%, to $264.2 million in the first six months of 2025 from $260.4 million in the second quarter of 2024. Average selling prices in the first six months of 2025 were $4,140 per ton, compared with $4,228 per ton in the first six months of 2024.

Cost of materials sold in our specialty metals flat products segment increased $5.8  million, or 5.5%, to $110.8 million in the second quarter of 2025 from $104.9 million in the second quarter of 2024. Cost of materials sold in our specialty metals flat products segment increased $7.0 million, or 3.3%, to $219.6   million in the first six months of 2025 from $212.5 million in the first six months of 2024. The increase in cost of materials sold was due to a 3.6% increase in sales volume.

As a percentage of net sales, gross profit (as defined in footnote (a