secwatch.observer — SEC 8-K summary
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Issuer:     Worthington Steel, Inc. (WS)
CIK:        0001968487
Form:       8-K
Filed at:   2024-03-26T23:59:59+00:00
Accession:  0000950170-24-036589
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1968487/000095017024036589/0000950170-24-036589-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1968487/000095017024036589/ws-20240320.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-036589

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