Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 40

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 40
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 67.7

     173,541

     65.9

      Gross profit (b) 

     25,194

     30.9

     27,853

     35.1

     76,924

     32.3

     89,668

     34.1

      Operating expenses (c) 

     21,207

     26.0

     21,377

     26.9

     64,927

     27.3

     69,068

     26.3

      Operating income 
      
     $
     3,987

     4.9

     $
     6,476

     8.2

     $
     11,997

     5.0

     $
     20,600

     7.8

(a) Includes $139  and $899 of LIFO expense, respectively, for the three and nine months ended September 30, 2025. Includes $2,000 and $2,600 of LIFO income, respectively, for the three and nine months ended September 30, 2024.

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

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

Net sales increased $2.1 million, or 2.7%, to $81.6 million in the third quarter of 2025 from $79.5 million in the third quarter of 2024.  The increase is a result of a 2.5% increase in average selling prices and a 0.2% increase in shipping volume during the third quarter of 2025 compared to the third quarter of 2024. 

Net sales decreased $25.2 million, or 9.6%, to $238.0 million in the first nine months of 2025 from $263.2 million in the first nine months of 2024.  The decrease is a result of a 7.0% decrease in shipping volume and a 2.8% decrease in average selling prices during the first nine months of 2025 compared to the first nine months of 2024. 

Cost of materials sold increased $4.8