Olympic Steel, Inc. processes, distributes, and storage metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts. The Specialty Metals Flat Products segment sells and distributes processed aluminum and stainless flat-rolled sheets and coil products, flat bar products, and fabricated parts, as well as stainless steel and aluminum plates, sheets, angles, rounds, flat bars, tubing and pipe, and prime tin mill products. The Tubular and Pipe Products segment distributes metal tubing products, pipes, bars, valves and fittings, and fabricated pressure parts. The company also provides various processing services comprising cutting-to-length, slitting, shearing, roll forming, shape correction, surface improvement, blanking, tempering, plate burning, and stamping as well as offers value-added processing of saw cutting, laser cutting, beveling, threading, and grooving services. In addition, the company provides shot blasting, grinding, edging, and polishing; bending, drilling, milling, tapping, boring, and sawing metal; machining, welding, assembly, and painting of component parts. Further, the company process metals to specified lengths, widths, shapes, and surface. It serves metal consuming industries, such as manufacturers and fabricators of transportation and material handling lift equipment, construction, mining and farm equipment, agriculture equipment, storage tanks, environmental and energy generation equipment, automobiles, food service, commercial appliances, and electrical equipment as well as military vehicles and equipment, general and plate fabricators, and metals service centers through direct sales force. Olympic Steel, Inc. was founded in 1954 and is based in Bedford Heights, Ohio.
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Here are 1-2 brief analogies for Olympic Steel (ZEUS):
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- Carbon Flat-Rolled Steel: Olympic Steel processes and distributes various forms of carbon flat-rolled steel, including sheets, plates, and coils.
- Stainless Steel: The company provides a range of processed stainless steel products in various grades and finishes.
- Aluminum: Olympic Steel offers processed aluminum products in diverse alloys and forms to various industries.
- Value-Added Processing Services: They provide custom metal processing capabilities such as slitting, cut-to-length, blanking, shearing, laser cutting, forming, and welding to meet specific customer requirements.
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Olympic Steel (ZEUS) sells primarily to other companies (B2B).
The company serves a highly diversified customer base of approximately 7,000 customers. According to its latest 10-K filing, no single customer accounted for more than 5% of its net sales in 2023, 2022, or 2021. This means Olympic Steel does not have "major customers" in the traditional sense of a few dominant clients, and therefore, no specific customer company names are disclosed.
Instead, Olympic Steel's products and services are sold to a wide array of manufacturers and industrial companies across various sectors. The major categories of customer companies it serves include:
- Manufacturers in the Transportation sector (e.g., producers of automobiles, buses, and trucks).
- Manufacturers of Industrial Machinery and Equipment (e.g., heavy equipment, material handling equipment).
- Companies in the Agricultural sector (e.g., agricultural equipment manufacturers).
- Companies operating in the Construction industry.
- Manufacturers of various Consumer Durable Goods (e.g., HVAC equipment).
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Richard T. Marabito, Chief Executive Officer
Mr. Marabito joined Olympic Steel in 1994, serving as Corporate Controller, then Chief Financial Officer from March 2000 through 2018, and has been Chief Executive Officer since January 2019. He began his career in public accounting at Arthur Andersen. Mr. Marabito served on the Board of Directors and as Audit Committee Chairman for Hawk Corporation (ASE:HWK) from 2008 until the company's sale in November 2010. He currently serves as Chairman of the Metals Service Center Institute (MSCI), on the Board of Directors at CBIZ Inc. (NYSE: CBZ), and on the Board of Trustees at the University of Mount Union.
Richard A. Manson, Chief Financial Officer
Mr. Manson has served as Chief Financial Officer of Olympic Steel. Prior to this role, he held positions as VP:HR & Administration and VP/Treasurer at Olympic Steel. He previously worked as a Tax Manager at Arthur Andersen LLP. Mr. Manson is a Board Member at Boys & Girls Clubs of Cleveland.
Michael D. Siegal, Executive Chairman of the Board
Mr. Siegal, the son of co-founder Sol Siegal, joined Olympic Steel in 1974. He became Chief Executive Officer in 1984, Chairman of the Board in 1994, and Executive Chairman of the Board in 2019. Under his leadership, Olympic Steel went public in 1994 and expanded through acquisitions, greenfield operations, and organic growth. Mr. Siegal has previously served on the Board of Directors of Cliffs Natural Resources Inc., the Metals Service Center Institute (MSCI), University Hospitals of Cleveland, and the Rock and Roll Hall of Fame and Museum. He currently serves as the president of the Maccabi World Union and is on the board at Twin City Fan Companies, LTD.
Andrew S. Greiff, President & Chief Operating Officer
Mr. Greiff serves as the President and Chief Operating Officer of Olympic Steel. He has been involved in the company's strategic initiatives, including the acquisition of Metal-Fab Inc., and plays a key role in the fabrication growth strategy.
Edward "Max" Fitzgerald, Vice President - Fabrication
Mr. Fitzgerald joined Olympic Steel in the newly created role of Vice President - Fabrication. He brings over 23 years of experience in new product development, global supply chain management, operations management, and strategic planning. His most recent role before joining Olympic Steel was Global Category Procurement Manager for a leading international original equipment manufacturer (OEM).
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The addressable markets for Olympic Steel (symbol: ZEUS) in North America and the United States for their main products and services are as follows:
- Flat Steel Products (Carbon, Coated, Stainless): The U.S. flat steel market was valued at USD 77.62 billion in 2022 and is projected to grow to USD 79.96 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 1.6% from 2023 to 2030. Another estimate places the U.S. flat steel market at USD 76.2 billion by 2034 with a CAGR of 4.8% from 2025 to 2034.
- Carbon Steel Products: The U.S. carbon steel market generated a revenue of USD 73.06 billion in 2024 and is expected to reach USD 89.52 billion by 2030, with a CAGR of 3.4% from 2025 to 2030. Other estimates indicate the U.S. carbon steel market is expected to be valued at approximately USD 149.2 billion in 2024 and reach USD 234.6 billion by 2035, growing at a CAGR of 4.2% from 2025 to 2035.
- Stainless Steel Products: The U.S. stainless steel market size was valued at USD 16.59 billion in 2022 and is projected to grow at a CAGR of 6.5% during the forecast period. The North America stainless steel market was valued at USD 18.26 billion in 2024 and is projected to reach USD 26.01 billion by 2034, with a CAGR of 3.60% between 2025 and 2034.
- Aluminum Products: The U.S. aluminum market size was valued at USD 12.47 billion in 2023 and is predicted to reach USD 17.13 billion by 2030, growing at a CAGR of 4.6% from 2024 to 2030. Another report estimates the U.S. aluminum and aluminum products market to reach USD 22 billion by 2031, with a CAGR of 5.0% during the forecast period of 2025-2031.
- Metal Fabrication Services: The market size of the Fabricated Structural Metal Manufacturing in the U.S. is estimated at USD 65.5 billion in 2025. The North American metal fabrication market size stands at USD 68.22 billion in 2025 and is projected to reach USD 86.61 billion by 2030, with a CAGR of 4.89% over the forecast period.
- Steel Service Centers: The U.S. steel service centers market is projected to be valued at USD 237.6 million in 2024 and is expected to reach USD 320.5 million in 2033, at a CAGR of 3.4%. The North American steel service center market, which holds a 25% market share of the global market, was valued at USD 100 billion in 2024 and is projected to reach USD 200 billion by 2034, at a CAGR of 7.2%. The top 50 service center companies in North America reported sales of USD 85 billion in 2023.
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Expected Drivers of Future Revenue Growth for Olympic Steel (ZEUS)
Over the next 2-3 years, Olympic Steel (NASDAQ: ZEUS) is expected to drive revenue growth through several key initiatives and market trends:
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Merger with Ryerson: The recently announced merger with Ryerson is anticipated to create North America's second-largest metal service center. This strategic consolidation is projected to generate $120 million in synergies over two years, indicating revenue growth through increased scale, expanded market reach, and operational efficiencies.
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Diversification into Higher-Margin Products and Services: Olympic Steel's ongoing strategy to diversify its business and focus on higher-margin opportunities is a significant driver. This includes investments in flat-rolled coated products and the expansion of fabrication capabilities, which have helped maintain solid margins even in challenging market conditions.
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Strategic Investments in Organic Growth and Acquisitions: The company is well-positioned for continued investment in both organic growth initiatives and strategic acquisitions. These investments include capital expenditures in automation and enhancing fabrication and processing capabilities, which are expected to expand existing operations and contribute to future revenue.
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Market Share Expansion in Specialty Metals: Olympic Steel is focused on gaining market share, particularly within its stainless steel and aluminum product lines. The Specialty Metals segment demonstrated strong performance in the third quarter of 2025, achieving its highest shipping quarterly volume in the past three years.
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Benefiting from Long-term Industry Trends: Olympic Steel is strategically positioned to capitalize on broader industry tailwinds, including long-term growth in the steel market, positive U.S. manufacturing trends, and significant infrastructure investments. These macroeconomic factors are expected to support sustained demand for their products and services.
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Share Repurchases
- Olympic Steel had an authorized stock repurchase program from 2015 for up to 550,000 shares, with 360,212 shares remaining authorized as of September 30, 2025.
- No shares were repurchased during 2024 or 2025 (up to Q3).
- No shares were repurchased during the first three months of 2021 or 2022.
Share Issuance
- In the first quarter of 2022, 20,000 restricted stock units and 20,000 performance stock units were granted under the C-Suite Long Term Incentive Plan. [cite: Original search result 4]
- An at-the-market (ATM) equity program for the issuance and sale of common stock commenced on September 3, 2021. [cite: Original search result 4]
Inbound Investments
- CSM Advisors LLC purchased a new stake in Olympic Steel, Inc. during the second quarter of 2025, valued at approximately $5.96 million. [cite: Original search result 13]
Outbound Investments
- Olympic Steel acquired Metal-Fab, Inc. in January 2023 for approximately $130-131 million.
- Olympic Steel acquired Central Tube and Bar, Inc. in October 2023 for $37.8 million through an all-cash purchase.
- Olympic Steel acquired Metal Works in November 2024 for $80 million through an all-cash transaction. [cite: 3, Original search result 23, 12, 13, 16, 17]
Capital Expenditures
- Planned capital expenditures for 2025 are approximately $35 million, with $8.8 million spent in Q1 2025, focusing on automation and organic growth initiatives. [cite: Original search result 24, Original search result 19] The full-year target for 2025 capital expenditures is $50 million. [cite: Original search result 9, Original search result 16]
- Capital expenditures were $29 million in 2024, $22 million in 2023, $22 million in 2022, and $19 million in 2021.
- Recent and ongoing capital investments include new cut-to-length lines in Minneapolis and Chicago, a high-speed specialty stainless slitter at Berlin Metals, and automation of the Chambersburg fabrication operation. [cite: Original search result 22]
