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COLUMBUS, Ohio - Worthington Steel , Inc. (NYSE:WS) reported fourth quarter earnings that beat analyst expectations, sending shares soaring 9.5% in after-hours trading.
The metals processor posted adjusted earnings per share of $1.05, significantly above the $0.69 analyst consensus. Revenue came in at $832.9 million, also topping estimates of $725 million.
Net sales decreased 9% YoY to $832.9 million, primarily due to lower average selling prices and lower toll volumes. However, the company saw improved direct spreads and lower SG&A expenses.
"Despite a mixed economic environment, our team executed well in the fourth quarter, advancing key growth initiatives while maintaining our focus on safety and partner relationships," said CEO Geoff Gilmore.
Worthington Steel generated free cash flow of $8.4 million in Q4, compared to negative $9.2 million in the year-ago quarter. The company ended the period with $38 million in cash and $151.5 million in total debt.
For fiscal 2025, adjusted EBITDA was $215.1 million on net sales of $3.09 billion.
The company declared a quarterly dividend of $0.16 per share, payable on September 26 to shareholders of record as of September 12.
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