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. reports company news centered on value-added steel processing, quarterly and annual operating results, dividends, conference calls and corporate updates. Its business updates describe carbon flat-rolled steel processing, electrical steel laminations, tailor welded products and related capabilities such as galvanizing, pickling, configured blanking, specialty cold reduction and lightweighting.
Worthington Steel news also includes disclosures about material agreements, capital-structure matters and shareholder-related developments when they affect the company’s public reporting. The recurring news record reflects a NYSE-listed Ohio company with steel-processing operations across the United States and international markets.
L&F Acquisition Corp. (LNFA) has announced its decision to transfer its listing from the New York Stock Exchange to the NYSE American LLC, effective on or about June 10, 2022. This strategic move is motivated by the more favorable listing requirements on the NYSE American. LNFA will continue to file the same periodic reports with the SEC post-transfer. The company is also advancing towards a business combination with ZeroFox and IDX, with a proxy statement expected to provide further details regarding the vote on the proposed business combination.
American Express Global Business Travel (Amex GBT) announced it will begin trading on the NYSE under the ticker symbol GBTG starting May 31, 2022. This milestone follows the successful business combination with Apollo Strategic Growth Capital (NYSE: APSG, APSGU, APSG WS), which closed on May 27, 2022. Amex GBT aims to capitalize on the $1.4 trillion business travel market, supported by strategic acquisitions, technology enhancements, and new investments from notable partners.
Josh McMorrow has been appointed as Chief Legal Officer of Energy Vault Holdings, Inc. (NYSE: NRGV,WS). With over two decades of international legal experience, McMorrow will oversee legal, regulatory, and compliance functions, crucial for the company's global expansion. His previous achievements include leading Atotech Limited's IPO, which reached a market capitalization of $4 billion. Robert Piconi, CEO of Energy Vault, emphasized McMorrow's role in guiding the company through a pivotal growth phase while ensuring high corporate governance standards.
Volta Inc. (NYSE: VLTA, VLTA WS) reported a 77% year-over-year revenue increase to $8.4 million for Q1 2022. Media revenue rose by 73% to $6.1 million, while total installed charging stalls grew 39% to 2,548. The company expanded partnerships with notable brands like Tanger Outlets and Six Flags, enhancing its position in the EV charging market. Despite a net loss of $48.1 million, cash reserves stood at $205.4 million. Volta maintains a revenue guidance of $70-$80 million for FY 2022, with Q2 expectations between $13-$14 million.
Sky Harbour Group Corporation (NYSE American: SKYH, SKYH WS) reported its financial results for the first quarter of 2022. The company successfully completed its business combination with Yellowstone, securing an additional $60 million in fresh equity. It now holds $233 million in cash and Treasury securities to support future growth. Recent developments include purchasing a ground lease at Miami-Opa Locka Airport for $8.5 million, expected to save $30 million over the lease term. Sky Harbour anticipates announcing new locations soon and starting operations in Nashville and Miami later in the year.
Energy Vault Holdings announced the expansion of its Louisiana project, increasing capacity from 500 MWh to 1,168 MWh for green hydrogen production. This upsizing adds $217 million to the previous revenue estimate of $520 million, totaling potential project revenue of $737 million. The project aims to support sustainable aviation fuel production. Engineering optimizations resulted in a 14% efficiency gain, boosting production capacity to 11,650 barrels per day.
Vicarious Surgical announced its financial results for Q1 2022, reporting a substantial increase in operating expenses to $18.2 million from $5.2 million in Q1 2021, marking a 248% rise. R&D costs rose to $9.8 million, while general and administrative expenses reached $6.9 million. The adjusted net loss was $18.2 million, or $0.15 per share, compared to a loss of $5.2 million, or $0.06 per share, in the previous year. Notably, GAAP net income was $42.5 million, translating to net income per share of $0.35. The company continues to advance its Vicarious System with successful beta testing.
Energy Vault Holdings (NYSE: NRGV, NRGV WS) has commenced construction on its first 100 MWh EVx system in Rudong, Jiangsu Province, China, aimed at enhancing grid resiliency and supporting renewable energy integration. The system, adjacent to a wind farm, will supply State Grid Corporation of China, the world’s largest utility serving over 1.1 billion people. The project follows a $50 million licensing deal with Atlas Renewable and is part of China's decarbonization efforts in line with its 30-60 policy for carbon neutrality.
Energy Vault has signed a Memorandum of Understanding (MOU) with NTPC Limited to establish a long-term partnership focused on deploying Energy Vault's EVx™ gravity-based energy storage technology. This collaboration aims to enhance NTPC's clean energy transition while utilizing coal ash in manufacturing composite blocks for the energy storage system. Energy Vault's CEO, Robert Piconi, emphasized the importance of this partnership in expanding into a significant market and accelerating the clean energy goal globally.
Energy Vault Holdings, Inc. (NYSE: NRGV, NRGV WS) will announce its earnings results for Q1 2022 on May 16, 2022, at 5:00 PM ET. A conference call will follow, accessible via phone or a live webcast. The company focuses on sustainable grid-scale energy storage solutions, employing proprietary technology aimed at reducing energy costs while ensuring reliability. Energy Vault's innovative approach includes using eco-friendly materials to support the transition to a circular economy and clean energy.