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    February 24, 2022

    Strong Q4 Leads to Most Profitable Year in Olympic Steel's History

    Written by David Schollaert

    Olympic Steel announced record results in the fourth quarter ended Dec. 31, 2021, a strong finish to the company’s most profitable year to date.

    “We achieved record sales and net income for the fourth quarter, a fitting capstone to a year of record-setting performance for Olympic Steel,” said Richard Marabito, Olympic’s CEO. “All three of our operating segments earned record EBITDA in 2021, reflecting not only strong market demand for our products but also the benefits of our diversification and acquisition strategy. At the same time, we remained focused on operational and working capital disciplines, including record inventory turns, which further enhanced our financial performance.”

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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