Free tools Windows power users keep installed
One-click scans. No signup required.
iTechGuides is reader-supported. When you buy through links on our site, we may earn an affiliate commission. As an Amazon Associate I earn from qualifying purchases. Learn more
Worthington Steel reported $2.73 billion in net sales and $56.0 million in operating income for fiscal Q1 2027, but recorded a $7.0 million continuing-operations loss attributable to controlling interest. The quarter ended August 31, 2026, and was the company’s first to include results from its majority-interest acquisition of Klöckner & Co. The acquisition explains most of the sales jump: excluding Klöckner, sales rose 9% year over year.
What were Worthington Steel’s Q1 FY2027 earnings?
Worthington Steel announced results on October 6, 2026. The figures below compare fiscal Q1 2027 with fiscal Q1 2026 on a continuing-operations basis unless noted. Adjusted figures are non-GAAP measures, not substitutes for the GAAP results.
| Measure | Q1 FY2027 | Q1 FY2026 |
|---|---|---|
| Net sales | $2,726.6 million | $872.9 million |
| Operating income | $56.0 million | $48.3 million |
| Net earnings (loss) from continuing operations attributable to controlling interest | $(7.0) million | $36.8 million |
| Diluted EPS from continuing operations attributable to controlling interest | $(0.14) | $0.73 |
| Adjusted EBIT (non-GAAP) | $78.5 million | $55.5 million |
| Adjusted diluted EPS from continuing operations (non-GAAP) | $0.57 | $0.77 |
| Adjusted EBITDA (non-GAAP, including consolidated operations and noncontrolling interests) | $111.0 million | $78.8 million |
Worthington Steel’s Q1 results release reports adjusted net earnings from continuing operations attributable to controlling interest of $29.1 million, down from $38.8 million a year earlier. That adjusted result and the $7.0 million GAAP loss are different measures.
PC Slower Than It Used to Be?
A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Crashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteWhy did sales rise 212%?
The year-over-year comparison includes Klöckner & Co, whose results were consolidated from the June 3, 2026 acquisition close. Klöckner contributed $1,772.7 million of Q1 sales. The reported 212% increase therefore is not a measure of organic growth.
#1 Best Overall
- Premium Material: Selected cold-rolled carbon steel with excellent bending strength and tensile performance, easily handling regular loads and precision machining requirements
- Flat and Smooth:the surface of the metal plate is flat and smooth, and the edges are finely cut without burrs, which avoids scratches and effectively reduces the wear and tear of the equipment
- Flexible Processing: Easily supports welding, cutting, drilling, bending, painting, and other processes. Steel sheet is ideal for DIY projects, equipment support, and industrial structures, meeting a wide variety of needs
- Package Contents: contains 4 pcs of 20 gauge steel plates, size 12 x 6 inch. Steel plates are covered with a protective oil coating that prevents rusting and is easy to clean and maintain
- Versatile Application: Ideal for metalworking, equipment maintenance, DIY projects, and industrial components. steel plate is perfect for automotive repair, construction, home decor, and more
Excluding Klöckner, Worthington Steel sales rose $81.0 million, or 9%, year over year. The company attributed the increase primarily to higher direct volumes and, to a lesser extent, higher average direct selling prices.
| Ex-Klöckner volume or price measure | Year-over-year change |
|---|---|
| Direct tons sold | Up 3% |
| Direct selling prices | Up 6% |
| Toll processing volumes | Down 8% |
| Toll selling prices | Up 6% |
Worthington Steel’s sales and volume discussion provides the separate comparison excluding Klöckner. Certain Klöckner business units met held-for-sale criteria when acquired and are reported as discontinued operations in fiscal 2027 and thereafter; the company’s operating-results discussion generally concerns continuing operations.
Rank #2
- Premium Material: Selected cold-rolled carbon steel with excellent bending strength and tensile performance, easily handling regular loads and precision machining requirements
- Flat and Smooth:the surface of the weldable steel plate is flat and smooth, and the edges are finely cut without burrs, which avoids scratches and effectively reduces the wear and tear of the equipment
- Flexible Processing: Easily supports welding, cutting, drilling, bending, painting, and other processes. Steel plate is ideal for DIY projects, equipment support, and industrial structures, meeting a wide variety of needs
- Package Contents: contains 2 pcs of 20 gauge steel plates size 12 x 6 inch. Steel plates are covered with a protective oil coating that prevents rusting and is easy to clean and maintain
- Versatile Application: Ideal for metalworking, equipment maintenance, DIY projects, and industrial components. steel plate is perfect for automotive repair, construction, home decor, and more
Why did Worthington Steel report a loss despite higher sales?
Higher sales and operating income did not translate into higher earnings attributable to controlling interest. Several factors sit between those measures:
- Acquisition-related contribution and costs: Klöckner increased reported operating income by $24.2 million, while Worthington Steel’s operating income excluding Klöckner fell $16.5 million year over year. Selling, general and administrative expense rose $17.6 million excluding Klöckner, including an $18.6 million increase in professional fees primarily related to the acquisition.
- Interest expense: Consolidated net interest expense was $38.8 million, compared with $2.9 million in the prior-year quarter.
- Miscellaneous expense: The income statement included $10.5 million of miscellaneous expense, versus $0.2 million of miscellaneous income a year earlier.
Gross margin increased $146.0 million to $261.2 million, with Klöckner contributing $144.0 million. That contribution included an approximately $43 million net inventory fair-value step-up recognized in connection with the acquisition. Excluding Klöckner, gross margin increased $2.0 million: higher direct spreads were partly offset by higher manufacturing expense and lower toll spreads. These factors help explain how operating income could rise while the bottom-line GAAP result weakened.
Rank #3
- Premium 20 Gauge Mild Steel Sheet Metal – Crafted from high-quality cold rolled steel, these sheets offer exceptional durability and a smooth, uniform surface. Ideal for precision-driven projects requiring reliable material performance without compromising on structural integrit
- Versatile 6"x12" Size for Diverse Applications – Each steel sheet plate measures 6" x 12"x 0.039"/1mm, providing ample workspace for cutting, shaping, and welding. Perfect for custom fabrications, prototypes, repairs, and creative DIY endeavors
- Excellent Weldability and Formability – Designed for seamless welding, bending, and shaping, these sheets ensure clean results with minimal splatter or distortion. Compatible with most welding techniques and tools for professional or hobbyist use
- Optimized for Industrial and DIY Use – Whether you’re crafting automotive parts, building tool storage, or creating artistic metalwork, these sheets deliver consistent performance for both industrial-grade projects and home workshops
- Value 5-Pack for Projects – Comes in a set of 5 steel sheet plates, ensuring you always have enough material on hand. Cost-effective and practical for frequent use, whether in workshops, garages, or industrial settings
What do adjusted earnings show?
Adjusted EBIT rose to $78.5 million from $55.5 million, while adjusted diluted EPS from continuing operations declined to $0.57 from $0.77. Read together, those non-GAAP measures show that the increase in adjusted operating earnings did not produce higher adjusted per-share earnings. They should be considered alongside the GAAP continuing-operations loss, not treated as replacements for it.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What were cash flow and debt?
At August 31, 2026, the company reported $248.2 million in cash and cash equivalents and $2,196.4 million in total debt, or net debt of $1,948.2 million. It used $6.0 million of cash in operating activities during the quarter and invested $63.0 million in property, plant and equipment. Free cash flow, using the company’s definition, was negative $69.0 million. The company’s cash-flow and debt disclosures provide these reported balances and measures.
Rank #4
- 4 Pack A36 Cold Rolled Steel Sheet Good durability and weldability requirements, ideal for structural projects requiring corrosion resistance.
- Pre-cut size is 12"x16"(1.2mm thick) with smooth laser cut edges.
- The precision cold rolled surface ensures a smooth finish and a uniform microstructure suitable for further plating or painti.
- Versatile for welding bases, machinery frames, automotive repairs, and DIY crafts. Compatible with CNC cutting, bending, and powder coating processes.
- Burr-Free Edges and Safe Packaging: Deburred edges prevent injuries, and the oiled surface resists corrosion during storage/transportation, packaged in a cardboard box with rust-resistant paper and bubble wrap.
What dividend did the board declare?
The board declared a quarterly dividend of $0.16 per common share, payable December 28, 2026, to shareholders of record at the close of business on December 14, 2026. See the dividend announcement for the declared dates and amount.
What changed with Klöckner after the quarter?
Worthington Steel said it held approximately 62.11% of Klöckner after settlement of its public delisting tender offer. On September 8, after the quarter ended, the companies entered into a Domination and Profit and Loss Transfer Agreement. At the time of the earnings release, it remained subject to required shareholder approvals and registration and could not become effective before January 1, 2027; it was not yet effective.
The release also scheduled the Q1 earnings call for October 7, 2026, at 8:30 a.m. Eastern Time. That is the announced schedule, not a report of what management said on the call.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
