earnings
confidence high
sentiment negative
materiality 0.70
Worthington Steel Q4 net sales $911M (+3%), net earnings $53.2M (-21% YoY); declares $0.16 dividend
Worthington Steel, Inc.
2024-FY EPS reported
$3.11
revenue$3,430,600,000
- Net sales of $911.0M (+3% YoY); net earnings of $53.2M ($1.06 diluted EPS) vs $67.3M ($1.37) prior year.
- Adjusted diluted EPS of $1.06, down from $1.47 in prior year quarter; operating income $67.3M vs $89.8M.
- Gross margin declined $19.2M to $131.0M due to lower direct spreads and inventory holding loss of $3.4M vs prior year gain of $32.6M.
- Capital expenditures of $44.8M for strategic expansions in electrical steel operations in Mexico and Canada.
- Declared quarterly dividend of $0.16 per share, payable Sept 27, 2024; record date Sept 13, 2024.