Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 14

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 impact of discrete items and non-deductible expenses on the effective tax rate is greater when pre-tax income is lower.
    
   On  July 4, 2025, the OBBBA was enacted in the U.S. The OBBBA includes the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business deductions. The legislation has multiple effective dates, with certain provisions effective in 2025. The impact of the OBBBA to the tax provision was evaluated and there was no impact to the tax rate as of  September 2025. 

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    13.  Shares Outstanding and Earnings Per Share: 

   Earnings per share have been calculated based on the weighted average number of shares outstanding as set forth below:

       For the Three Months Ended    For the Nine Months Ended  
   September 30,    September 30,  
 (in thousands, except per share data)   2025    2024    2025    2024  
 Weighted average basic shares outstanding   11,744   11,695   11,739   11,673 
 Assumed exercise of stock options and issuance of stock awards   19   -   22   - 
 Weighted average diluted shares outstanding   11,763   11,695   11,761   11,673 
 Net income  $2,154  $2,734  $9,900  $19,091 
 Basic earnings per share  $0.18  $0.23  $0.84  $1.64 
 Diluted earnings per share  $0.18  $0.23  $0.84  $1.64 
 Unvested RSs and RSUs   138   140   138   140 

    14.  Stock Repurchase Program: 

   On  October 2, 2015, the Company announced that its Board of Directors authorized a stock repurchase program of up to 550,000 shares of the Company’s issued and outstanding common stock, which could include open market repurchases, negotiated block transactions, accelerated stock repurchases or open market solicitations for shares, all or some of which  may be effected through Rule