Corrected: Worthington Steel Q1 revenue jumps 212% on Kloeckner acquisition

Worthington Steel

06/10/2026 21:16

Corrects to remove estimates from KD table

Overview
US metals processor's fiscal Q1 revenue rose 212% yr/yr, driven by Kloeckner acquisition
Adjusted EPS for fiscal Q1 fell to $0.57 from $0.77 a year earlier
Company completed majority acquisition of Kloeckner, expanding operations and geographic footprint

Outlook
Company expects sale of Kloeckner Disposal Group to be completed within one year of acquisition

Result Drivers
KLOECKNER ACQUISITION - Kloeckner contributed $1.77 bln to Q1 net sales, driving overall revenue growth
HIGHER DIRECT VOLUMES AND PRICING - Excluding Kloeckner, Q1 net sales rose 9% yr/yr, mainly due to increased direct volumes and higher direct selling prices
INCREASED SG&A EXPENSES - Higher professional fees related to the Kloeckner acquisition contributed to a $17.6 mln rise in SG&A, reducing operating income for legacy business

Company press release: ID:nBw3n99zza

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
 
$2.73 bln
 
Q1 Adjusted EPS
 
$0.57
 
Q1 Loss Per Share
 
$0.14
 
Q1 Net Loss From Cont Ops
 
$7 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the iron & steel peer group is "hold"
Wall Street's median 12-month price target for Worthington Steel Inc is $46.00, about 17.6% above its October 5 closing price of $39.12

Reuters Recommended Reads
Oct 5 - Singapore's Fortress Minerals Q2 revenue jumps on higher iron ore volumes

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)