Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 29

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 29
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26,508

     1.7

      Income taxes 

     952

     0.2

     1,169

     0.2

     4,186

     0.3

     7,417

     0.4

      Net income 
      
     $
     2,154

     0.4

     $
     2,734

     0.6

     $
     9,900

     0.7

     $
     19,091

     1.3

(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 $20.7 million, or 4.4%, to $490.7 million in the third quarter of 2025 from $470.0 million in the third quarter of 2024. Specialty metals flat products net sales were 28.7% of total net sales in the third quarter of 2025 compared to 26.7% of total net sales in the third quarter of 2024. Carbon flat products net sales were 54.7% of total net sales in the third quarter of 2025 compared to 56.4% of total net sales in the third quarter of 2024. Tubular and pipe products net sales were 16.6% of total net sales in the third quarter of 2025 compared to 16.9% of total net sales in the third quarter of 2024. The increase in net sales was due to a 6.5% increase in average selling prices during the third quarter of 2025 compared to the third quarter of 2024, partially offset by and a consolidated 2.0% decrease in sales volume.

Net sales decreased $42.8 million, or 2.8%, to $1.48 billion in the first nine months of 2025 from $1.52 billion