More on Olympic Steel Q4 results
Sales by segments: Carbon flat $270.3M (+35.3% Y/Y); Specialty Metals $88.4M (+65.5% Y/Y) and Tubular & pipe products $70.9M (+29.1% Y/Y).
Carbon flat sold 259,181 tons (+0.4% Y/Y) with average selling price of $1,043 (+34.8% Y/Y) and Specialty Metals sold 35,312 tons (+66.8% Y/Y) with average selling price of $2,505 (-0.7% Y/Y).
Q4 Segment gross margins: Carbon flat declined 194 bps to 17.3%; Specialty Metals declined by 224 bps to 12% and Tubular & pipe products declined by 319 bps to 21.7%.
Q4 operating income totaled $1.8M, compared to an operating loss of $2M in 2017.
Net cash used for operating activities YTD was -$50.5M, compared to -$19.04M a year ago.
Debt-to-equity ratio of 0.99%.
Previously: Olympic Steel misses by $0.05, beats on revenue (Feb. 15)