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Worthington Steel, Inc. - ws STOCK NEWS

Welcome to our dedicated page for Worthington Steel news (Ticker: ws), a resource for investors and traders seeking the latest updates and insights on Worthington Steel stock.

Worthington Steel, Inc. (WS) stands as a top-tier value-added steel processor in North America, known for its expansive range of products and services. The company excels in the carbon flat-rolled steel sector and the tailor-welded blanks segments, offering solutions to a variety of end markets.

Worthington Steel's core business involves processing steel to create high-quality products for industries such as automotive, construction, and manufacturing. The company prides itself on its market-leading positions and its commitment to innovation and sustainability in steel processing.

Recent achievements include advances in technology and strategic partnerships aimed at enhancing production efficiency and product quality. The company continuously explores new projects to expand its market reach and improve its financial health, showcasing a strong commitment to growth and development.

Worthington Steel's dedication to excellence is evident in its financial condition, with sustained profitability and a robust balance sheet. The company collaborates with industry leaders and leverages its expertise to deliver superior value to its stakeholders.

Current Projects:

  • Expansion of production capabilities in the carbon flat-rolled steel sector.
  • Development of innovative tailor-welded blanks to meet industry demands.
  • Strategic partnerships to enhance sustainability and efficiency.

By providing diverse and high-quality products, Worthington Steel remains a key player in the steel processing industry, poised for continued success and growth.

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Sky Harbour Group announced its inclusion in the Russell 2000 Index, effective July 1st. This move is part of the 2024 Russell indexes annual reconstitution. The company believes this addition will expand its investor base and increase the liquidity of its public float. CFO Francisco X. Gonzalez highlighted upcoming engagements at investor conferences and the anticipation of additional third-party research coverage. Sky Harbour aims to grow its business profitably, improve debt service coverage, and accelerate value creation for shareholders. The company views this inclusion as a significant step towards achieving these goals.

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Worthington Steel (NYSE: WS) reported its fiscal 2024 fourth quarter and full year results ending May 31, 2024. Net sales increased by 3% to $911.0 million compared to $884.0 million in the same quarter last year. However, there was a decrease in key financial metrics: operating income dropped to $67.3 million from $89.8 million, net earnings fell to $53.2 million from $67.3 million, and adjusted EBIT decreased to $70.4 million from $98.4 million. Earnings per diluted share also declined to $1.06 from $1.37.

For the full fiscal year, net sales decreased to $3.43 billion from $3.61 billion. The company declared a quarterly dividend of $0.16 per share, payable on September 27, 2024. Worthington Steel was awarded the 2023 Supplier of the Year by General Motors and maintained its status as a John Deere Partner-level Supplier for the 12th consecutive year. The company reported negative free cash flow of $9.2 million for Q4, largely due to increased capital expenditures for expansions in electrical steel operations.

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The board of directors of Worthington Steel (NYSE: WS) has announced a quarterly dividend of $0.16 per common share. The dividend will be paid on September 27, 2024, to shareholders who are recorded as of September 13, 2024.

Additionally, Worthington Steel will conduct a conference call to discuss its fiscal fourth quarter results at 8:30 a.m. ET on June 27, 2024. The live webcast will be accessible via the Investor Relations section of the company's website and archived for a year.

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Vicarious Surgical (NYSE: RBOT, RBOT WS) announced a 1-for-30 reverse stock split for its Class A and Class B common stock, effective June 12, 2024. This move aims to raise the company's share price to meet NYSE listing requirements. Post-split, Class A common stock will reduce from approximately 156.76 million to about 5.23 million shares, and Class B from 19.62 million to roughly 654,000 shares. Trading on a post-split basis begins on June 13, 2024, under the symbol 'RBOT'. The split will uniformly affect all stockholders without changing ownership percentages, except for fractional shares, which will be paid in cash. Warrants will also be adjusted, with the exercise price changing to $345 per share.

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Worthington Steel (NYSE: WS) will release its fiscal fourth-quarter results after the market closes on June 26, 2024.

The company will also host a conference call to discuss these results at 8:30 a.m. ET on June 27, 2024.

The webcast will be accessible through the Investor Relations section of the company's website and archived for one year.

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Sky Harbour Group (NYSE American: SKYH, SKYH WS) announced a lease agreement with the Metropolitan Washington Airports Authority to develop an 18-acre Sky Harbour Home Base campus at Dulles International Airport (IAD). The new campus will create and sustain hundreds of local jobs, contributing to Northern Virginia's economy. This facility aims to host Washington, DC's top corporate and private jets, offering state-of-the-art hangars and exclusive line services. Dulles joins other Sky Harbour locations like Houston’s Sugar Land and Nashville International airports, with additional campuses under development in cities like Denver and Dallas. The facility will feature hangar space, office areas, operational infrastructure, and ample parking. Sky Harbour's CEO, Tal Keinan, emphasizes the company's commitment to top-tier aviation safety and efficiency at this prime location.

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Sky Harbour Group (NYSE American: SKYH) announced a new lease agreement with the Port Authority of New York and New Jersey for developing a Sky Harbour campus at Stewart International Airport (SWF). The campus will house top corporate and privately-owned business jets in advanced hangars, providing exclusive line-services and minimizing time to departure. This project aims to create and sustain hundreds of jobs, boosting economic benefits for New York State, Orange County, and Stewart International Airport. The SWF campus will be the third Sky Harbour facility in the New York metropolitan area, joining others in Houston, Nashville, Miami, and San Jose. Additional campuses are currently in development or planned. Sky Harbour's CEO, Tal Keinan, highlighted the company's commitment to delivering long-term benefits to local communities, and this project marks the first partnership with MJJ Builders, Passero Associates, Jonah Mandelbaum, and the Red Tail Flight Academy.

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Sky Harbour Group (NYSE: SKYH) reported record revenues for Q1 2024, achieving a 117% increase compared to Q1 2023. The company reached cash flow break-even at Sky Harbour Capital and plans to expedite construction activities. SG&A expenses rose by 38%, while net cash used in operations decreased slightly from $4.5 million to $4.4 million. Sky Harbour maintains strong liquidity with $160 million in cash and investments. All operating campuses are fully leased, and the new San Jose Mineta campus is 58% leased. Phases 1 in Denver, Phoenix, and Dallas resumed construction. The company aims to secure ground leases at four more airports by the end of 2024 and six more by the end of 2025.

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Southland Holdings announced its Q1 2024 results, reporting a revenue of $288.1 million, a 5% increase from Q1 2023's $274.8 million. The gross profit rose to $20.4 million, up from $18.9 million. However, the company faced a net loss of $0.4 million, significantly improved from the $4.7 million loss in Q1 2023. The Adjusted EBITDA fell to $10.9 million from $12.7 million. The backlog decreased to $2.64 billion from $2.83 billion as of December 31, 2023. Despite the improvements in revenue and gross profit, the company saw a decline in its Adjusted EBITDA and backlog, affecting its long-term outlook.

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Southland Holdings (NYSE American: SLND) reported its Q1 2024 results. The company saw a 5% increase in revenue to $288.1 million compared to Q1 2023's $274.8 million. Gross profit rose to $20.4 million from $18.9 million, with a margin increase from 6.9% to 7.1%. The net loss attributable to stockholders decreased significantly to $0.4 million, or $(0.01) per share, from $4.7 million, or $(0.11) per share, in Q1 2023. Adjusted EBITDA fell to $10.9 million from $12.7 million. Southland's backlog decreased to $2.64 billion from $2.83 billion at the end of December 2023. Selling, general, and administrative expenses dropped by 7.6% to $14.4 million. The company highlighted strong demand in its core markets due to substantial federal and local infrastructure investments.

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FAQ

What is Worthington Steel, Inc.?

Worthington Steel, Inc. (WS) is a leading value-added steel processor in North America, known for its diverse range of products and market-leading positions in carbon flat-rolled steel and tailor-welded blanks.

What industries does Worthington Steel serve?

Worthington Steel serves various industries including automotive, construction, and manufacturing.

What are some of Worthington Steel’s recent achievements?

Recent achievements include advances in technology, strategic partnerships, and new project developments aimed at enhancing production efficiency and product quality.

What is the financial condition of Worthington Steel?

Worthington Steel maintains sustained profitability and a robust balance sheet, reflecting its strong financial health.

What are Worthington Steel’s current projects?

Current projects include expanding production capabilities in the carbon flat-rolled steel sector, developing innovative tailor-welded blanks, and forming strategic partnerships to enhance sustainability and efficiency.

What makes Worthington Steel a key player in the steel processing industry?

Worthington Steel’s commitment to innovation, high-quality products, and strategic growth initiatives positions it as a key player in the steel processing industry.

How does Worthington Steel contribute to sustainability?

Worthington Steel engages in strategic partnerships and projects aimed at enhancing sustainability and production efficiency in the steel processing industry.

Who are Worthington Steel’s main competitors?

Worthington Steel competes with other leading steel processing companies in North America, particularly in the carbon flat-rolled steel and tailor-welded blanks markets.

What is the significance of Worthington Steel’s market-leading positions?

Worthington Steel’s market-leading positions in carbon flat-rolled steel and tailor-welded blanks highlight its expertise and dominance in these segments, contributing to its overall success.

How can investors stay updated on Worthington Steel’s news?

Investors can stay updated on Worthington Steel’s news by following stock market websites like StockTitan, which provide the latest updates and relevant information about the company.

Worthington Steel, Inc.

NYSE:WS

WS Rankings

WS Stock Data

1.80B
50.38M
34.26%
47.33%
1.04%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
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United States of America
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