Worthington Steel, Inc. 8K

Worthington Steel reported updated Q4 and FY 2026 results showing higher sales but a GAAP loss driven by large impairments and Klöckner acquisition costs, alongside completion of a majority acquisition of Klöckner and declaration of a $0.16 dividend.

Worthington Steel, Inc. filed a corrected Form 8-K to furnish updated fourth quarter and full-year fiscal 2026 financial results for the period ended May 31, 2026, reporting a 12% year-over-year increase in net sales to $929.2 million but a swing to an operating loss of $74.5 million and a net loss attributable to controlling interest of $57.5 million, primarily due to $112.2 million of non-cash goodwill and long-lived asset impairments in its Electrical Steel reporting unit and significant acquisition-related expenses tied to its January 2026 business combination agreement with Klöckner & Co SE. The company highlighted adjusted EBIT of $54.3 million and adjusted EPS of $0.75, described demand and margin pressures in both direct and toll-processing operations, and detailed balance sheet and cash flow metrics including net debt of $172.2 million and free cash flow of $7.8 million for the quarter. Worthington also disclosed that a majority of Klöckner shares were tendered into its €11.00 per share voluntary public cash takeover offer in the fourth quarter, enabling completion of the acquisition of approximately 62% of Klöckner’s outstanding shares on June 3, 2026, subsequent to year-end, and noted recognition as a John Deere Partner-level Supplier, local Top Workplace awards, and the declaration of a $0.16 per share quarterly dividend payable on September 29, 2026.

Filing Facts

CIK

1968487

Ticker

-

Form

8K

Source Type

sec

Accession

0001968487-26-000020

Alert Tier

7