Company: ZEUS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001437749-25-014325
Chunk: 32

Company: OLYMPIC STEEL INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 32
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 tons sold 

     225,419

     211,191

      Toll tons sold 

     7,408

     8,484

      Total tons sold 

     232,827

     219,675

      Net sales 
      
     $
     286,240

     100.0

     $
     300,975

     100.0

      Average selling price per ton 

     1,229

     1,370

      Cost of materials sold 

     215,339

     75.2

     235,615

     78.3

      Gross profit (a) 

     70,901

     24.8

     65,360

     21.7

      Operating expenses (b) 

     65,076

     22.8

     56,703

     18.8

      Operating income 
      
     $
     5,825

     2.0

     $
     8,657

     2.9

(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 carbon flat products segment increased 6.0% to 233 thousand in the first quarter of 2025 from 220 thousand in the first quarter of 2024. We do not report tons sold for our end-use products. 

Net sales in our carbon flat products segment decreased $14.7 million, or 4.9%, to $286.2 million in the first quarter of 2025 from $301.0 million in the first quarter of 2024. The decrease in sales was attributable to a 10.3% decrease in average selling prices in the first quarter of 2025 compared to the first quarter of 2024, partially offset by a 6.0% increase in tons sold. Average selling prices in the first quarter of 2025 decreased to $1,229 per ton, compared with $1,370 per ton in the first quarter of 2024.

Cost of materials sold decreased $20.3 million, or 8.6%, to $215.3 million in the first quarter of 2025 from $235.6 million in the first quarter of