Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 37

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 37
---
 (a) 

     65,544

     24.4

     56,756

     21.4

     209,376

     25.0

     185,875

     21.3

      Operating expenses (b) 

     64,267

     23.9

     56,322

     21.2

     194,881

     23.3

     171,423

     19.6

      Operating income 
      
     $
     1,277

     0.5

     $
     434

     0.2

     $
     14,495

     1.7

     $
     14,452

     1.7

(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 decreased eight thousand to 196 thousand in the third quarter of 2025 from 204 thousand in the third quarter of 2024. Tons sold by our carbon flat products segment decreased ten thousand to 643 thousand in the first nine months of 2025 from 653 thousand in the first nine months of 2024. We do not report tons sold for our end-use products. 

Net sales in our carbon flat products segment increased $3.4 million, or 1.3%, to $268.2 million in the third quarter of 2025 from $264.9 million in the third quarter of 2024. Average selling prices in the third quarter of 2025 increased to $1,371 per ton, compared with $1,297 per ton in the third quarter of 2024. The increase in sales was attributable to a $74 increase in average selling prices per ton in the third quarter of 2025 compared to the third quarter of 2024, partially offset by an eight thousand ton decrease in tons sold. 

Net sales in our carbon flat products segment decreased $36.6 million, or 4.2%, to $837.0 million in the first nine months of 2025 from $873.6 million in the first