Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 36

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 36
---
 13.8% in the first nine months of 2024. The increase in operating expenses on a dollar basis was primarily attributable to increased variable operating expenses due to increased shipments.

Operating income in the third quarter of 2025 totaled $6.4 million, or 4.6% of net sales, compared to $4.9 million, or 3.9% of net sales, in the third quarter of 2024. Operating income in the first nine months of 2025 totaled $14.0 million, or 3.4% of net sales, compared to $16.7 million, or 4.3% of net sales, in the first nine months of 2024. 

     26

Carbon flat products

The following table presents selected operating results for our carbon flat products segment for the periods indicated (dollars are shown in thousands, except for per ton information):

      For the Three Months Ended September 30, 

      For the Nine Months Ended September 30, 

      2025 

      2024 

      2025 

      2024 

      % of net 

      % of net 

      % of net 

      % of net 

      sales 

      sales 

      sales 

      sales 

      Direct tons sold 

     189,475

     198,079

     622,924

     630,018

      Toll tons sold 

     6,125

     6,132

     20,397

     22,958

      Total tons sold 

     195,600

     204,211

     643,321

     652,976

      Net sales 
      
     $
     268,214

     100.0

     $
     264,849

     100.0

     $
     836,997

     100.0

     $
     873,579

     100.0

      Average selling price per ton 

     1,371

     1,297

     1,301

     1,338

      Cost of materials sold 

     202,670

     75.6

     208,093

     78.6

     627,621

     75.0

     687,704

     78.7

      Gross profit