Worthington Steel sales rise 12% to $769.8M, but quarterly profit falls
Worthington Steel reported fiscal third-quarter results for the three months ended February 28, 2026, with net sales up 12% to $769.8 million on higher direct volumes and selling prices. Operating income fell to $3.1 million from $18.3 million, and diluted earnings per share were $0.20 versus $0.27, with the filing attributing the rise in selling, general and administrative expense mainly to $15.4 million of professional fees tied to the proposed Kloeckner acquisition. The company also declared a $0.16 quarterly dividend, and the filing does not state a numeric fourth-quarter outlook.
Key points
- Net sales of $769.8 million, up $82.4 million or 12% from $687.4 million; direct selling prices rose 9%
- Operating income of $3.1 million versus $18.3 million; SG&A rose $22.9 million, including $15.4 million of professional fees for the proposed Kloeckner acquisition
- Diluted EPS attributable to controlling interest of $0.20 versus $0.27; adjusted diluted EPS of $0.27 versus $0.35
- Quarterly dividend of $0.16 per share, payable June 26, 2026, to shareholders of record on June 12, 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:55 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 26, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.