News & Events

COLUMBUS, Ohio, December 18, 2024 – Worthington Steel, Inc. (NYSE: WS), a market-leading, value-added metals processing company, today reported financial results for the fiscal 2025 second quarter ended November 30, 2024.

Second Quarter Highlights (all comparisons to the second quarter of fiscal 2024):

• Net sales of $739.0 million decreased 9% compared to $808.0 million.
• Operating income of $18.9 million compared to operating loss of $8.8 million.
• Net earnings attributable to controlling interest of $12.8 million compared to net loss attributable to controlling interest of $6.0 million.
• Net earnings per diluted share attributable to controlling interest of $0.25 compared to net loss per dilutive share attributable to controlling interest of $0.12; Adjusted net earnings per diluted share attributable to controlling interest of $0.19 compared to $0.11.
• Adjusted EBIT of $14.3 million compared to $6.6 million.
• Executed a definitive agreement to acquire a controlling equity stake in Italy-based Sitem S.p.A. (together with its subsidiaries, Stanzwerk AG, Decoup S.A.S. and Sitem Slovakia spol. s r.o., “Sitem Group”). Sitem Group produces electric motor laminations and accessory products for automotive and industrial applications in Europe.
• Declared a quarterly dividend of $0.16 per share payable on March 28, 2025, to shareholders of record at the close of business on March 14, 2025.“Worthington Steel delivered a solid quarter despite headwinds across a number of end markets,” said Geoff Gilmore, president and CEO of Worthington Steel.
  

“Worthington Steel delivered a solid quarter despite headwinds across a number of end markets,” said Geoff Gilmore, president and CEO of Worthington Steel. “As we mark our first full year as a publicly traded, stand-alone company, Worthington Steel employees are driving our strategy and achieving new milestones. We continue to provide innovative solutions to our customers and partners, and we are well-positioned to capitalize on key end market trends with our high value-added solutions to generate returns for our shareholders.”

Full results are available on our investor website here.