WS Research | Milton Maxwell

Worthington Steel, Inc.

35.46

+0.01+0.03%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q3 '26

3/25/26Mar 25, 2026

Key Stats

Market Cap

1.80B

P/E (TTM)

15.09

Basic EPS (TTM)

2.35

Dividend Yield

0.02%

Recent Filings

8-K

3/26/26Mar 26, 2026

8-K

Lowers Kloeckner threshold to 57.5%

3/10/26Mar 10, 2026

Worthington Steel cut its Kloeckner takeover minimum acceptance threshold from 65% to 57.5% on March 10, 2026, extending the period to March 26. With 56.9% already secured as of March 9, this eases closing odds while prior tenders can withdraw. Deal hinges on hitting the new bar.

8-K

Launches €11 Kloeckner takeover

1/22/26Jan 22, 2026

Worthington Steel signed a business combination agreement on January 15, 2026, for its German subsidiary to launch a voluntary public cash offer of €11.00 per share for Kloeckner & Co SE shares, backed by a 42% shareholder's irrevocable undertaking and targeting 65% acceptance. The deal, funded by up to €1.632 billion equity commitment and US$1.9 billion debt commitments, amended the revolving credit facility to permit it. Regulatory clearances loom large.

10-Q

Q2 FY2026 results

1/8/26Jan 8, 2026

Worthington Steel posted Q2 FY2026 net sales of $871.9M, up 18% y/y, with gross margin at 10.7% amid higher direct volumes and spreads; operating income rose to $21.7M from $18.9M y/y, diluted EPS hit $0.37 from $0.25. Automotive drove 56% of sales, up from 52%, while equity income from Serviacero Worthington swung to $6.8M profit. Cash climbed to $89.8M, operations generated $93.0M; total debt $182.1M with $306.1M revolver availability. Sitem Group acquisition closed June 2025 for $66.3M (cash/contingent/Tempel Nagold), adding $21.5M goodwill. Volumes dipped 4% y/y. Steel imports pressure pricing.

8-K

Q2 sales up 18%, dividend steady

12/19/25Dec 19, 2025

Worthington Steel posted Q2 FY2026 net sales of $871.9 million, up 18% on 13% higher direct volumes despite 24% toll drop from prior facility closure. Operating income hit $21.7 million; adjusted EBIT climbed to $26.6 million. Board declared $0.16/share dividend, payable March 27, 2026. Direct mix rose to 65%, fueling resilience amid mixed markets.

About

Worthington Steel, Inc. operates as a steel processor in North America. The company offers carbon flat-rolled steel and tailor welded blanks, as well as automotive and electrical steel lamination stampings; and aluminum tailor welded blanks. It serves automotive, construction, machinery and equipment, heavy truck, agriculture, and energy sectors. The company was incorporated in 2023 and is headquartered in Columbus, Ohio.

CEO

Mr. John B. Blystone

IPO

11/28/2023

Website

https://www.worthingtonsteel.com

Employees

6,000

Sector

Basic Materials

Industry

Steel