Olympic Steel GAAP EPS of $0.34 beats by $0.13, revenue of $520.0M misses by $58.9M

• Olympic Steel press release (NASDAQ:ZEUS): Q4 GAAP EPS of $0.34 beats by $0.13.
• Revenue of $520.0M (-16.7% Y/Y) misses by $58.9M.

• Full-Year Results

• Net income for 2022 totaled $90.9 million, or $7.87 per diluted share, compared with net income of $121.1 million, or $10.52 per diluted share, in 2021.

• The results include $0.6 million of LIFO pre-tax expense in 2022, compared with $21.9 million of LIFO pre-tax expense in 2021. Adjusted EBITDA for 2022 was $152.0 million, compared with $211.1 million in 2021.

• Sales for 2022 totaled $2.6 billion compared with $2.3 billion in 2021.

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