Worthington Steel, Inc. 8-K

What Happened

• Worthington Steel, Inc. filed an 8‑K on June 25, 2026 reporting results for the three months ended May 31, 2026 (fourth quarter of fiscal 2026). The company issued a corrected news release (June 24, 2026) to fix a duplicated footnote in a non‑GAAP reconciliation — footnote (2) now correctly states it “Excludes the noncontrolling interest portion of restructuring and other (income) expense, net of $0.7 million in the fiscal 2025 period.” Worthington also posted an investor presentation and scheduled a conference call for June 25, 2026 at 8:30 a.m. ET to discuss results and FY2027 outlook.

Key Details

• Correction: Non‑GAAP reconciliation footnote (2) amended to reflect $0.7 million noncontrolling interest exclusion for fiscal 2025.
• Executive change: Corporate Controller and Principal Accounting Officer Steven R. Witt retired effective June 23, 2026; Gwen Joseph (age 45) appointed effective June 23, 2026.
• Compensation for new Controller: annual base salary $255,000; target cash incentive 50% of base salary; equity award with grant‑date value $200,000 under the 2023 Long‑Term Incentive Plan.
• Dividend: Board declared a quarterly cash dividend of $0.16 per common share on June 24, 2026, payable Sept 29, 2026 to holders of record as of Sept 15, 2026.

Why It Matters

• Investors should note the corrected non‑GAAP disclosure (ensuring reconciliations are accurate) and the immediate change in the company’s accounting leadership, which is material for financial reporting and controls. The declared $0.16 quarterly dividend is a direct return to shareholders and sets the cash payout schedule. The company’s earnings release, investor presentation and the scheduled call provide the full quarterly metrics and outlook that investors will use to assess near‑term performance.