Filing Flows › Worthington Steel (WS) › Q4 FY26
Worthington Steel (WS) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Jul 30, 2026
Worthington Steel (WS) reported revenue of $929M for the fourth quarter fiscal 2026 (Q4 FY26), +12% from a year earlier and +21% from the quarter before. Operating margin was -8.0%, net loss $83.8M (9.0% of revenue).
Worthington Steel, Q4 FY26: revenue $929M (+12% year over year), operating margin -8.0%, net loss $83.8M, operating cash flow $44.9M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $929M | +21% | +12% |
| Operating profit | −$74.5M | -2503% | -212% |
| Net earnings | −$83.8M | -906% | -250% |
| Operating cash flow | $44.9M | -29% | -17% |
| Free cash flow | $7.8M | — | -7% |
What changed
Revenue was $929.2M in Q4 FY26, up 12% year over year and up 21% from the previous quarter.
Gross margin was 12.8%, down 2.5 points from Q4 FY25. Operating costs exceeded revenue by $74.5M, an operating margin of -8.0%. Operating expenses grew 219% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+6500%). The quarter ended with a net loss of $83.8M, after a profit of $10.8M the previous quarter. Minority interests bore $26.3M of it: to shareholders the quarter was a loss of $57.5M.
Operating cash flow was $44.9M (down 17% year over year). Non-cash charges added back $20.6M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $106.0M. After investment in property, plant and equipment ($37.1M), free cash flow as the company reports it was $7.8M.
Questions
What was Worthington Steel's revenue in the fourth quarter fiscal 2026?
Worthington Steel (WS) reported revenue of $929M for the fourth quarter fiscal 2026 (Q4 FY26), +12% from a year earlier and +21% from the quarter before.
Was Worthington Steel profitable in the fourth quarter fiscal 2026?
Operating loss was $74.5M (-8.0% of revenue) and net loss $83.8M.
Source: Worthington Steel 10-K on SEC EDGAR.