Worthington Steel Widens Fourth-Quarter Loss After Accounting Error

The company identified the oversight during standard year-end internal control procedures while preparing its annual report. Management clarified that the error originated from the inadvertent exclusion of specific bridge non-revolving loan commitment costs.

Despite the downward revision, the company maintains that its business strategy, operational outlook, and financial guidance for the current year remain unchanged. The accounting correction is isolated to the fourth quarter and does not impact the results of any previous periods.