Q4 2025 Worthington Steel Inc Earnings Call Transcript
Key Points
- Worthington Steel Inc (WS) reported an increase in adjusted EBITDA to $87 million, up from $86.5 million in the prior year quarter.
- The company gained market share in the automotive sector, with shipments to the automotive market up 5% compared to the prior year quarter.
- WS successfully closed the acquisition of a 52% ownership stake in Sitem, enhancing its position in the European electric motor lamination market.
- The company was named a 2024 Supplier of the Year by General Motors and recognized as a Partner-level supplier in the John Deere Achieving Excellence Program.
- WS is making strategic progress in its long-term strategy, focusing on investments in the electrical steel market and expanding production capabilities in Mexico and Canada.
- The construction markets served by WS, including fencing, culvert, and metal buildings, experienced a slight year-over-year decline.
- The agricultural market continues to face pressure, with ag volumes down 40% compared to the prior year quarter.
- Toll processing volumes decreased by 11% year-over-year due to slowness in automotive tolling programs and the wind down of a facility.
- Gross margin was $4 million lower than the prior year quarter, primarily due to unfavorable tolling margins.
- Net sales in the quarter were down 9% from the prior year quarter, primarily due to lower direct selling prices and lower toll volumes.
Good morning and welcome to Worthington Stee's fourth-quarter 2025 earnings call. (Operator Instructions) I will now turn the call over to Melissa Dykstra, Vice President of Corporate Communications and Investor Relations. Please go ahead.
Thank you, operator. Good morning and welcome to Worthington Steel's fourth-quarter fiscal year 2025 earnings fall. On our call today, we have Geoff Gilmore, Worthington Steel's President and Chief Executive Officer; and Tim Adams, Vice President and Chief Financial Officer.
Before we begin, I'd like to remind everyone that certain statements made today are forward-looking within the meaning of the 1995 Private Securities Litigation Reform Act. These statements are subject to risks and uncertainties that could cause actual results to differ from those suggested. We issued our earnings release yesterday after the market closed. Please refer to it for more detail on the factors that could cause actual results to
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