Distributors/Service Centers
October 29, 2025
Olympic reports lower Q3 profits after Ryerson merger announcement
Written by Ethan Bernard
Olympic Steel Inc.
| Third quarter ended Sept. 30 | 2025 | 2024 | Change |
|---|---|---|---|
| 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% |
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.
