Worthington Steel Q2 net loss narrows to $6M; first dividend $0.16/share; spin-off completed

Worthington Steel, Inc.

2023-Q2 EPS reported $1.07 revenue$1,713,800,000

Net sales $808M, net loss $6M ($0.12 loss per diluted share) vs net loss $15.8M ($0.32 loss) in prior year quarter.
Adjusted net earnings (Non-GAAP) $5.4M ($0.11 per share) vs adjusted net loss $11.7M ($0.24 loss) YoY.
Acquired Voestalpine Automotive Components Nagold GmbH for ~$21M, establishing European presence.
Entered $550M credit facility maturing Nov 2028; $175M drawn, $150M repaid to Worthington Enterprises.
Completed spin-off from Worthington Enterprises on Dec 1, shares trade under WS; declared first dividend $0.16/share.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Worthington Steel, Inc. reported Fiscal 2024 Second Quarter Ended November 30, 2023 results: revenue $808.0 million, net income $6.0 million, EPS $0.12 per diluted share.

Period: Fiscal 2024 Second Quarter Ended November 30, 2023
Revenue: $808.0 million
Net income: $6.0 million
EPS: $0.12 per diluted share
Result: reported results

Exact text from the filing

The Company reported net sales of $808.0 million and net loss attributable to controlling interest of $6.0 million, or $0.12 per diluted share, for its fiscal 2024 second quarter ended November 30, 2023.

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Worthington Steel, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-072749

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