Expectations trend
FY2028 · fiscal year ending 2028-05-31 · fmp
Worthington Steel (WS)
NYSEMaterialsSteelSnapshot 2026-11-04
$40.48+0.62%
Close 2026-11-04 · 1-day change
NYSEMaterialsSteelSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
4.87 → 4.65 EPS · FY ending May 31, 2028 · 1 analyst
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 1 to 1; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for WS yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
4 published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Achieve $150 million in annual cost and operational synergies | The company aims for $150 million in annual cost synergies. | Under Pressure | annual synergies fall below $100 million by 2027 | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2028 · fiscal year ending 2028-05-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
WS is an acquisition-led industrial business with potential to gain from Kloeckner integration and sector strength. The long-term thesis is in a watch state: the deal is completed and integration is progressing, but recent performance is below its industry cohort and the company has missed recently.
WS is expensive versus peers, with a durable premium and an expectations gap that points to less room for execution to disappoint. The evidence labels this pricing as justified and fragility as low, but that does not remove the risk tied to volatile management execution and elevated business risk.
Near term, the latest earnings miss, cautious signal, and sharp drop in company momentum point to a weak operating setup; a guidance cut on the next call would add concern. Over the multi-year view, Kloeckner has been integrated far enough to contribute substantial sales, but the stated annual synergy goal has not yet been backed by disclosed realization amounts.
The thesis hinges on management progressing integration and showing evidence that the targeted synergies are being realized. Near-term sector support depends on bellwethers such as NUE, STLD, and RS continuing to report strong results and guidance; weaker results could erode that tailwind.
Over the next 1 to 3 years, WS combines acquisition and sector opportunities with an expensive valuation, recent execution weakness, and meaningful uncertainty around synergies. The long-term thesis remains watch-stage until operating performance and integration results provide clearer support. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| Debt issuance supports acquisition financing. |
| Intact |
| default or restructuring of $700 million notes |
Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Maintain quarterly dividend at $0.16 per share | It maintains a steady dividend of $0.16 per share. | Intact | dividend falls below $0.16 per share next quarter | Dividend per share: $0.16 per share FY2027-Q1; GAAP. Published target: >=0.16 USD per share quarterly. The stored target says 2026-Q3; this source reports FY2027-Q1. Fiscal/calendar alignment needs review. Oct 13, 20260.16 USD/share · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Complete Kloeckner Acquisition with at least 62% share ownership | Worthington Steel completed the Kloeckner acquisition, expanding its market. | Intact | share ownership falls below 58.8% next quarter | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 2 of 3 supplied quarters. Management reported: “The completion of the Kloeckner transaction shortly after year-end marks the largest acquisition in our history and a defining step in building a stronger, more diversified metals processing platform.” “Completion of the Offer remains subject to receipt of certain regulatory approvals and is expected to occur in the second half of 2026.” Delivery assessment Nov 4, 2026 |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$4.87 → $4.65 · observed estimates
Unavailable → $10.81B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $4.87 | Unavailable | 1 / 0 |
| 2026-07-25 | $4.87 | Unavailable | 1 / 0 |
| 2026-07-26 | $4.87 | Unavailable | 1 / 0 |
| 2026-07-27 | $4.87 | Unavailable | 1 / 0 |
| 2026-07-28 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-07-29 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-07-30 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-07-31 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-01 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-02 | $4.87 | Unavailable | 1 / 0 |
| 2026-08-03 | $4.87 | Unavailable | 1 / 0 |
| 2026-08-04 | $4.87 | Unavailable | 1 / 0 |
| 2026-08-05 | $4.87 | Unavailable | 1 / 0 |
| 2026-08-06 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-08 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-09 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-10 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-12 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-13 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-14 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-15 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-16 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-17 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-18 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-19 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-20 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-21 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-22 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-23 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-24 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-25 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-26 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-27 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-28 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-29 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-30 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-08-31 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-01 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-02 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-03 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-04 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-05 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-06 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-07 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-08 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-09 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-10 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-11 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-12 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-13 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-14 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-15 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-16 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-17 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-18 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-19 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-20 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-21 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-22 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-23 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-24 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-25 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-26 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-27 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-28 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-29 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-09-30 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-01 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-02 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-03 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-04 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-05 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-06 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-07 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-08 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-09 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-10 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-11 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-12 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-13 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-14 | $4.87 | $10,196,745,151 | 1 / 1 |
| 2026-10-15 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-16 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-17 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-18 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-19 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-20 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-21 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-22 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-23 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-24 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-25 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-26 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-27 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-28 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-29 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-30 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-10-31 | $4.76 | $10,503,472,575 | 1 / 1 |
| 2026-11-01 | $4.65 | $10,810,200,000 | 1 / 1 |
| 2026-11-02 | $4.65 | $10,810,200,000 | 1 / 1 |
| 2026-11-03 | $4.65 | $10,810,200,000 | 1 / 1 |
| 2026-11-04 | $4.65 | $10,810,200,000 | 1 / 1 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 1 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 0 recorded
Individual price-target observations are unavailable.
0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Dec 16, 2026
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Review earnings4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.