Quarterly ResultOct 7, 2026, 06:36 AM
Worthington Steel Q1 Net Sales $2.73B; Reports Net Loss of $7.0M
AI Summary
Worthington Steel reported its first quarter fiscal 2027 results, significantly impacted by the acquisition of a majority interest in Kloeckner & Co. Net sales surged by 212% to $2,726.6 million, largely due to Kloeckner's contribution. However, the company reported a net loss of $7.0 million, or $0.14 per diluted share, compared to a net profit in the prior year. Adjusted diluted EPS was $0.57, down from $0.77. The company also declared a quarterly dividend of $0.16 per share and is proceeding with the integration of Kloeckner, including a DPLTA agreement.
Key Highlights
- Worthington Steel reports Q1 FY2027 net sales of $2,726.6M, a 212% increase YoY, driven by Kloeckner acquisition.
- Net loss attributable to controlling interest was $7.0M, compared to net earnings of $36.8M in Q1 FY2026.
- Diluted loss per share from continuing operations was $0.14, versus diluted EPS of $0.73 in the prior year.
- Adjusted Diluted EPS from continuing operations was $0.57, down from $0.77 in Q1 FY2026.
- Company declared a quarterly cash dividend of $0.16 per common share, payable December 28, 2026.
- Kloeckner Acquisition contributed $1,772.7M to net sales and $144.0M to gross margin in Q1 FY2027.
- Company entered into a Domination and Profit and Loss Transfer Agreement (DPLTA) with Kloeckner on September 8, 2026.
Price Impact
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