The company’s net sales increased by 12 percent to USD 929.2 million, compared to USD 832.9 million in the same period of the previous year. Due to non-cash impairment charges in the Electrical Steel reporting unit and acquisition-related expenses, the company recorded an operating loss of USD 57.6 million in the quarter, compared to operating income of USD 66.4 million in the same quarter of the previous year. Net income attributable to controlling interests, which amounted to USD 55.7 million in the fourth quarter of the previous year, resulted in a net loss of USD 48.7 million in the same quarter this year.
On a per-share basis, net loss attributable to controlling interests was USD 0.98 per share, compared to net income of USD 1.10 per share in the same period of the previous year. Adjusted net earnings per share declined to USD 0.74 from USD 1.05 in the previous year. The company’s adjusted operating income was reported at USD 54.0 million, compared to USD 70.1 million recorded in the same quarter of the prior year. Meanwhile, the company announced a quarterly dividend of USD 0.16 per share, payable on September 29, 2026, to shareholders of record as of September 15, 2026.
As part of its strategic investments, the minimum acceptance threshold was exceeded in the voluntary public cash takeover offer launched pursuant to the business combination agreement signed with Klöckner & Co SE in January 2026. Following the completion of the transaction on June 3, 2026, after the end of the fiscal year, Worthington Steel secured approximately 62 percent of Klöckner’s outstanding shares, acquiring a majority stake and reaching a significant milestone toward obtaining full operational control.
On the corporate achievements side, the company was recognized as a John Deere Partner-level Supplier for the 14th consecutive year. It also received John Deere’s inaugural Community Engagement Award and was named one of Columbus’ Top Workplaces by Columbus CEO magazine for the 14th consecutive year.
Commenting on the results, Worthington Steel President and CEO Geoff Gilmore stated that the company closed fiscal 2026 with continued progress on its long-term strategy. He noted that fourth-quarter results reflected solid performance in a mixed market environment characterized by narrower value-added margins year on year, while showing signs of normalization. Gilmore emphasized that higher net sales were supported by growth in the direct sales business and a continued focus on value-added solutions.
Gilmore added that the Klöckner transaction, completed shortly after the fiscal year-end, represents the largest acquisition in the company’s history and a defining step toward building a stronger and more diversified metals processing platform. He stated that the company will continue to focus on safety, customer service, operational discipline, integration readiness, and shareholder returns in the coming period.
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