Welcome to our dedicated page for Olympic Steel news (Ticker: ZEUS), a resource for investors and traders seeking the latest updates and insights on Olympic Steel stock.
Olympic Steel, Inc. (NASDAQ: ZEUS) is a U.S. metals service center that regularly issues news and updates on its operations, financial performance and strategic initiatives. Founded in 1954 and headquartered in Cleveland, Ohio, the company focuses on the direct sale and value-added processing of carbon and coated sheet, plate and coil steel products; stainless steel sheet, plate, bar and coil; aluminum sheet, plate and coil; pipe, tube, bar, valves and fittings; tin plate and a range of metal-intensive end-use products. This news page for ZEUS aggregates company announcements so investors can review how management describes the business over time.
News for Olympic Steel often includes quarterly earnings releases, where the company discusses net income, sales, EBITDA and adjusted EBITDA, as well as commentary on its three segments: specialty metals flat products, carbon flat products and tubular and pipe products. These releases also highlight the performance of its manufactured metal products businesses and provide management’s perspective on macroeconomic conditions affecting the metals industry.
In addition to earnings, ZEUS news items cover strategic transactions and financing. For example, Olympic Steel has announced an amendment and extension of its asset-based revolving credit facility and, in October 2025, a definitive merger agreement with Ryerson Holding Corporation under which Olympic Steel is expected to become a wholly owned subsidiary of Ryerson, subject to shareholder and regulatory approvals and other customary closing conditions.
Company news also features leadership and governance updates, such as appointments and promotions of general managers at specific facilities and the election of new board members. These items provide insight into how Olympic Steel organizes its operations across its 54 facilities and manages its manufactured metal products brands. By reviewing ZEUS news, readers can follow developments in Olympic Steel’s processing footprint, manufactured products portfolio, financing arrangements and the progress of the announced merger with Ryerson.
Olympic Steel (Nasdaq: ZEUS) has successfully amended and extended its $625 million asset-based revolving credit facility through April 17, 2030. The facility, secured by company assets including accounts receivable, inventory, and select real estate, includes an increase option of up to $200 million. Following the amendment, the company has approximately $269 million of availability under the facility.
The funds will be utilized for working capital needs, acquisitions, and future growth initiatives. Bank of America serves as the Administrative Agent and Joint Lead Arranger, with Wells Fargo Bank, KeyBank, Huntington National Bank, and Fifth Third Bank serving various roles in the syndicate.
Olympic Steel (Nasdaq: ZEUS) has appointed Alex Hegler as the new General Manager for its Action Stainless facility in Rock Hill, South Carolina. Hegler, who previously served as Sales Manager for a global specialty metals distributor, brings experience in sales and strategic leadership to the role.
Reporting to Jessica L. Burroughs, Vice President of Action Stainless, Hegler will oversee daily operations and sustainable growth at the Rock Hill facility. The company expects his global experience to drive fabrication-focused growth, particularly in supporting OEMs considering reshoring options for metal processing.
Hegler, who holds a Bachelor of Science in business administration from the University of South Carolina, succeeds John McAuliffe, who is retiring after nearly 20 years with the company.
Olympic Steel (Nasdaq: ZEUS) has achieved the prestigious Partner-level Supplier status for 2024 in the John Deere Achieving Excellence Program, marking the highest supplier rating from Deere & Company. The recognition comes from Olympic Steel's outstanding commitment to quality products and services, along with continuous improvement initiatives.
Multiple Olympic Steel facilities provide first-stage metal processing and fabrication services to support John Deere's operations. The annual evaluation program, established in 1991, assesses suppliers across key performance categories including quality, delivery, process alignments, value creation, and relationship.
Olympic Steel (Nasdaq: ZEUS) has announced the opening of a new 105,000-square-foot facility in Houston, Texas, to support its Action Stainless business operations. The new location at Houston Oaks Drive represents a significant expansion, increasing the operation's footprint by 73,000 square feet compared to its previous Zoltowski Street location.
The expanded warehouse space will enhance Action Stainless's fabrication capabilities. As a full-line distributor of stainless steel, aluminum, and specialty alloy products, the company offers various services including robotic welding, cutting, forming, and finishing. The Houston facility, managed by Jeff Lyons, joins existing Action Stainless locations in Dallas, Kansas City, and Rock Hill.
Olympic Steel (Nasdaq: ZEUS) has appointed Joseph D. Goins as General Manager for its Action Stainless facility in Dallas, Texas. Goins, a U.S. Air Force veteran with extensive metals and manufacturing industry experience, will oversee the facility's daily operations and strategic growth, particularly in expanding its fabrication business.
The appointment comes during a significant 12-18 month transformation period for Action Stainless. Goins brings leadership experience in strategic sourcing, procurement, sales, and operations management, along with Lean Six Sigma Black Belt certification. He will report to Jessica L. Burroughs, Vice President – Action Stainless.
Olympic Steel (Nasdaq: ZEUS) has promoted Jerry Gideon to the newly created position of Vice President – Specialty Metals Sales. Gideon, who joined the company in 2010 through the Integrity Stainless acquisition, has served in various roles including General Manager for the Streetsboro, Ohio facility and most recently as Commercial Director – Specialty Metals.
In his new role, Gideon will report to Andy Markowitz, President – Specialty Metals. The promotion is aimed at accelerating growth in the specialty metals business, with a particular focus on expanding fabrication services and capabilities. Gideon brings over 15 years of experience with Olympic Steel and serves on the Board of Directors for the Metals Service Center Institute Northern Ohio Division.
Olympic Steel (Nasdaq: ZEUS) has announced the promotion of Scott M. Zito to the newly created position of Vice President – Business Development. Zito, who joined the company in 1983 as an Inside Sales Representative, brings over 40 years of industry experience to the role.
Throughout his career at Olympic Steel, Zito has served in various commercial positions, including Outside Sales Representative covering upstate New York and the Southeastern U.S., and most recently as Director – Business Development in the Chicago area. In his new role, he will focus on driving growth through commercial partnerships across Olympic Steel's portfolio of businesses, reporting directly to Andrew S. Greiff, President and Chief Operating Officer.
Olympic Steel (NASDAQ: ZEUS) reported Q4 2024 results with net income of $3.9 million ($0.33 per diluted share), down from $7.4 million ($0.64 per diluted share) in Q4 2023. Q4 2024 sales decreased to $419 million from $489 million year-over-year, while Adjusted EBITDA was $14.5 million, showing sequential improvement from Q3 2024 but lower than Q4 2023's $16.7 million.
For full-year 2024, net income was $23.0 million ($1.97 per diluted share), compared to $44.5 million ($3.85 per diluted share) in 2023. Annual sales declined to $1.9 billion from $2.2 billion in 2023. Despite challenging market conditions, all three segments maintained positive EBITDA throughout 2024. The company completed the acquisition of Metal Works and increased its quarterly dividend by 7% to $0.16 per share.
Olympic Steel (Nasdaq: ZEUS) has announced the promotion of Brant Harbert to General Manager for the company's Bedford Heights and Dover, Ohio facilities. Harbert, who joined in 2014 as an Inside Sales Representative before becoming Regional Sales Manager, succeeds Kevin Miller, who has been promoted to a new leadership role.
In his new position, Harbert will oversee daily operations and growth of these facilities, including one of the company's three temper mills. The Bedford Heights operation has recently received investments including new lasers for fabrication market growth and a stacking and packaging line to increase throughput capacity. Harbert will report to Andrew Wolfort, Vice President – Specialty Metals, who also oversees the Gary, Indiana temper mill facility.