Record Safety Achievement
Worthington Steel achieved its safest quarter on record, emphasizing the company's commitment to employee safety.
Strong Financial Performance
Adjusted EBITDA was $75.2 million, with earnings per share at $0.72 and net sales of $872.9 million. The company also reported a significant year-over-year increase in earnings from $0.56 to $0.72 per share.
Automotive Market Growth
The company saw a 13% increase in shipments to the Detroit 3, against a 5% production increase, highlighting strong market share gains in the automotive sector.
Expansion and Transformation
Worthington Steel completed the acquisition of 52% of Sitem and is expanding operations in Canada and Mexico to support electrical steel production, with a focus on AI-driven efficiency improvements.