Worthington Steel, Inc. ( (WS) ) has released its Q3 earnings. Here is a breakdown of the information Worthington Steel, Inc. presented to its investors.
Worthington Steel, Inc., headquartered in Columbus, Ohio, is a leading metals processing company specializing in carbon flat-roll steel processing, electrical steel laminations, and tailor-welded solutions, with operations across North America and internationally.
In its fiscal 2025 third quarter, Worthington Steel reported a decline in net sales to $687.4 million, a 15% decrease from the previous year, reflecting challenges in volume and pricing. Despite these headwinds, the company maintained its commitment to strategic growth and operational resilience.
The company’s financial performance showed a significant decrease in operating income to $18.3 million from $66.3 million the previous year, and net earnings attributable to controlling interest fell to $13.8 million. The decline was attributed to lower direct spreads and volume, alongside asset impairments and increased SG&A expenses. However, Worthington Steel continued to progress on its acquisition of a controlling stake in Sitem Group, and it was recognized as Mahle’s Best Supplier of the Year.
Despite the challenging quarter, Worthington Steel demonstrated strong cash flow management with net cash provided by operating activities reaching $53.8 million, and it declared a quarterly dividend of $0.16 per share. The company remains focused on strategic expansions in its electrical steel operations in Mexico and Canada.
Looking ahead, Worthington Steel is optimistic about improving demand fundamentals and remains committed to its strategic initiatives, including the completion of the Sitem Group acquisition, which is expected to close in early fiscal year 2026.