Worthington Steel(US:WS)2025-09-25 12:30Financial Performance - Worthington Steel's net sales for the trailing twelve months (TTM) were $3.132 billion[70, 104] - The adjusted EBITDA for the TTM period was $235 million, with a margin of 7.5%[11, 71, 104] - Free cash flow for the TTM period was $32.4 million[11, 104] - Capital expenditures for the TTM period were $138.3 million, representing 4.4% of sales[11] Market Position and Strategy - The company delivered 3.7 million tons of steel in the TTM period, with 2.2 million tons direct and 1.5 million tons toll[11] - Automotive accounts for 53% of net sales, followed by Construction at 11%[13, 34] - The company is targeting a 10%+ adjusted EBITDA margin through various strategies[76, 77] - The company has a strong balance sheet with net leverage at 0.66x and total liquidity of $355 million[88] Growth Initiatives - The company is investing $85 million in Mexico to increase motor lamination capacity for xEV demand, targeting production start in early CY 2026[55, 59] - The company is investing $85 million in Canada to increase transformer core making capacity, targeting production start in early CY 2026[56, 59] - The company acquired a 52% ownership in Sitem Group to strengthen its electrical steel business globally[62, 66]