Worthington Steel Q3 net earnings surge to $49M ($0.98/sh) from $5.4M YoY; declares $0.16 dividend

Worthington Steel, Inc.

2024-Q3 EPS reported $2.05 revenue$2,519,600,000

Net earnings $49.0M ($0.98 diluted EPS) vs $5.4M ($0.11) in Q3 FY2023; net sales $805.8M, up 3% YoY.
Quarterly dividend of $0.16 per share declared, payable June 28, 2024 to holders of record June 14, 2024.
Special performance share awards for CEO Gilmore ($2.5M target), Exec Chairman Blystone ($1M), COO Klingler ($750k), CFO Adams ($700k) tied to 3-year ATSR and 5-year retention.
Awards vest in one-third increments on 3rd, 4th, and 5th anniversaries if performance condition met; threshold at 50% of target, max at 150%.

item 2.02 item 5.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Worthington Steel, Inc. reported the three months ended February 29, 2024 (the third quarter of fiscal 2024) and the nine months ended February 29, 2024 results: revenue $805.8 million, net income $49.0 million, EPS $0.98 per diluted share.

Period: the three months ended February 29, 2024 (the third quarter of fiscal 2024) and the nine months ended February 29, 2024
Revenue: $805.8 million
Net income: $49.0 million
EPS: $0.98 per diluted share
Result: reported results

Exact text from the filing

Worthington Steel, Inc. (NYSE: WS) today reported financial results for the fiscal 2024 third quarter ended February 29, 2024. The Company reported net sales of $805.8 million and net earnings attributable to controlling interest of $49.0 million, or $0.98 per diluted share, for its fiscal 2024 third quarter.

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Source: SEC EDGAR

accession 0000950170-24-036589

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