Earnings Per Common Share

3 Months Ended

Aug. 31, 2025

Note 11 – Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per common share attributable to controlling interest for the periods presented:


	Three Months Ended
	August 31,		August 31,
(In millions, except per share amounts)	2025		2024
Numerator (basic & diluted):
Net earnings	$	38.6	$	32.2
Net earnings attributable to noncontrolling interests	1.8			3.8
Net earnings attributable to Worthington Steel	$	36.8	$	28.4
Deemed dividend of redeemable noncontrolling interest		0.5		-
Net earnings attributable to Worthington Steel shareholders	$	36.3	$	28.4

Denominator:
Basic earnings weighted average common shares		49.6		49.4
Effect of dilutive securities		1.0		1.0
Diluted earnings adjusted weighted average common shares		50.6		50.4
Basic earnings per common share attributable to Worthington Steel shareholders	$	0.73	$	0.57
Diluted earnings per common share attributable to Worthington Steel shareholders	$	0.72	$	0.56

Anti-dilutive non-qualified stock options and restricted common share awards(1)		0.3		0.1

(1)

These non-qualified stock options and restricted common share awards were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.

Earnings per common share was calculated based on the weighted-average number of common shares outstanding. Earnings per diluted common share included the weighted-average effect of dilutive restricted common shares and non-qualified stock options on the weighted-average shares outstanding.

The remeasurement of the redeemable noncontrolling interest was accounted for as a deemed dividend of redeemable noncontrolling interest and recorded as an adjustment to retained earnings as well as a reduction to earnings available to common shareholders for the calculation of earnings per common share. Refer to “Note 9 – Mezzanine Equity” for additional information.