Distributors/Service Centers

Olympic's Q3 profits fall, announces merger with Ryerson

Written by Ethan Bernard

October 29, 2025

Olympic Steel Inc.

Third quarter ended Sept. 3020252024Change
Net sales$490.7$470.0 4.4%
Net earnings (loss)$2.2$2.7-21.2%
Per diluted share$0.18$0.23 -21.7%
Nine months ended Sept. 30
Net sales$1,480.1$1,522.9-2.8%
Net earnings (loss)$9.9$19.1-48.1%
Per diluted share$0.84$1.64-48.8%
(in millions of dollars except per share)

Olympic Steel reported a decline in third-quarter earnings on Tuesday, as the company separately announced its merger with service center giant Ryerson.

The Cleveland-based national service center chain reported net income of $2.2 million in Q3’25, off 21% from $2.7 million a year earlier. Net sales increased 4% to $490.7 million in the same comparison.

“Despite softer demand caused by trade and interest rate uncertainty, our margins remained solid,” CEO Richard T. Marabito said in a statement on Tuesday.

The company sold 195,600 short tons (st) of flat products in Q3’25, down 4% from a year earlier.

However, Olympic’s sales of specialty flat products increased 11% to 33,083 st in the same comparison.

As previously reported, Ryerson and Olympic announced their merger on Tuesday. The deal is expected to close in Q1’26, subject to customary closing conditions. Olympic canceled its earnings call scheduled for Oct. 31 following the announcement.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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