Worthington Steel swings to $48.7M Q4 loss on $94.5M Electrical Steel impairments

Filed June 25, 2026 · Period ending June 23, 2026 · ~1 min read

Key Changes

• high

  Recorded $94.5M in impairments ($53.8M goodwill, $40.7M long-lived assets) in Electrical Steel unit due to weakened demand in industrial motors from foreign competition and delayed automotive programs.

  Exhibit 99.1 verify on EDGAR →
• high

  Completed acquisition of ~62% of Klöckner & Co SE on June 3, 2026 at €11.00/share, creating second-largest North American service center; targeting $150M EBITDA synergies and $150M working capital reduction by FY2028.

  Exhibit 99.2 verify on EDGAR →
• high

  Q4 FY2026 net sales rose 12% to $929.2M, but operating loss of $57.6M (vs. $66.4M income prior year) driven by impairments and $27.8M in Klöckner acquisition costs; adjusted EPS $0.74 vs. $1.05 prior year.

  Exhibit 99.1 verify on EDGAR →