secwatch.observer — SEC 8-K summary
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Issuer:     Worthington Steel, Inc. (WS)
CIK:        0001968487
Form:       8-K
Filed at:   2024-06-28T23:59:59+00:00
Accession:  0000950170-24-079047
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Worthington Steel Q4 net sales $911M (+3%), net earnings $53.2M (-21% YoY); declares $0.16 dividend
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1968487/000095017024079047/0000950170-24-079047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1968487/000095017024079047/ws-20240626.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-079047

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