Worthington Steel, Inc. - WS STOCK NEWS

Southland Holdings (NYSE: SLND) reported disappointing Q3 2024 financial results. Revenue decreased 44.5% to $173.3 million compared to $312.5 million in Q3 2023. The company recorded a gross loss of $51.1 million versus a gross profit of $29.5 million in the prior year. Net loss attributable to stockholders was $54.7 million, or $(1.14) per share, compared to net income of $3.8 million, or $0.08 per share in Q3 2023. EBITDA was negative at $(58.7) million versus $22.3 million last year. Despite poor quarterly performance, backlog remained strong at $2.74 billion, up from $2.54 billion year-over-year.

Vicarious Surgical announced its Q3 2024 financial results. Operating expenses decreased by 17% to $17.8M from $21.4M in Q3 2023. R&D expenses dropped to $10.8M from $13.0M, general and administrative expenses fell to $5.7M from $6.9M, and sales and marketing expenses decreased to $1.2M from $1.4M. The adjusted net loss was $17.0M, or $2.87 per share, compared to $20.4M, or $3.95 per share, in the same period last year. GAAP net loss was $17.1M, or $2.90 per share, versus $15.7M, or $3.04 per share, last year. The company had $60.9M in cash and investments as of September 30, 2024, with a Q3 cash burn rate of $12.4M. Full-year 2024 cash burn is expected to be approximately $50M. CEO Adam Sachs highlighted the upcoming milestone for the Version 1.0 System integration and the goal to complete the first clinical patient within a year.

Worthington Steel (NYSE: WS) has achieved the 2025 Military Friendly® Employer designation by VIQTORY, marking its 10th consecutive year receiving this recognition and first since becoming a standalone public company in December 2023. The company was selected among 308 employers from over 1,200 participating organizations.

The designation recognizes organizations demonstrating commitment to creating sustainable benefits for the military community through civilian employment opportunities. Manufacturers represented 11% of designated employers, leading the list. The evaluation process included public data sources and proprietary survey responses, focusing on recruitment, retention, turnover, and advancement of veterans and military employees.

Worthington Steel (NYSE: WS) has appointed Cliff Larivey as president of Flat-Roll Steel Processing, effective Dec. 1, 2024. Larivey, currently senior vice president of commercial and purchasing, succeeds Jeff Klingler, who will focus on global business operations and strategy execution. Larivey, 51, joined the company through the Gibraltar Strip Steel acquisition in 2010 and has been instrumental in managing customer and supplier relationships. The commercial organization will continue under the leadership of Marc Gase, Doug Kovach, Jason Miller in their respective VP roles, while Brad Kern will lead operations.

Sky Harbour Group (NYSE: SKYH) announced it will release its Third Quarter 2024 financial results after market close on Tuesday, November 12, 2024. The company will host an investor webcast at 5:00 pm ET the same day to review quarterly financial results and provide a business update. The event will include a Q&A session with management and is open to the public. The webcast will be available through the company's investor relations website, with a replay available afterward.

Southland Holdings (NYSE American: SLND) has announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The specialized infrastructure construction services provider will host a conference call to discuss the results on Wednesday, November 13th, 2024, at 10:00 a.m. Eastern Time. The call will be accessible through the company's website, and a replay will be available afterward.

Vicarious Surgical (NYSE: RBOT) has announced it will release its third quarter 2024 financial results on November 12, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time to discuss the results. Investors can join via phone by dialing +1 833-470-1428 (domestic) or +1 404-975-4839 (international) using access code 246564. A webcast will be available on the company's investor relations website.

Sky Harbour Group (NYSE: SKYH) completed the initial closing of its equity raise, issuing 3,955,790 PIPE shares of Class A Common Stock for net proceeds of $37.58 million at $9.50 per share. The raise was upsized by $5.7 million due to additional subscriptions from existing and new investors. A second closing of up to $37.58 million is scheduled for December 2024. Combined with a planned $150 million private activity debt financing, the total proceeds of approximately $240 million will support phase 1 development of 6-7 new airport campuses, adding 800,000 rentable square feet to their existing one million square feet portfolio.

Worthington Steel (NYSE: WS) has released its 2024 Corporate Citizenship and Sustainability Report, highlighting key achievements in environmental management, safety, talent development, citizenship, and corporate governance. The report, available on the company's website, marks Worthington Steel's first sustainability report as a public company.

Notable accomplishments include:

• A safety record 1.9 times better than the industry average
• 98% of generated waste diverted from landfills
• 2% decrease in Scope 1 and 2 greenhouse gas emissions intensity
• $3.0 million contributed to 73 organizations through the Worthington Companies Foundation
• 65,000 hours of employee training completed
• 17% increase in diverse supplier spending over two fiscal years

The report adheres to Global Reporting Initiative (GRI) Standards and incorporates elements from SASB and TCFD frameworks.