News & Events

COLUMBUS, Ohio, June 24, 2026 – Worthington Steel, Inc. (NYSE: WS), a market-leading, value-added metals processing company, today reported financial results for the fiscal 2026 fourth quarter ended May 31, 2026.

Fourth Quarter Highlights (all comparisons to the fourth quarter of fiscal 2025):

• Net sales of $929.2 million increased 12% compared to $832.9 million.
• Operating loss of $57.6 million compared to operating income of $66.4 million due primarily to non-cash impairments in the Electrical Steel reporting unit and acquisition related expenses in the fourth quarter of fiscal 2026.
• Net loss attributable to controlling interest of $48.7 million compared to net earnings attributable to controlling interest of $55.7 million.
• Net loss per diluted share attributable to controlling interest of $0.98 compared to net earnings per diluted share attributable to controlling interest of $1.10; adjusted net earnings per diluted share attributable to controlling interest of $0.74 compared to $1.05.
• Adjusted EBIT of $54.0 million compared to $70.1 million.
• In January 2026, the Company entered into a business combination agreement with Klöckner & Co SE (“Kloeckner”) and launched a voluntary public cash takeover offer for all outstanding Kloeckner shares at €11.00 per share. During the fourth quarter, shares representing a majority of Kloeckner’s outstanding share capital were tendered into the offer, satisfying the minimum acceptance threshold. On June 3, 2026, subsequent to the end of fiscal 2026, the Company completed settlement of the offer and its acquisition of a majority interest in Kloeckner, securing approximately 62% of Kloeckner’s outstanding shares following settlement (the “Kloeckner Acquisition”), representing a significant milestone toward eventual operating control and value capture.
• Recognized as a John Deere Partner-level Supplier for the 14^th consecutive year and received John Deere’s inaugural Community Engagement Award.
• Named a Top Workplace in Columbus by Columbus CEO magazine, marking the 14^th consecutive year the Company has earned this recognition.
• Declared a quarterly dividend of $0.16 per share payable on September 29, 2026, to shareholders of record at the close of business on September 15, 2026.
  

“Worthington Steel closed fiscal 2026 with continued progress against our long-term strategy,” said Geoff Gilmore, president and chief executive officer. “Fourth quarter results reflected solid execution in a mixed market with tighter year-over-year value-added spreads, which are beginning to normalize. Higher net sales were supported by growth in our direct business and continued focus on value-added solutions for customers. The completion of the Kloeckner transaction shortly after year-end marks the largest acquisition in our history and a defining step in building a stronger, more diversified metals processing platform. As we move forward, our priorities remain clear: safety, customer service, operational discipline, integration readiness and strong returns for shareholders.”

Full results are available on our investor site here.