Worthington Steel Reports Corrected Q4 Net Loss of $57.5M

Worthington Steel, Inc. issued a corrected financial release for the fourth quarter of fiscal 2026, reporting a net loss attributable to controlling interest of $57.5 million, compared to net earnings of $55.7 million in the prior year. The correction was due to additional long-lived asset impairment charges of $112.2 million and Bridge nonrevolving loan commitment costs, which led to an operating loss of $74.5 million. Despite the losses, net sales increased by 12% to $929.2 million, and the company completed its acquisition of a majority interest in Klöckner & Co SE.