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Worthington Steel, Inc.
As of May 30, 2026 at 24:05 UTC
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About Worthington Steel, Inc.
Worthington Steel Inc is a processor of carbon flat-rolled steel, a producer of laser-welded solutions, and a provider of electrical steel laminations. The company has manufacturing facilities across the United States, Canada, China, India, Germany and Mexico. It buys coils of steel from primary steel producers and processes them to precise type, thickness, length, width, shape, and surface quality required by customer specifications. The company's product lines and processing capabilities include; carbon flat-rolled steel processing, electrical steel laminations, and tailor welded products. Geographically, the company generates a majority of its revenue from the United States followed by Canada, Mexico, and other regions.
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Latest News
5 articlesU.S. stock futures fell on Thursday amid escalating Iran tensions and Trump's threats of military action. Major indices declined with the Dow down 0.47%, S&P 500 down 0.55%, and Nasdaq 100 down 0.65%. BlackRock downgraded U.S. stocks to neutral citing geopolitical risks and energy market disruptions. Several individual stocks experienced significant moves: Olaplex surged 48% on acquisition news, while Worthington Steel plunged 14% and MillerKnoll dropped 19% on weak earnings.
Worthington Steel announced an agreement to acquire Kloeckner & Co for €11 per share ($12.8), creating North America's second-largest steel service center with combined revenues over $9.5 billion. The $2.4 billion deal is expected to deliver $150 million in annual synergies and boost EPS in the first full year post-closing. Worthington Steel shares surged to a new 52-week high, up 1.29% in premarket trading.
Meros Investment Management fully exited its position in Worthington Steel in Q3, selling shares worth $5.3 million. Despite the sell-off, the company shows improving fundamentals with recent revenue growth and stable earnings.
The two-day rally the broader market witnessed could stall, as traders choose to remain cautious ahead of a string of economic catalysts. The negative reaction to Micron Technology, Inc.‘s (NASDAQ:MU) earnings could generate weakness in the tech space. AI stalwart Nvidia Corp.’s (NASDAQ:NVDA) two-day rally is cooling off following its annual shareholder meeting. Bond yields have ticked up, with the 10-year-old Treasury yield holding above the 4.3% mark. Traders may bide their time amid the fluid situation in a bid to see off late Thursday’s presidential debate and Federal Reserve’s preferred inflation gauge due on Friday. Futures Performance (+/-) Nasdaq 100 -0.12% S&P 500 -0.11% Dow -0.16% R2K -0.12% In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.05% at $545.25 and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.08% to $479.98, according to Benzinga Pro data.Cues From Last Session: Stocks closed higher on Wednesday although sentiment remained lackluster throughout the session amid caution. The major averages opened lower and the tech strength kept the Nasdaq Composite Index mostly above the unchanged line but the S&P 500 Index and the Dow Jones Industrial Average traded mostly below the flat line before recovering by the close of the session. Most S&P 500 sector stocks ended weaker, while consumer discretionary stocks found strong buying interest. IT and communications stocks rose modestly. On the Main Street front, new home sales came in weaker than expected, although one could take comfort from the fact that previous months’ readings were upwardly revised. House prices remained ...Full story available on Benzinga.com
Futures trading reflects the same trend seen on Tuesday, with the Nasdaq and S&P 500 futures firming up in early trading, while the Dow futures slipped. Notwithstanding the tech strength, the underlying sentiment is likely to be one of caution ahead of some key market-moving economic catalysts scheduled for the next two sessions. The Nvidia Corp. (NASDAQ:NVDA) rally continues, with the stock firmer in premarket trading. It remains to be seen if the concentrated tech strength could be strong enough to lift the broader market. The market could also receive a shot in the arm from FedEx Corp.’s (NYSE:FDX) positive earnings and M&A rumors. The Federal Reserve’s favorite inflation gauge, more Fed speeches, consumer sentiment data and durables goods order are among the key reports due on Thursday and Friday. More importantly, traders may also focus on the presidential debate that is scheduled for late Thursday. Futures Performance (+/-) Nasdaq 100 +0.21% S&P 500 +0.05% Dow -0.14% R2K -0.30% In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged up 0.01% at $544.90 and the Invesco QQQ ETF (NASDAQ:QQQ) rose 0.16% to $480.15, according to Benzinga Pro data.Cues From Last Session: The tech rally, spearheaded by Nvidia Corp. (NASDAQ:NVDA), imparted strength to the broader market on Tuesday, although weakness elsewhere dragged the Dow Jones Industrial Average lower. IT and communication services stocks launched into a strong rally and energy stocks saw modest strength ...Full story available on Benzinga.com
