Worthington Steel, Inc. (WS) Form 10-Q — Oct 13, 2026
Worthington Steel's fiscal Q1 2027 (ended August 31, 2026) was its first quarter consolidating Kloeckner, which it acquired June 3, 2026 at €11.00 per share, lifting ownership to approximately 62.11%. Net sales more than tripled to $2,726.6 million from $872.9 million, with Kloeckner contributing $1,772.7 million, and total volume up 109%, though direct tons excluding Kloeckner rose just 3%.
Key figures
- Total Debt
- short-term borrowings $530.9M + long-term debt $1,654.8M + current maturities $10.7M
- Revenue Yoy
- up ~212% vs $872.9M prior-year quarter (Kloeckner contributed $1,772.7M)
- Cash Position
- 248.2
- Operating income
- 56
- Hrc price per ton
- 1152
- Senior notes 2033
- $700.0M at 7.75%
- Acquisition costs q1
- 22.6
- Interest expense net
- 38.8
- Term loan outstanding
- $500.0M after $200.0M voluntary repayment
- Diluted eps prior year
- 0.73
- Pro forma eps q1 fy2027
- 0.46
- Becker sale proceeds approx
- €75 million (~$84 million) including ~€27M deferred
- Dplta exit compensation max
- approximately €415.8 million (~$483.0 million)
- Kloeckner ownership percent
- 62.11%
- Net sales prior year quarter
- 872.9
- Direct tons sold ex kloeckner
- +3%
- Pro forma net sales q1 fy2026
- 2516.8
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