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Olympic Steel (Nasdaq: ZEUS), a prominent national metals service center, has promoted George Frost to Vice President - Aluminum. This move aligns with the company's strategic growth plans in the specialty metals market. Frost, who will report directly to Andy Markowitz, President - Specialty Metals, brings extensive knowledge of the aluminum sector. His leadership is expected to help Olympic Steel expand its market share and strengthen its position as a top aluminum distributor. Frost holds a Bachelor's degree from Western Carolina University and an MBA from the University of Phoenix. He is actively involved in the Metals Service Center Institute's (MSCI) Aluminum Products Board and the DEI Task Force.
Olympic Steel, Inc. (Nasdaq: ZEUS) reported financial results for Q1 2024, with net income of $8.7 million and sales of $527 million. Despite a decline in income and sales compared to Q1 2023, the company remains in a strong financial position. The CEO highlighted growth in shipping volumes, diversification into higher-value products, and market share gains. The company plans to invest in organic growth, automation, and acquisitions. A cash dividend of $0.15 per share was approved. Adjusted net income per diluted share was $0.77, compared to $1.15 in Q1 2023.