| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 769.80 | 11.7% | 12.0% |
| Total Income | 769.80 | 11.7% | 12.0% |
| Expenditure | 766.70 | 9.8% | 14.6% |
| PBT | 14.30 | 44.4% | 16.4% |
| Net Profit | 10.40 | 44.7% | 24.6% |
| OPM | 0.40% | 2.09pp | 2.26pp |
| NPM | 1.35% | 0.81pp | 0.66pp |
| EPS | 0.21 | 44.7% | 25.0% |
Worthington Steel Reports Third Quarter Fiscal 2026 Results
04 May 2026 · 4 May, 12:21 am
Summary
Worthington Steel reported financial results for the third quarter of fiscal 2026, with net sales increasing by 12% to $769.8 million compared to the prior year. Operating income decreased to $3.1 million from $18.3 million. Net earnings attributable to controlling interest were $10.4 million, down from $13.8 million in the prior year quarter. The company also announced a proposed acquisition of Kloeckner & Co SE, expected to be transformational for Worthington Steel.
Key Highlights
- 1
Net sales of $769.8 million increased 12% compared to $687.4 million in the third quarter of fiscal 2025.
- 2
Operating income was $3.1 million, compared to $18.3 million in the prior year quarter.
- 3
Net earnings attributable to controlling interest totaled $10.4 million, compared to $13.8 million in the third quarter of fiscal 2025.
- 4
Adjusted EBIT was $20.0 million, compared to $25.3 million in the prior year quarter.
- 5
Net earnings per diluted share attributable to controlling interest was $0.20, compared to $0.27 in the prior year; adjusted net earnings per diluted share was $0.27, compared to $0.35.
- 6
The company declared a quarterly dividend of $0.16 per share payable on June 26, 2026.
- 7
Worthington Steel entered into a Business Combination Agreement with Kloeckner & Co SE, with completion expected in the second half of calendar year 2026.
Management Comments
Geoff Gilmore
"This was a challenging quarter from a macroeconomic standpoint, but our focus did not change," said Geoff Gilmore, President and CEO of Worthington Steel. "We remained grounded in our safety-first culture, executed with discipline and continued to serve customers well. We also took an important step forward with our proposed acquisition of Kloeckner, which we believe will be transformational for Worthington Steel and support long-term value creation."
Informational and educational content only. Not investment advice.