News & Events

COLUMBUS, Ohio, March 25, 2026 – Worthington Steel, Inc. (NYSE: WS), a market-leading, value-added metals processing company, today reported financial results for the fiscal 2026 third quarter ended February 28, 2026.

Third Quarter Highlights (all comparisons to the third quarter of fiscal 2025):

• Net sales of $769.8 million increased 12% compared to $687.4 million.
• Operating income of $3.1 million compared to $18.3 million.
• Net earnings attributable to controlling interest of $10.4 million compared to $13.8 million.
• Net earnings per diluted share attributable to controlling interest of $0.20 compared to $0.27; adjusted net earnings per diluted share attributable to controlling interest of $0.27 compared to $0.35.
• Adjusted EBIT of $20.0 million compared to $25.3 million.
• Entered into a Business Combination Agreement with Kloeckner & Co SE (“Kloeckner”) (XETR: KCO), a German-based metals processor with operations in Europe and North America. Under the agreement, Worthington Steel launched a voluntary public tender offer for all outstanding shares of Kloeckner for €11 per share. Completion of the acquisition offer is expected to occur in the second half of calendar year 2026, subject to the minimum acceptance threshold and pending regulatory approvals and other customary closing conditions.
• Declared a quarterly dividend of $0.16 per share payable on June 26, 2026, to shareholders of record at the close of business on June 12, 2026.

  “This was a challenging quarter from a macroeconomic standpoint, but our focus did not change,” said Geoff Gilmore, President and CEO of Worthington Steel. “We remained grounded in our safety-first culture, executed with discipline and continued to serve customers well. We also took an important step forward with our proposed acquisition of Kloeckner, which we believe will be transformational for Worthington Steel and support long-term value creation.”