Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 33

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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 treatment for certain business deductions. The legislation has multiple effective dates, with certain provisions effective in 2025. We are currently assessing its impact on our consolidated financial statements. 

Net income for the third quarter of 2025 totaled $2.2 million, or $ 0.18 per basic share and diluted share, compared to net income of $2.7 million, or $ 0.23 per basic and diluted share, for the third quarter of 2024. Net income for the first nine months of 2025 totaled $9.9 million, or $ 0.84 per basic share and diluted share, compared to net income of $19.1 million, or $ 1.64 per basic and diluted share, for the first nine months of 2024. 

     25

Segment Operations

Specialty metals flat products

The following table presents selected operating results for our specialty metals 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 

     32,104

     28,374

     93,827

     87,787

      Toll tons sold 

     979

     1,364

     3,084

     3,549

      Total tons sold 

     33,083

     29,738

     96,911

     91,336

      Net sales 
      
     $
     140,870

     100.0

     $
     125,693

     100.0

     $
     405,114

     100.0

     $
     386,100

     100.0

      Average selling price per ton 

     4,258

     4,227

     4,180

     4,227

      Cost of materials sold 

     113,982

     80.9

     103,450

     82.3

     333,543