WS on NYSE
Worthington Steel, Inc.
American steel works, incorporated in Ohio, listed on NYSE (WS). Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with Worthington Industries, Gibraltar Industries or INSTEEL INDUSTRIES INC, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
United States brought in 74% of the revenue Worthington Steel, Inc. broke down this way in fiscal 2026.
Regions by year
| Regions | 2024 | 2025 | 2026 |
|---|---|---|---|
| United States | $2.8B | $2.4B | $2.6B |
| Canada | $392.6M | $330.8M | $392.1M |
| Rest Of World | $104.7M | $118.5M | $282.9M |
| Mexico | $181.3M | $207.7M | $208.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue88¢$3.0B
- Selling, general and admin9¢$297.4M
- Other costs2¢$77.4M
- Income tax1¢$20.0M
- Profit0¢$8.5M
Out of $3.4B in revenue.2
Where each dollar of operating cash went, fiscal 2026
- Capital spending60¢$121.2M
- Dividends paid16¢$32.6M
- Kept or used elsewhere24¢$47.4M
Out of $201.2M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2026-05-31 | 2025-05-31 | 2024-05-31 |
|---|---|---|---|
| Net sales | $3.4B | $3.1B | $3.4B |
| Cost of goods sold | $3.0B | $2.7B | $3.0B |
| Gross margin | $403.3M | $388.6M | $439.8M |
| Selling, general and administrative expense | $297.4M | $231.6M | $224.4M |
| Impairment of goodwill | $53.8M | $0 | $0 |
| Impairment of long-lived assets and other assets | $60.5M | $7.4M | $1.4M |
| Restructuring and other (income) expense, net | -$7.0M | $2.6M | $0 |
| Separation costs | $0 | $0 | $19.5M |
| Operating income (loss) | -$1.4M | $147.0M | $194.5M |
| Miscellaneous income, net | $16.6M | $3.8M | $5.3M |
| Interest expense, net | -$28.4M | -$7.1M | -$6.0M |
| Equity in net income of unconsolidated affiliate | $20.3M | $4.4M | $22.4M |
| Earnings before income taxes | $7.1M | $148.1M | $216.2M |
| Income tax expense | $20.0M | $28.8M | $46.1M |
| Net earnings (loss) | -$12.9M | $119.3M | $170.1M |
| Net earnings (loss) attributable to noncontrolling interests | -$21.4M | $8.6M | $15.4M |
| Net earnings attributable to controlling interest | $8.5M | $110.7M | $154.7M |
| Weighted average common shares outstanding | 49.8M shares | 49.5M shares | 49.3M shares |
| Earnings per share attributable to controlling interest | $0.17 | $2.24 | $3.14 |
| Weighted average common shares outstanding | 50.8M shares | 50.5M shares | 49.8M shares |
| Earnings per share attributable to controlling interest | $0.17 | $2.19 | $3.11 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.2
| Period ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2023-02-28 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $84.6M | $38.0M | $40.2M | $32.7M | |
| Restricted cash | $0 | $54.9M | |||
| Receivables, less allowances of $1.1 and $3.8, respectively | $496.2M | $438.7M | |||
| Raw materials | $168.5M | $179.4M | |||
| Work in process | $145.9M | $165.6M | |||
| Finished products | $101.3M | $77.0M | |||
| Total inventories | $415.7M | $422.0M | |||
| Income taxes receivable | $14.3M | $100.0K | |||
| Assets held for sale | $9.1M | $11.5M | |||
| Prepaid expenses and other current assets | $110.0M | $83.3M | |||
| Total current assets | $1.1B | $1.0B | |||
| Investment in unconsolidated affiliate | $123.4M | $126.6M | |||
| Operating lease right-of-use assets | $77.8M | $72.6M | |||
| Finance lease right-of-use assets, net of accumulated amortization of $4.4 and $, respectively | $7.5M | $0 | |||
| Goodwill | $44.5M | $79.6M | $79.6M | ||
| Other intangible assets, net of accumulated amortization of $65.9 and $50.3, respectively | $77.3M | $67.9M | |||
| Deferred income taxes | $12.7M | $11.4M | |||
| Equity securities | $122.2M | $0 | |||
| Other assets | $7.8M | $7.0M | |||
| Land | $57.2M | $38.6M | |||
| Buildings and improvements | $272.5M | $190.4M | |||
| Machinery and equipment | $1.1B | $942.6M | |||
| Construction in progress | $105.9M | $132.7M | |||
| Total property, plant and equipment | $1.5B | $1.3B | |||
| Less: accumulated depreciation | $851.3M | $756.1M | |||
| Total property, plant and equipment, net | $649.3M | $548.2M | |||
| Total assets | $2.3B | $2.0B | |||
| Accounts payable | $424.0M | $402.5M | |||
| Short-term borrowings | $185.4M | $149.2M | |||
| Accrued compensation, contributions to employee benefit plans and related taxes | $60.0M | $43.0M | |||
| Dividends payable | $9.2M | $9.3M | |||
| Other accrued items | $56.2M | $15.3M | |||
| Current operating lease liabilities | $10.4M | $7.7M | |||
| Current finance lease liabilities | $2.9M | $0 | |||
| Income taxes payable | $700.0K | $4.5M | |||
| Current maturities of long-term debt | $27.0M | $0 | |||
| Total current liabilities | $775.8M | $631.5M | |||
| Other liabilities | $51.5M | $32.8M | |||
| Long-term debt | $44.4M | $2.3M | |||
| Noncurrent operating lease liabilities | $78.7M | $68.7M | |||
| Noncurrent finance lease liabilities | $5.5M | $0 | |||
| Deferred income taxes | $33.6M | $28.6M | |||
| Total liabilities | $989.5M | $763.9M | |||
| Redeemable noncontrolling interest (Redeemable NCI) | $65.3M | $0 | |||
| Total mezzanine equity | $65.3M | $0 | |||
| Additional Paid-in Capital (APIC) | $919.4M | $913.9M | |||
| Retained earnings | $140.0M | $164.2M | |||
| Accumulated other comprehensive income (loss), net of taxes of $(2.3) and $(2.0), respectively | $3.9M | -$4.0M | |||
| Total shareholders' equity - controlling interest | $1.1B | $1.1B | |||
| Noncontrolling interests (NCI) | $134.3M | $123.8M | |||
| Total equity | $1.2B | $1.2B | $1.1B | $1.2B | |
| Total liabilities, mezzanine equity and equity | $2.3B | $2.0B | |||
| Receivables, allowances | $1.1M | $3.8M | |||
| Accumulated amortization financing lease right of use assets | $4.4M | $0 | |||
| Other intangible assets, accumulated amortization | $65.9M | $50.3M | |||
| Preferred shares, shares authorized | 1.0M shares | 1.0M shares | |||
| Preferred shares, shares issued | 0 shares | 0 shares | |||
| Preferred shares, shares outstanding | 0 shares | 0 shares | |||
| Common shares, authorized | 150.0M shares | 150.0M shares | 100 shares | ||
| Common shares, shares issued | 49.9M shares | 49.5M shares | 100 shares | ||
| Common shares, shares outstanding | 49.9M shares | 49.5M shares | 100 shares | ||
| Accumulated other comprehensive income (loss), taxes | -$2.3M | -$2.0M |
| Period ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2023-02-28 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $84.6M | $38.0M | $40.2M | $32.7M | |
| Restricted cash | $0 | $54.9M | |||
| Receivables, less allowances of $1.1 and $3.8, respectively | $496.2M | $438.7M | |||
| Raw materials | $168.5M | $179.4M | |||
| Work in process | $145.9M | $165.6M | |||
| Finished products | $101.3M | $77.0M | |||
| Total inventories | $415.7M | $422.0M | |||
| Income taxes receivable | $14.3M | $100.0K | |||
| Assets held for sale | $9.1M | $11.5M | |||
| Prepaid expenses and other current assets | $110.0M | $83.3M | |||
| Total current assets | $1.1B | $1.0B | |||
| Investment in unconsolidated affiliate | $123.4M | $126.6M | |||
| Operating lease right-of-use assets | $77.8M | $72.6M | |||
| Finance lease right-of-use assets, net of accumulated amortization of $4.4 and $, respectively | $7.5M | $0 | |||
| Goodwill | $44.5M | $79.6M | $79.6M | ||
| Other intangible assets, net of accumulated amortization of $65.9 and $50.3, respectively | $77.3M | $67.9M | |||
| Deferred income taxes | $12.7M | $11.4M | |||
| Equity securities | $122.2M | $0 | |||
| Other assets | $7.8M | $7.0M | |||
| Land | $57.2M | $38.6M | |||
| Buildings and improvements | $272.5M | $190.4M | |||
| Machinery and equipment | $1.1B | $942.6M | |||
| Construction in progress | $105.9M | $132.7M | |||
| Total property, plant and equipment | $1.5B | $1.3B | |||
| Less: accumulated depreciation | $851.3M | $756.1M | |||
| Total property, plant and equipment, net | $649.3M | $548.2M | |||
| Total assets | $2.3B | $2.0B | |||
| Accounts payable | $424.0M | $402.5M | |||
| Short-term borrowings | $185.4M | $149.2M | |||
| Accrued compensation, contributions to employee benefit plans and related taxes | $60.0M | $43.0M | |||
| Dividends payable | $9.2M | $9.3M | |||
| Other accrued items | $56.2M | $15.3M | |||
| Current operating lease liabilities | $10.4M | $7.7M | |||
| Current finance lease liabilities | $2.9M | $0 | |||
| Income taxes payable | $700.0K | $4.5M | |||
| Current maturities of long-term debt | $27.0M | $0 | |||
| Total current liabilities | $775.8M | $631.5M | |||
| Other liabilities | $51.5M | $32.8M | |||
| Long-term debt | $44.4M | $2.3M | |||
| Noncurrent operating lease liabilities | $78.7M | $68.7M | |||
| Noncurrent finance lease liabilities | $5.5M | $0 | |||
| Deferred income taxes | $33.6M | $28.6M | |||
| Total liabilities | $989.5M | $763.9M | |||
| Redeemable noncontrolling interest (Redeemable NCI) | $65.3M | $0 | |||
| Total mezzanine equity | $65.3M | $0 | |||
| Additional Paid-in Capital (APIC) | $919.4M | $913.9M | |||
| Retained earnings | $140.0M | $164.2M | |||
| Accumulated other comprehensive income (loss), net of taxes of $(2.3) and $(2.0), respectively | $3.9M | -$4.0M | |||
| Total shareholders' equity - controlling interest | $1.1B | $1.1B | |||
| Noncontrolling interests (NCI) | $134.3M | $123.8M | |||
| Total equity | $1.2B | $1.2B | $1.1B | $1.2B | |
| Total liabilities, mezzanine equity and equity | $2.3B | $2.0B | |||
| Receivables, allowances | $1.1M | $3.8M | |||
| Accumulated amortization financing lease right of use assets | $4.4M | $0 | |||
| Other intangible assets, accumulated amortization | $65.9M | $50.3M | |||
| Preferred shares, shares authorized | 1.0M shares | 1.0M shares | |||
| Preferred shares, shares issued | 0 shares | 0 shares | |||
| Preferred shares, shares outstanding | 0 shares | 0 shares | |||
| Common shares, authorized | 150.0M shares | 150.0M shares | 100 shares | ||
| Common shares, shares issued | 49.9M shares | 49.5M shares | 100 shares | ||
| Common shares, shares outstanding | 49.9M shares | 49.5M shares | 100 shares | ||
| Accumulated other comprehensive income (loss), taxes | -$2.3M | -$2.0M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2026-05-31 | 2025-05-31 | 2024-05-31 |
|---|---|---|---|
| Net earnings (loss) | -$12.9M | $119.3M | $170.1M |
| Depreciation and amortization | $84.2M | $66.0M | $65.3M |
| Impairment of goodwill, long-lived assets, and other assets | $114.3M | $7.4M | $1.4M |
| Provision for (benefit from) deferred income taxes | -$10.4M | -$3.1M | $1.1M |
| Bad debt expense | $800.0K | $1.8M | $1.1M |
| Equity in net income of unconsolidated affiliate, net of distributions | $3.2M | $8.4M | -$20.4M |
| Net (gain) loss on sale of assets | -$4.7M | -$700.0K | $1.0M |
| Stock-based compensation | $13.9M | $11.0M | $10.3M |
| Unrealized gain on equity securities | -$16.0M | $0 | $0 |
| Receivables | -$16.3M | $34.1M | -$1.4M |
| Inventories | $47.2M | -$16.7M | $16.4M |
| Accounts payable | -$17.4M | $15.8M | -$26.7M |
| Accrued compensation and employee benefits | $5.4M | -$9.8M | $7.9M |
| Other operating items, net | $9.9M | -$3.2M | -$26.6M |
| Net cash provided by operating activities | $201.2M | $230.3M | $199.5M |
| Investment in property, plant and equipment | -$121.2M | -$130.4M | -$103.4M |
| Acquisitions, net of cash acquired | -$2.9M | $0 | -$21.0M |
| Proceeds from sale of assets, net of selling costs | $16.6M | $1.3M | $1.2M |
| Purchases of equity securities | -$106.2M | $0 | $0 |
| Other investing activities | $300.0K | $0 | $0 |
| Net cash used in investing activities | -$213.4M | -$129.1M | -$123.2M |
| Distribution to the Former Parent in connection with the Separation | $0 | $0 | -$150.0M |
| Transfers to the Former Parent, net | $0 | $0 | -$47.6M |
| Proceeds from short-term borrowings, net | $25.0M | $15.0M | $127.2M |
| Proceeds from revolving credit facility borrowings - swing loans | $1.6B | $508.7M | $266.1M |
| Repayment of revolving credit facility borrowings - swing loans | -$1.6B | -$522.5M | -$248.1M |
| Proceeds from long-term debt, net of issuance costs | $38.1M | $2.3M | $0 |
| Principal payments on long-term debt | -$22.4M | $0 | $0 |
| Payments of tax withholdings, net of proceeds from issuance of common shares | -$5.9M | -$3.1M | $300.0K |
| Payments to noncontrolling interests | -$6.0M | -$17.0M | -$8.8M |
| Dividends paid | -$32.6M | -$31.9M | -$7.9M |
| Payments of debt issuance costs | -$4.4M | $0 | $0 |
| Net cash provided by (used in) financing activities | $3.0M | -$48.5M | -$68.8M |
| Effects of exchange rate changes on cash, cash equivalents, and restricted cash | $900.0K | $0 | $0 |
| Increase (decrease) in cash, cash equivalents and restricted cash | -$8.3M | $52.7M | $7.5M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Worthington Steel, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerGeorge John Ganem Iii. Jun 15, 2026 to now9
- Chief executive officerGuido Kerkhoff Jun 15, 2026 to now10
- ChairJohn B. Blystone Dec 27, 2023 to now11
- PresidentClifford Larivey Dec 26, 2024 to now12
- Chief financial officerTimothy A. Adams Nov 16, 2023 to now13
- Chief operating officerJeffrey R. Klingler Dec 27, 2023 to now14
Board members and other officers (16)
- Corporate ControllerGwen Joseph Jun 30, 2026 to now15
- Exec VP and Chief Oper OfcrJeffrey R. Klingler Nov 16, 2023 to Dec 5, 202316
- ControllerSteven R. Witt Nov 16, 2023 to now17
- Board memberScott J. Kelly Jan 10, 2025 to now18
- Board memberMark C. Davis Jun 30, 2025 to now19
- Board memberCarl A. Nelson Jr. Nov 28, 2023 to Oct 1, 202420
- Board memberCharles M. Chiappone Dec 5, 2023 to now21
- Board memberGeorge P. Stoe Dec 5, 2023 to now22
- Board memberJohn B. Blystone Dec 5, 2023 to Dec 5, 202323
- Board memberJohn H. McConnell Dec 5, 2023 to now24
- Board memberJon J. Bowsher Dec 5, 2023 to now25
- Board memberMary Fackler Schiavo Dec 5, 2023 to now26
- Board memberNancy G. Mistretta Dec 5, 2023 to now27
- Board memberSidney A. Ribeau Dec 5, 2023 to now28
- General counselJoseph Heuer Feb 27, 2024 to now29
- General counselMichaune D. Tillman Nov 16, 2023 to Dec 27, 202330
Timeline
Filings
247 filings to the SEC since October 2021: 3 annual reports, 9 quarterly reports, 32 major events, 146 insider forms, 11 large holders, 46 other. The latest 20:
- Oct 13, 202610-Q EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 13, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 7, 20268-K EDGAR
- Oct 6, 2026144 EDGAR
- Sep 30, 20264 EDGAR
The 247 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
8 open-market trades by officers, directors and large owners since October 2021: 3 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 2, 2026 | KLINGLER JEFFREY RChief Operating Officer | Sale | 20,036 | $43.82 | $878.1K | Form 4 |
| Jun 1, 2026 | KLINGLER JEFFREY RChief Operating Officer | Sale | 200 | $43.00 | $8.6K | Form 4 |
| Jun 1, 2026 | ADAMS TIMOTHY AChief Financial Officer | Sale | 2,367 | $42.27 | $100.1K | Form 4 |
| May 22, 2026 | Larivey CliffordPresident Flat Rolled Stl Proc | Sale | 11,105 | $40.09 | $445.2K | Form 4 |
| Jan 30, 2026 | BOWSHER JON JDirector | Buy | 2,500 | $40.15 | $100.4K | Form 4 |
| Jan 27, 2026 | Kelly Scott JDirector | Buy | 7,000 | $39.11 | $273.8K | Form 4 |
| Apr 26, 2024 | NELSON CARL A JRDirector | Sale | 12,000 | $30.89 | $370.7K | Form 4 |
| Jan 12, 2024 | Chiappone Charles MDirector | Buy | 1,850 | $28.08 | $51.9K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G, 1 filing Jul 14, 202631
- BlackRockSCHEDULE 13G/A, 1 filing Apr 24, 202632
- VANGUARD GROUP INCSCHEDULE 13G/A, 6 filings Feb 13, 2024 to Mar 27, 202633
- John H. McConnellSC 13D, 1 filing Dec 11, 202334
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 5,107,237 | $171.5M | 0.0% | +2,608 |
| Dimensional Fund Advisors LP | 2,566,114 | $86.2M | 0.0% | +45,796 |
| Vanguard Portfolio Management LLC | 2,280,211 | $76.6M | 0.0% | +3,935 |
| State Street Corp | 2,078,892 | $69.8M | 0.0% | −185,464 |
| Vanguard Capital Management LLC | 1,650,805 | $55.4M | 0.0% | +27,353 |
| Geode Capital Management, LLC | 890,497 | $29.9M | 0.0% | +52,607 |
| Alliancebernstein L.P. | 943,738 | $28.6M | 0.0% | −12,503 |
| Fisher Asset Management, LLC | 640,136 | $21.5M | 0.0% | +384,200 |
| Charles Schwab Investment Management Inc | 619,598 | $20.8M | 0.0% | −119,459 |
| Teacher Retirement System Of Texas | 589,218 | $19.8M | 0.1% | +24,421 |
| Invesco Ltd. | 512,451 | $17.2M | 0.0% | +134,937 |
| Morgan Stanley | 440,834 | $14.8M | 0.0% | −47,851 |
| Goldman Sachs Group Inc | 398,032 | $13.4M | 0.0% | +43,022 |
| Northern Trust Corp | 388,242 | $13.0M | 0.0% | +25,056 |
| Bridgeway Capital Management, LLC | 386,495 | $13.0M | 0.2% | +3,133 |
| Nuveen, LLC | 363,821 | $12.2M | 0.0% | +74,457 |
| Bank of New York Mellon Corp | 345,942 | $11.6M | 0.0% | +4,532 |
| FIL Ltd | 325,221 | $10.9M | 0.0% | −35,288 |
| American Century Companies Inc | 268,919 | $9.0M | 0.0% | −148,742 |
| Empowered Funds, LLC | 240,495 | $8.1M | 0.0% | −421 |
| Vanguard Fiduciary Trust Co | 220,456 | $7.4M | 0.0% | +3,834 |
| Keybank National Association/oh | 206,920 | $6.9M | 0.0% | +15 |
| Principal Financial Group Inc | 204,307 | $6.9M | 0.0% | +2,882 |
| Windsor Advisory Group, LLC | 195,284 | $6.6M | 4.8% | −80,601 |
| Renaissance Technologies LLC | 191,138 | $6.4M | 0.0% | +4,700 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 11SEC EDGARJohn B. Blystone, Chair
- 12SEC EDGARClifford Larivey, President
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- 15SEC EDGARGwen Joseph, Corporate Controller
- 16
- 17SEC EDGARSteven R. Witt, Controller
- 18SEC EDGARScott J. Kelly, Board member
- 19SEC EDGARMark C. Davis, Board member
- 20SEC EDGARCarl A. Nelson Jr., Board member
- 21SEC EDGARCharles M. Chiappone, Board member
- 22SEC EDGARGeorge P. Stoe, Board member
- 23SEC EDGARJohn B. Blystone, Board member
- 24SEC EDGARJohn H. McConnell, Board member
- 25SEC EDGARJon J. Bowsher, Board member
- 26SEC EDGARMary Fackler Schiavo, Board member
- 27SEC EDGARNancy G. Mistretta, Board member
- 28SEC EDGARSidney A. Ribeau, Board member
- 29SEC EDGARJoseph Heuer, General counsel
- 30SEC EDGARMichaune D. Tillman, General counsel
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