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Worthington Steel (NYSE: WS) has implemented a Dividend Reinvestment Plan (DRIP), effective Sept. 13, 2024. The optional DRIP allows eligible shareholders to automatically reinvest all or part of their cash dividends into additional common shares. Key benefits include:
- Convenience of automatic dividend reinvestment
- Flexibility to reinvest all or a portion of dividends
Reinvestment Shares will be acquired through the open market. Registered shareholders can enroll online or by contacting Broadridge Shareholder Services at 844-917-0956. Beneficial shareholders should contact their financial intermediaries for enrollment details. Participants may incur fees for termination, withdrawal, or disposition of Reinvestment Shares. The DRIP does not affect tax obligations on reinvested dividends.
Worthington Steel (NYSE: WS) reported its fiscal 2025 first quarter results, ending August 31, 2024. Key highlights include:
- Net sales decreased 8% to $834.0 million from $905.8 million in Q1 2024
- Operating income fell to $43.4 million from $69.7 million
- Net earnings per diluted share dropped to $0.56 from $1.19
- Adjusted EBIT decreased to $39.4 million from $80.5 million
- Declared a quarterly dividend of $0.16 per share
The company faced headwinds but maintained stable demand. The decrease in performance was primarily due to lower direct spreads, reduced volume, and an unfavorable change in inventory holding. Despite challenges, Worthington Steel continues to focus on delivering value-added solutions for customers in metal transformation, lightweighting, and electrification support.
Worthington Steel (NYSE: WS) has declared a quarterly dividend of $0.16 per common share, payable on Dec. 27, 2024, to shareholders of record Dec. 13, 2024. The company will host a conference call to discuss its fiscal 2025 first quarter results on Thursday, Sept. 26, 2024, at 8:30 a.m. ET. Investors can access the live webcast on the Investor Relations section of the company's website, which will be archived for one year. For those preferring a phone call, a toll-free dial-in number is provided. To receive automatic financial news updates, interested parties can subscribe to email alerts on the company's investor relations website.
Southland Holdings (NYSE American: SLND) has announced that its subsidiary, Oscar Renda Contracting, has been awarded a $132 million contract by the Bureau of Reclamation. The project involves constructing a new water treatment plant, including a storage facility and site improvements. The scope also includes demolition of existing structures. Southland secured this contract based on offering the best value to their long-standing client. This significant award will be included in the company's third quarter 2024 backlog.
Sky Harbour Group (NYSE American: SKYH) has announced a $31.8 million equity raise through a securities purchase agreement, issuing 3,352,106 PIPE shares of Class A Common Stock at $9.50 per share. The initial closing is expected between October 15-25, 2024. Investors have the option to purchase additional shares at the same price, potentially doubling the proceeds to $63 million.
Combined with a previously announced $150 million private activity debt financing, Sky Harbour aims to secure approximately $240 million to fund its growth plan through 2026. This will support the development of 6-7 new airport campuses, adding about 800,000 rentable square feet to its portfolio. The company forecasts announcing eight new ground leases by the end of 2025, expanding its presence to 22 airports.
Worthington Steel (NYSE: WS) has announced it will report its fiscal first quarter 2025 results after market close on Wednesday, September 25, 2024. The company will host a conference call to discuss these results on Thursday, September 26, 2024, at 8:30 a.m. ET. Investors and analysts can access the live webcast through the Investor Relations section of Worthington Steel's website, where it will remain archived for one year. For those preferring to join by phone, a toll-free dial-in number (888.510.2553) and conference ID (5714141) have been provided.
Sky Harbour Group (NYSE American: SKYH), an aviation infrastructure company, is set to present at the 2024 Annual Gateway Conference on September 4th at 1:30 pm PT in San Francisco. The presentation will be webcast live and available for replay. SHG is building the first nationwide network of Home-Basing campuses for business aircraft.
Key points:
- Presentation date: September 4, 2024
- Time: 1:30 pm Pacific Time
- Location: Four Seasons Hotel, San Francisco, CA
- Webcast link: https://wsw.com/webcast/gateway2/skyh/
- One-on-one meetings available with executives
For additional information or to schedule meetings, interested parties can email conference@gateway-grp.com.
Vicarious Surgical Inc. (NYSE: RBOT), a pioneering robotics technology company focused on revolutionizing robotic surgery, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference in New York. The company's management team is set to engage in a fireside chat on Friday, September 6, 2024, at 11:30 a.m. ET.
This presentation at a major healthcare conference highlights Vicarious Surgical's commitment to showcasing its innovative approach to improving surgical procedures through advanced robotics. The company's participation provides an opportunity for investors and industry professionals to gain insights into Vicarious Surgical's technology and future plans in the rapidly evolving field of robotic-assisted surgery.
Sky Harbour Group (NYSE American: SKYH) reported strong Q2 2024 results, with consolidated revenues increasing 109% year-over-year and 50% quarter-over-quarter. The company improved its net cash used in operating activities to $1.0 million in Q2 2024, down from $4.4 million in Q1 2024. Sky Harbour Capital (Obligated Group) achieved positive cash flow from operating activities of $1.1 million in Q2.
The company announced its 14th campus at Salt Lake City International Airport and increased its expected indoor rentable square footage to 2.4 million square feet. Sky Harbour is evaluating proposals for up to $150 million in new tax-exempt debt to support growth, with indicative fixed interest rates ranging from 4.55% to 5.80%. The company expanded its management team, adding executives in airport operations, construction, and development roles.
Southland Holdings (NYSE: SLND) reported Q2 2024 financial results, showing a revenue decrease of 2.1% to $251.5 million compared to Q2 2023. The company experienced a gross loss of $40.0 million, up from $33.8 million in Q2 2023. Net loss attributable to stockholders widened to $46.1 million, or $(0.96) per share, compared to $12.8 million, or $(0.27) per share in Q2 2023. Adjusted EBITDA was $(49.9) million. The company settled several contract disputes, resulting in a $40 million non-recurring charge in Q2. Despite challenges, Southland reported positive cash flow from operations of $27.4 million and new awards of $374.8 million. The backlog stood at $2.74 billion as of June 30, 2024.