News & Events

COLUMBUS, Ohio, June 26, 2024 – Worthington Steel, Inc. (NYSE: WS), a market-leading, value-added steel processing company, today reported financial results for the fiscal 2024 fourth quarter and full fiscal year ended May 31, 2024. 

Fourth Quarter Highlights (all comparisons to the fourth quarter of fiscal 2023):

• Net sales of $911.0 million increased 3% compared to $884.0 million.
• Operating income of $67.3 million compared to $89.8 million.
• Net earnings attributable to controlling interest of $53.2 million compared to $67.3 million.
• Net earnings per diluted share attributable to controlling interest of $1.06 compared to $1.37; Adjusted net earnings per diluted share attributable to controlling interest of $1.06 compared to $1.47.
• Adjusted EBIT of $70.4 million compared to $98.4 million.
• Earned 2023 Supplier of the Year by General Motors for the third time in four years.
• Recognized as a John Deere Partner-level Supplier for the 12th consecutive year.
• Declared a quarterly dividend of $0.16 per share payable on September 27, 2024, to shareholders of record on September 13, 2024.

“Worthington Steel saw a solid performance in Q4 and finished fiscal 2024 strong,” said Geoff Gilmore, president and CEO of Worthington Steel. “Employees continue to be the driving force behind Worthington Steel’s momentum; I’d like to thank them for continuing to find improvements for our customers and our business through the transformation process. As we enter fiscal 2025, we remain focused on executing our strategy and driving shareholder value through organic growth and strategic M&A. Worthington Steel’s strategy and differentiation help ensure we are well positioned to grow and deliver strong returns for our shareholders.”