Highest-materiality recent filing
Worthington Steel acquires Klöckner at €11.00/share; pro forma FY25 net loss $12.4M
Acquisition of Klöckner & Co SE completed June 3, 2026 for €11.00 cash per share.
Worthington Steel corrects Q4 FY2026 results: operating loss $74.5M, adds impairment charges
Net sales $929.2M (+12% YoY); operating loss $74.5M vs prior income $66.4M due to Electrical Steel impairments.
Worthington Steel enters $550M ABL facility to refinance prior credit and fund Klöckner acquisition
New $550M asset-based revolving credit facility matures June 25, 2031; replaces $550M facility that would have matured Nov 30, 2028.
Worthington Steel Q4: net loss $0.98/share, adj. EPS $0.74; completes Kloeckner acquisition
Net sales $929.2M (+12% YoY); net loss $48.7M vs net earnings $55.7M; operating loss of $57.6M due to impairments and acquisition costs.
Worthington Steel completes €576M acquisition of Kloeckner & Co, secures ~62% stake
Completed voluntary takeover of Kloeckner on June 3, 2026; holds ~62% of outstanding shares.
Worthington Steel prices $700M 7.75% notes due 2033 and $700M term loan for Klöckner acquisition
Issued $700M 7.750% senior secured notes due 2033; $700M term loan B at SOFR+4.00% or base rate+3.00%.
Worthington Steel receives final German merger clearance; Klöckner deal closing June 3
German Federal Cartel Office granted merger control clearance on May 27, 2026, fulfilling the final regulatory condition for the Klöckner acquisition.
WS Escrow LLC offers $900M aggregate principal of senior secured notes due 2033 to fund pending Klöckner acquisition.
Worthington Steel exceeds 57.5% minimum acceptance in Kloeckner & Co tender offer
Secured ~58.8% of Kloeckner issued share capital, surpassing the 57.5% threshold.
Net sales $769.8M (+12% YoY); operating income $3.1M vs $18.3M; GAAP EPS $0.20 vs $0.27.
Minimum acceptance threshold reduced from 65% to 57.5%; acceptance period extended to March 26, 2026.
Bidder Worthington Steel GmbH launched a voluntary public cash tender offer at €11.00 per Kloeckner share.
Worthington Steel Q2 FY2026: Net sales up 18% to $872M; adj. EPS $0.38 vs $0.19
Net sales $871.9M (+18% YoY); operating income $21.7M vs $18.9M.
Net sales $872.9M, up 5% YoY on improved pricing/mix despite 7% lower volume (928,866 tons).
Q4 net sales $832.9M, down 9% YoY; volume 982K tons vs 1.03M tons.
Worthington Steel Q3 revenue down 15%, EPS $0.27; Sitem acquisition on track
Net sales $687.4M, -15% YoY; operating income $18.3M vs $66.3M.
Q2 net earnings $12.8M ($0.25/sh) vs loss $6.0M; adjusted EPS $0.19 vs $0.11.
Worthington Steel Q1 adjusted EPS $0.56 (down 56% YoY); revenue falls 8% to $834M
Net sales of $834.0M, down 8% YoY from $905.8M; operating income $43.4M vs $69.7M.
Worthington Steel Q4 net sales $911M (+3%), net earnings $53.2M (-21% YoY); declares $0.16 dividend
Net sales of $911.0M (+3% YoY); net earnings of $53.2M ($1.06 diluted EPS) vs $67.3M ($1.37) prior year.
Worthington Steel Q3 net earnings surge to $49M ($0.98/sh) from $5.4M YoY; declares $0.16 dividend
Net earnings $49.0M ($0.98 diluted EPS) vs $5.4M ($0.11) in Q3 FY2023; net sales $805.8M, up 3% YoY.
Worthington Steel Q2 net loss narrows to $6M; first dividend $0.16/share; spin-off completed
Net sales $808M, net loss $6M ($0.12 loss per diluted share) vs net loss $15.8M ($0.32 loss) in prior year quarter.
Worthington Steel completes spin-off from Worthington Enterprises, begins trading on NYSE under WS
Separation effective Dec 1, 2023; each Worthington Enterprises share converted to one Worthington Steel share.
Also on June 23, 2026, the Board of Directors of the Company appointed Gwen Joseph as Corporate Controller and Principal Accounting Officer of the Company, effective June 23, 2026.
On June 23, 2026, Steven R. Witt announced his retirement from his position as Corporate Controller and Principal Accounting Officer of Worthington Steel, Inc. (the “Company”), effective June 23, 2026.
Joseph Y. Heuer, who was named interim General Counsel effective January 24, 2024.
On January 22, 2024, Michaune D. Tillman, Vice President – General Counsel and Secretary of Worthington Steel, Inc. (“we,” “us,” “our” and “registrant”), provided us with notice of her resignation to accept another opportunity with a non-competing company.
John B. Blystone was appointed to serve on our board of directors (“Board”), effective December 1, 2023, in class III, with a term scheduled to expire at our 2026 annual meeting of shareholders. Also effective December 1, 2023, Mr. Blystone, 70, was appointed to the office of Executive Chairman of the Board.
John B. Blystone, John H. McConnell II, Sidney A. Ribeau, Mary Schiavo, Nancy G. Mistretta, George P. Stoe, Jon J. Bowsher, and Charles M. Chiappone were appointed to the Board to fill the vacancies created by the increase in the size of the Board and the resignation of Mr. Klingler.
John B. Blystone, John H. McConnell II, Sidney A. Ribeau, Mary Schiavo, Nancy G. Mistretta, George P. Stoe, Jon J. Bowsher, and Charles M. Chiappone were appointed to the Board to fill the vacancies created by the increase in the size of the Board and the resignation of Mr. Klingler.
John B. Blystone, John H. McConnell II, Sidney A. Ribeau, Mary Schiavo, Nancy G. Mistretta, George P. Stoe, Jon J. Bowsher, and Charles M. Chiappone were appointed to the Board to fill the vacancies created by the increase in the size of the Board and the resignation of Mr. Klingler.
John B. Blystone, John H. McConnell II, Sidney A. Ribeau, Mary Schiavo, Nancy G. Mistretta, George P. Stoe, Jon J. Bowsher, and Charles M. Chiappone were appointed to the Board to fill the vacancies created by the increase in the size of the Board and the resignation of Mr. Klingler.
John B. Blystone, John H. McConnell II, Sidney A. Ribeau, Mary Schiavo, Nancy G. Mistretta, George P. Stoe, Jon J. Bowsher, and Charles M. Chiappone were appointed to the Board to fill the vacancies created by the increase in the size of the Board and the resignation of Mr. Klingler.
John B. Blystone, John H. McConnell II, Sidney A. Ribeau, Mary Schiavo, Nancy G. Mistretta, George P. Stoe, Jon J. Bowsher, and Charles M. Chiappone were appointed to the Board to fill the vacancies created by the increase in the size of the Board and the resignation of Mr. Klingler.
John B. Blystone, John H. McConnell II, Sidney A. Ribeau, Mary Schiavo, Nancy G. Mistretta, George P. Stoe, Jon J. Bowsher, and Charles M. Chiappone were appointed to the Board to fill the vacancies created by the increase in the size of the Board and the resignation of Mr. Klingler.
Max materiality 0.90 · Median 0.75 · Most common event earnings