News & Events

COLUMBUS, Ohio, March 19, 2025 – Worthington Steel, Inc. (NYSE: WS), a market-leading, value-added metals processing company, today reported financial results for the fiscal 2025 third quarter ended February 28, 2025.

Third Quarter Highlights (all comparisons to the third quarter of fiscal 2024):

• Net sales of $687.4 million decreased 15% compared to $805.8 million.
• Operating income of $18.3 million compared to $66.3 million.
• Net earnings attributable to controlling interest of $13.8 million compared to $49.0 million.
• Net earnings per diluted share attributable to controlling interest of $0.27 compared to $0.98; Adjusted net earnings per diluted share attributable to controlling interest of $0.35 compared to $0.99.
• Adjusted EBIT of $25.3 million compared to $66.9 million.
• We continue to progress on our 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”). We have received regulatory approval and expect to close in early fiscal year 2026.
• We earned Mahle’s 2024 Best Supplier of the Year award. Worthington Steel primarily serves Mahle from its Tempel Steel facility in Chennai, India.
• Declared a quarterly dividend of $0.16 per share payable on June 27, 2025, to shareholders of record at the close of business on June 13, 2025.

“As expected, the headwinds from the second quarter continued into our third quarter of fiscal 2025 as customers managed uncertainty. During the last month of the quarter, we saw signs of fundamental demand improvements,” said Geoff Gilmore, President and CEO, Worthington Steel. “I’d like to thank the Worthington Steel team, who demonstrated remarkable flexibility and resilience this quarter. They focused on what they could control, maintaining a strong commitment to safety and serving our customers.” 

Full results are available on our investor website here.