Board Change • May 20
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. 1 experienced director. No highly experienced directors. CEO, President & Director Geoff Gilmore is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Mar 25
Worthington Steel, Inc. Declares Quarterly Dividend, Payable on June 26, 2026 The board of directors of Worthington Steel, Inc. has declared a quarterly dividend of $0.16 per common share. The dividend is payable on June 26, 2026, to shareholders of record at the close of business on June 12, 2026. Announcement • Mar 02
Worthington Steel, Inc. to Report Q3, 2026 Results on Mar 25, 2026 Worthington Steel, Inc. announced that they will report Q3, 2026 results After-Market on Mar 25, 2026 Announcement • Jan 16
Worthington Steel, Inc. (NYSE:WS) entered into a Business Combination Agreement to acquire Klöckner & Co SE (XTRA:KCO) from SWOCTEM GmbH and others for approximately €1.1 billion. Worthington Steel, Inc. (NYSE:WS) entered into a Business Combination Agreement to acquire Klöckner & Co SE (XTRA:KCO) from SWOCTEM GmbH and others for approximately €1.1 billion on January 15, 2026. Worthington Steel intends to launch a voluntary public offer to acquire all outstanding shares of Kloeckner & Co. Kloeckner shareholders who choose to participate in the offer will receive €11 in cash for each Kloeckner & Co share tendered into the offer. The offer price implies an enterprise value of €2.05874 billion. Worthington Steel expects to finance the transaction via a combination of cash on hand and new debt financing. The Offer will be fully financed via underwritten commitments and is not subject to any financing conditions. SWOCTEM GmbH owning approximately 42% of shares, has entered into an Irrevocable Agreement with Worthington Steel whereby they have committed to tender their shares in support of Worthington Steel’s offer. Wells Fargo and Citigroup have provided fully underwritten financing commitments for the acquisition financing.
The Management Board and executive leadership are expected to remain in place following completion of the transaction. Kloeckner’s Management and Supervisory board welcome the Offer and, subject to their review of the Offer Document, intend to recommend acceptance by Kloeckner's shareholders. Completion of the offer will be subject to a minimum acceptance threshold of 65% of Kloeckner’s issued share capital at the end of the acceptance period and regulatory approvals. Completion of the offer is expected to occur in the second half of calendar year 2026. Expected to be substantially accretive to Worthington Steel’s EPS within the first full year of operation.
Andina Partners International LLP and Bank of America are acting as financial advisors to Worthington Steel. Latham & Watkins LLP is serving as legal counsel to Worthington Steel. Goldman Sachs Bank Europe SE is acting as financial advisor to Klöckner & Co, and Hengeler Mueller is acting as its legal advisor. Announcement • Dec 01
Worthington Steel, Inc. to Report Q2, 2026 Results on Dec 17, 2025 Worthington Steel, Inc. announced that they will report Q2, 2026 results After-Market on Dec 17, 2025 Announcement • Sep 25
Worthington Steel, Inc. Declares Quarterly Dividend, Payable on December 26, 2025 The board of directors of Worthington Steel, Inc. has declared a quarterly dividend of $0.16 per common share. The dividend is payable on December 26, 2025, to shareholders of record at the close of business on December 12, 2025. Announcement • Sep 12
Worthington Steel, Inc. to Report Q1, 2026 Results on Sep 24, 2025 Worthington Steel, Inc. announced that they will report Q1, 2026 results After-Market on Sep 24, 2025 Announcement • Aug 18
Worthington Steel, Inc., Annual General Meeting, Sep 24, 2025 Worthington Steel, Inc., Annual General Meeting, Sep 24, 2025. Announcement • Jun 11
Worthington Steel, Inc. to Report Q4, 2025 Results on Jun 25, 2025 Worthington Steel, Inc. announced that they will report Q4, 2025 results After-Market on Jun 25, 2025 Announcement • Mar 20
Worthington Steel, Inc. Declares Quarterly Dividend, Payable on June 27, 2025 The board of directors of Worthington Steel, Inc. declared a quarterly dividend of $0.16 per common share. The dividend is payable on June 27, 2025, to shareholders of record at the close of business June 13, 2025. Board Change • Dec 30
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. No experienced directors. No highly experienced directors. CEO, President & Director Geoff Gilmore is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Dec 02
Worthington Steel, Inc. to Report Q2, 2025 Results on Dec 18, 2024 Worthington Steel, Inc. announced that they will report Q2, 2025 results After-Market on Dec 18, 2024 Announcement • Nov 08
Worthington Steel, Inc. Appoints Cliff Larivey as President of Flat-Roll Steel Processing, Effective December 1, 2024 Worthington Steel, Inc. announced Larivey, 51, has served as the Company’s senior vice president of commercial and purchasing since Worthington Steel’s separation from the former Worthington Industries in December 2023. Prior to that, he was vice president of purchasing for Worthington Industries for 11 years. Larivey joined Worthington Industries as director of steel purchasing when the Company acquired Gibraltar Strip Steel in February 2010. At Gibraltar, Larivey held several roles of increasing responsibility including production scheduler, materials application and inside sales manager. He was named vice president of marketing at Gibraltar in 2008 and added purchasing to his title in 2009. Larivey earned his bachelor’s degree in business from the University of New York at Buffalo. Under Larivey’s leadership, Marc Gase, vice president of price risk and supply chain, Doug Kovach, vice president of sales and marketing and Jason Miller, vice president of purchasing, will continue to oversee the commercial organization, and Brad Kern, vice president of operations, will continue to head up operations. With their combined tenure, they bring more than 100 years of expertise to the Company. Reported Earnings • Sep 26
First quarter 2025 earnings released First quarter 2025 results: EPS: US$0.57. Revenue: US$834.0m (down 7.9% from 1Q 2024). Net income: US$28.4m (down 51% from 1Q 2024). Profit margin: 3.4% (down from 6.5% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Metals and Mining industry in Europe. New Risk • Sep 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (6.9% average weekly change). Upcoming Dividend • Sep 06
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 27 September 2024. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.4%). Announcement • Sep 04
Worthington Steel, Inc. to Report Q1, 2025 Results on Sep 25, 2024 Worthington Steel, Inc. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on Sep 25, 2024 New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (6.7% average weekly change). Announcement • Aug 05
Worthington Steel, Inc., Annual General Meeting, Sep 25, 2024 Worthington Steel, Inc., Annual General Meeting, Sep 25, 2024. Reported Earnings • Aug 05
Full year 2024 earnings released: EPS: US$3.14 (vs US$1.77 in FY 2023) Full year 2024 results: EPS: US$3.14 (up from US$1.77 in FY 2023). Revenue: US$3.43b (down 4.9% from FY 2023). Net income: US$154.7m (up 78% from FY 2023). Profit margin: 4.5% (up from 2.4% in FY 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to grow by 2.0%. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €33.45, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Metals and Mining industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €50.60 per share. Reported Earnings • Jun 28
Full year 2024 earnings released Full year 2024 results: EPS: US$3.14. Revenue: US$3.43b (down 4.9% from FY 2023). Net income: US$154.7m (up 78% from FY 2023). Profit margin: 4.5% (up from 2.4% in FY 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to grow by 2.2%. Announcement • Jun 26
Worthington Steel, Inc. Declares Quarterly Dividend, Payable on September 27, 2024 Worthington Steel, Inc. has declared a quarterly dividend of $0.16 per common share. The dividend is payable on September 27, 2024, to shareholders of record September 13, 2024. Upcoming Dividend • Jun 07
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 4.7% and the cash payout ratio is 85%. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (3.8%). Announcement • Jun 05
Worthington Steel, Inc. to Report Q4, 2024 Results on Jun 26, 2024 Worthington Steel, Inc. announced that they will report Q4, 2024 results After-Market on Jun 26, 2024 Recent Insider Transactions • May 01
Director recently sold €347k worth of stock On the 26th of April, Charles Nelson sold around 12k shares on-market at roughly €28.93 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €300k more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €32.20, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Buy Or Sell Opportunity • Mar 26
Now 28% undervalued Over the last 90 days, the stock has risen 12% to €31.80. The fair value is estimated to be €44.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to decline by 4.1% per annum. Earnings are also forecast to decline by 1.3% per annum over the same time period. Announcement • Mar 22
Worthington Steel, Inc. Declares Quarterly Dividend, Payable on June 28, 2024 The board of directors of Worthington Steel, Inc. has declared a quarterly dividend of $0.16 per common share. The dividend is payable on June 28, 2024, to shareholders of record June 14, 2024. Announcement • Mar 05
Worthington Steel, Inc. to Report Q3, 2024 Results on Mar 21, 2024 Worthington Steel, Inc. announced that they will report Q3, 2024 results After-Market on Mar 21, 2024 Announcement • Jan 27
Worthington Steel, Inc. Announces Executive Changes On January 22, 2024, Michaune D. Tillman, Vice President – General Counsel and Secretary of Worthington Steel, Inc. (registrant), provided it with notice of her resignation to accept another opportunity with a non-competing company. Ms. Tillman will remain with it to facilitate an orderly transition of her responsibilities to Joseph Y. Heuer, who was named interim General Counsel effective January 24, 2024. Mr. Heuer was previously its Assistant General Counsel and he has nearly 20 years of experience in various roles of increasing responsibility within the legal departments of Worthington Industries, Inc., PubMatic, Inc., InMarket Media, LLC, and Big Lots, Inc. New Risk • Jan 15
New major risk - Revenue and earnings growth Revenue has declined by 12% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue has declined by 12% over the past year. Minor Risk Short dividend paying track record (less than a year of continuous dividend payments). Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €22.35, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Metals and Mining industry in Europe. Reported Earnings • Dec 23
Second quarter 2024 earnings released Second quarter 2024 results: US$0.12 loss per share. Net loss: US$6.00m (flat on 2Q 2023). Revenue is forecast to decline by 4.7% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Announcement • Dec 21
Worthington Steel, Inc. Declares First Quarterly Dividend, Payable on March 28, 2024 The board of directors of Worthington Steel, Inc. has declared a quarterly dividend of $0.16 per common share. The dividend is payable on March 28, 2024, to shareholders of record March 14, 2024. This marks the first dividend paid by Worthington Steel since the business separated from the former Worthington Industries, now Worthington Enterprises, on December 1, 2023. 
