Filing Flows › Worthington Steel (WS) › Q3 FY25
Worthington Steel (WS) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Apr 11, 2025
Worthington Steel (WS) reported revenue of $687M for the third quarter fiscal 2025 (Q3 FY25), -15% from a year earlier and -7% from the quarter before. Operating margin was 2.7%, net earnings $13.8M (2.0% of revenue).
Worthington Steel, Q3 FY25: revenue $687M (-15% year over year), operating margin 2.7%, net earnings $13.8M, operating cash flow $53.8M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $687M | -7% | -15% |
| Gross profit | $81.2M | +1% | -32% |
| Operating profit | $18.3M | -3% | -72% |
| Net earnings | $13.8M | +8% | -72% |
| Operating cash flow | $53.8M | -21% | +20% |
| Free cash flow | $25.2M | — | +13% |
What changed
Revenue was $687.4M in Q3 FY25, down 15% year over year and down 7% from the previous quarter.
Gross margin was 11.8%, down 3.1 points from a year earlier. Operating profit was $18.3M, a 2.7% margin (down 5.6 points year over year). Operating expenses grew 17% against a revenue fall of 15%. The fastest-growing cost line was Other operating costs (+730%). Net earnings were $13.8M, down 72% year over year ($12.1M including minority interests, which bore $1.7M of losses). The effective tax rate was 29.2%.
Operating cash flow was $53.8M (up 20% year over year), 445% of net income including minority interests. Non-cash charges added back $16.6M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items added $22.3M. After investment in property, plant and equipment ($28.6M), free cash flow as the company reports it was $25.2M.
Questions
What was Worthington Steel's revenue in the third quarter fiscal 2025?
Worthington Steel (WS) reported revenue of $687M for the third quarter fiscal 2025 (Q3 FY25), -15% from a year earlier and -7% from the quarter before.
Was Worthington Steel profitable in the third quarter fiscal 2025?
Operating profit was $18.3M (2.7% of revenue) and net earnings $13.8M.
Source: Worthington Steel 10-Q on SEC EDGAR.