Worthington Steel Reports Growth in Q1 2026

By Bobby Samwell • Tuesday, September 30 06:10 • Permanent Link

Worthington Steel, Inc. (NYSE: WS) has reported its financial results for the fiscal 2026 first quarter ended August 31, 2025. The company has shown growth in various key metrics compared to the first quarter of fiscal 2025.

In terms of net sales, the company witnessed a 5% increase, reaching $872.9 million compared to $834.0 million in the same period last year. Operating income also saw an increase, rising to $48.3 million from $43.4 million in the first quarter of fiscal 2025.

Net earnings attributable to Worthington Steel showed significant growth, reaching $36.8 million compared to $28.4 million in the first quarter of fiscal 2025. Adjusted EBIT also demonstrated a notable increase, reaching $54.9 million compared to $39.4 million in the prior year period.

The company declared a quarterly dividend of $0.16 per share payable on December 26, 2025, to shareholders of record at the close of business on December 12, 2025.

Worthington Steel's volume in tons decreased to 928,866 from 994,093 in the first quarter of fiscal 2025. However, the company's net sales showed a positive trend, increasing by $38.9 million, or 5%, compared to the prior year quarter. This increase was primarily driven by higher direct volumes and slightly higher average direct selling prices.

Gross margin also exhibited growth, increasing by $14.8 million over the prior year quarter to $115.2 million. Operating income increased by $4.9 million, reaching $48.3 million from $43.4 million in the first quarter of fiscal 2025.

The company's cash and cash equivalents as of August 31, 2025, stood at $78.3 million, and it had a net debt position of $155.1 million.

Worthington Steel's board of directors declared a quarterly dividend of $0.16 per common share, payable on December 26, 2025, to shareholders of record at the close of business on December 12, 2025.

These results reflect the company's strong performance and indicate its ability to adapt in a dynamic market, as noted by Geoff Gilmore, President and CEO of Worthington Steel. Today the company's shares have moved 0.66% to a price of $30.40. For more information, read the company's full 8-K submission here.

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