The Read
5% pre-Q3 earnings despite an EPS miss and volume decline causing a post-report gap down but eventual recovery.
The schedule
- Tue20Oct
Worthington outlines forward capital expenditures from a $38.50 base following recent M&A and current free cash flow deficits.
- Wed3Feb
Fiscal first-quarter results from a $34.50 base detailing the full integration of acquired assets and realized tariff benefits.
- Sun18Apr
Past
- Tue15Sep
Anticipated announcements from President Trump's administration regarding domestic steel protections and import tariffs, pivoting off current base price of $35.81.
- Sun31May
Actual outcome: Bull · $41.52 at outcome
Despite a slight 2.7% dip between the event and outcome dates, Worthington Steel remained above the bull target following the completion of its Kloeckner & Co acquisition and the announcement of a delisting tender offer. While the Q4 earnings call was scheduled for late June, the company reported EPS of $0.22 that matched estimates. The successful pricing of a $700 million senior secured notes offering and the closing of the strategic acquisition provided strong fundamental support, keeping shares above the $41.50 level.
Q4 2026 results and the first look at FY 2027 guidance will be the market's next read on whether Worthington Steel can stabilize margins after the weak February quarter. At a base price of $37.74, a clean beat and constructive volume outlook could push the stock toward $41.50, while another margin-driven miss or soft guidance could send shares back toward $41.50 as investors reassess cyclical earnings power.
- Wed18Mar
Actual outcome: Bull · $35.01 at outcome
Worthington Steel shares rallied 10.5% heading into its Q3 2026 earnings print, reaching the bull target by the outcome date. While the actual earnings report released after hours on March 25 revealed an EPS miss of $0.27 versus the $0.47 estimate due to falling volumes and rising costs—triggering a gap down the following day—the strong pre-earnings momentum and the stock's subsequent recovery to over $40 drove the overall bullish outcome.
- Thu15Jan
Actual outcome: Mixed · $39.50 at outcome
Worthington Steel reported Q2 2026 EPS of $0.38, exactly matching consensus estimates. The stock experienced a muted 1.9% gain as the company demonstrated sufficient pricing power to navigate rising raw material costs and margin pressures, but lacked any significant upside catalysts to drive a definitive breakout.
Worthington Steel's upcoming Q2 2026 earnings print faces heavy scrutiny over margin compression and rising raw material costs, aiming to assess if pricing power can offset recent volume declines.
