Worthington Steel, Inc. - WS STOCK NEWS

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.

Southland Holdings (NYSE American: SLND) has announced the closing of a new $160 million senior secured term loan facility with Callodine Commercial Finance, The facility includes a $140 million initial draw term loan and a $20 million committed delayed draw term loan, both due in 2028. From the initial $140 million, $96 million was used to refinance existing debt, $37.8 million will be available for general corporate purposes, and the remainder covers transaction costs.

The new facility replaces Southland's previous revolving credit facility and certain equipment notes. CEO Frank Renda stated that this move strengthens Southland's balance sheet and provides financial flexibility for executing their plan and pursuing opportunities in core markets. Texas Capital Securities served as the exclusive financial advisor for the transaction.

Southland Holdings, Inc. (NYSE American: SLND) announced that its joint venture, Red River Biosolids Partners General Partnership, has executed a contract with the City of Winnipeg for the North End Sewage Treatment Plant Biosolids Facilities Upgrade project. The joint venture includes Southland's subsidiary, Oscar Renda Contracting of Canada Inc., Aecon Group Inc. (TSX: ARE), and MWH Constructors Canada

The project begins with a development phase contract valued at approximately $70 million USD, of which Southland holds a 33.3% share. This will be added to Southland's backlog in Q3 2024. The scope includes designing and constructing a new biosolids facility and modifying existing primary clarification. The North End Sewage Treatment Plant provides 70% of Winnipeg's wastewater treatment capacity.

Worthington Steel (NYSE: WS) has implemented a Dividend Reinvestment Plan (DRIP), effective Sept. 13, 2024. The optional DRIP allows eligible shareholders to automatically reinvest all or part of their cash dividends into additional common shares. Key benefits include:

• Convenience of automatic dividend reinvestment
• Flexibility to reinvest all or a portion of dividends

Reinvestment Shares will be acquired through the open market. Registered shareholders can enroll online or by contacting Broadridge Shareholder Services at 844-917-0956. Beneficial shareholders should contact their financial intermediaries for enrollment details. Participants may incur fees for termination, withdrawal, or disposition of Reinvestment Shares. The DRIP does not affect tax obligations on reinvested dividends.

Worthington Steel (NYSE: WS) reported its fiscal 2025 first quarter results, ending August 31, 2024. Key highlights include:

- Net sales decreased 8% to $834.0 million from $905.8 million in Q1 2024
- Operating income fell to $43.4 million from $69.7 million
- Net earnings per diluted share dropped to $0.56 from $1.19
- Adjusted EBIT decreased to $39.4 million from $80.5 million
- Declared a quarterly dividend of $0.16 per share

The company faced headwinds but maintained stable demand. The decrease in performance was primarily due to lower direct spreads, reduced volume, and an unfavorable change in inventory holding. Despite challenges, Worthington Steel continues to focus on delivering value-added solutions for customers in metal transformation, lightweighting, and electrification support.

Worthington Steel (NYSE: WS) has declared a quarterly dividend of $0.16 per common share, payable on Dec. 27, 2024, to shareholders of record Dec. 13, 2024. The company will host a conference call to discuss its fiscal 2025 first quarter results on Thursday, Sept. 26, 2024, at 8:30 a.m. ET. Investors can access the live webcast on the Investor Relations section of the company's website, which will be archived for one year. For those preferring a phone call, a toll-free dial-in number is provided. To receive automatic financial news updates, interested parties can subscribe to email alerts on the company's investor relations website.

Southland Holdings (NYSE American: SLND) has announced that its subsidiary, Oscar Renda Contracting, has been awarded a $132 million contract by the Bureau of Reclamation. The project involves constructing a new water treatment plant, including a storage facility and site improvements. The scope also includes demolition of existing structures. Southland secured this contract based on offering the best value to their long-standing client. This significant award will be included in the company's third quarter 2024 backlog.