Worthington Steel

Q4 FY2026 EarningsFY2026 results missed consensus significantly on GAAP metrics, reporting diluted EPS of $0.17 vs. $2.31 expected, primarily driven by $114.3M in non-cash impairment charges within the Electrical Steel unit. Revenue of $3,443.8M slightly missed the $3,479.0M forecast as a 21% YoY decline in toll processing volumes offset gains from the Sitem Group acquisition. Gross margin was 11.7%, falling 2.70pct short of expectations due to market spread compression. Despite the GAAP miss, operating cash flow of $201.2M exceeded the $163.6M consensus, and management expects inventory holding gains of $10M-$15M in Q1 FY27.