Company: ZEUS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001437749-25-024377
Chunk: 36

Company: OLYMPIC STEEL INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 36
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 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 decreased 14 thousand to 215 thousand in the second quarter of 2025 from 229 thousand in the second quarter of 2024. Tons sold by our carbon flat products segment decreased 1 thousand to 448 thousand in the first six months of 2025 from 449 thousand in the first six months of 2024. We do not report tons sold for our end-use products. 

Net sales in our carbon flat products segment decreased $25.2 million, or 8.2%, to $282.5 million in the second quarter of 2025 from $307.8 million in the second quarter of 2024. Average selling prices in the second quarter of 2025 decreased to $1,315 per ton, compared with $1,343 per ton in the second quarter of 2024. The decrease in sales was attributable to a $28 decrease in average selling prices per ton in the second quarter of 2025 compared to the second quarter of 2024, partially offset by a 14 thousand ton increase in tons sold. 

Net sales in our carbon flat products segment decreased $40.0 million, or 6.6%, to $568.8 million in the first six months of 2025 from $608.7 million in the first six months of 2024. Average selling prices in the first six months of 2025 decreased to $1,270 per ton, compared with $1,356 per ton in the first six months of 2024. The decrease in sales was attributable to a $86 decrease in average selling prices per ton in the first six months of 2025 compared to the first six months of 2024 and a 1 thousand ton decrease in tons sold. 

Cost of materials sold decreased $34.4   million, or 14.1%, to $209.6 million in the second quarter of 2025 from $244.0 million in the second quarter of 2024. Cost of materials sold decreased $54.7  million, or 11.4%,