Worthington Steel's profits, sales rise in fiscal Q2'26

Worthington Steel reported higher profits and sales in its fiscal second quarter of 2026.

The Columbus, Ohio-based steel processor reported net income attributable to controlling interest of $18.8 million in its fiscal Q2’26 ended Nov. 30, up 47% from $12.8 million a year earlier. Net sales rose 18% to $871.9 million in the same comparison.

Higher direct volumes and, to a lesser degree, higher average direct selling prices, drove the sales increase, Worthington said. However, this was partially offset by lower toll volumes as well as slightly lower average toll selling prices.

Overall volumes declined 3.7% to 901,838 short tons in fiscal Q2’26 vs. a year earlier.

Meanwhile, Worthington said toll volumes dropped 24% in its Q2’26 compared to the prior year quarter. This was primarily related to lower volumes from Worthington Samuel Coil Processing due to the closure of the toll processing manufacturing facility in Cleveland in May 2025, as well as softening demand from mill customers.

Worthington Steel President and CEO Geoff Gilmore said the company’s strategy is working.

“By staying focused on higher-value solutions, disciplined product mix, inventory management, and outstanding service, we are building a stronger, more resilient earnings profile even as markets remain mixed,” he said in a statement after market close on Wednesday.

As of Nov. 30, the company had cash and cash equivalents of $89.8 million.

Earlier this month, Worthington confirmed it was in talks to possibly take over Germany-based metals distributor and service‑center operator Klöckner & Co. SE. No further information has been provided.