Steel Mills
August 2, 2016
Olympic Steel: Steel Mills Continue to Show Discipline
Written by Sandy Williams
Olympic Steel announced net income of $3.6 million in the second quarter 2016, up substantially from the $22.3 million loss in Q2 2015. Consolidated net sales for the quarter were $273.6 million.
Second quarter shipments of carbon flat products totaled 272,000 tons, up 2 percent from first quarter, and 2 percent below Q2 2015. Net sales of $173 million improved 7 percent from first quarter but were down 17 percent year-over-year due to a 15 percent decline in average selling price. Carbon products comprised 63 percent of sales in the first half of 2016.
