Filing Flows › Worthington Steel (WS) › Q2 FY26
Worthington Steel (WS) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 8, 2026
Worthington Steel (WS) reported revenue of $872M for the second quarter fiscal 2026 (Q2 FY26), +18% from a year earlier and -0.1% from the quarter before. Operating margin was 2.5%, net earnings $18.8M (2.2% of revenue).
Worthington Steel, Q2 FY26: revenue $872M (+18% year over year), operating margin 2.5%, net earnings $18.8M, operating cash flow $99.3M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $872M | -0.1% | +18% |
| Gross profit | $93.2M | -19% | +17% |
| Operating profit | $21.7M | -55% | +15% |
| Net earnings | $18.8M | -49% | +47% |
| Operating cash flow | $99.3M | — | +46% |
| Free cash flow | $74.6M | — | +125% |
What changed
Revenue was $871.9M in Q2 FY26, up 18% year over year and roughly flat from the previous quarter.
Gross margin was 10.7%, down 0.1 points from a year earlier. Operating profit was $21.7M, a 2.5% margin (down 0.1 points year over year). Of the extra revenue versus a year earlier, 2% reached operating profit, below the 3% margin then. Operating expenses grew 17% against revenue growth of 18%. Net earnings were $18.8M, up 47% year over year. The effective tax rate was 16.3%.
Operating cash flow was $99.3M (up 46% year over year), 462% of net income including minority interests. Non-cash charges added back $21.7M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items added $52.1M. After investment in property, plant and equipment ($24.7M), free cash flow as the company reports it was $74.6M.
Questions
What was Worthington Steel's revenue in the second quarter fiscal 2026?
Worthington Steel (WS) reported revenue of $872M for the second quarter fiscal 2026 (Q2 FY26), +18% from a year earlier and -0.1% from the quarter before.
Was Worthington Steel profitable in the second quarter fiscal 2026?
Operating profit was $21.7M (2.5% of revenue) and net earnings $18.8M.
Source: Worthington Steel 10-Q on SEC EDGAR.