Related Party Transactions

9 Months Ended

Feb. 28, 2026

Related Party Transactions [Abstract]

Related Party Transactions

Note 16 – Related Party Transactions

Subsequent to the Separation, transactions between the Former Parent and the Company are considered related party transactions, including those subject to agreements entered into with the Former Parent. The material related party transactions have been disclosed below.

Transactions with the Former Parent

The majority of the Company’s net sales to the Former Parent are subject to the Steel Supply and Services Agreement and are included within net sales in the consolidated statements of earnings. Net sales to the Former Parent were $19.0 million and $16.5 million for the three months ended February 28, 2026, and February 28, 2025, respectively, and $56.1 million and $47.3 million for the nine months ended February 28, 2026 and February 28, 2025, respectively.

As of February 28, 2026 and May 31, 2025, the outstanding accounts receivable balance with the Former Parent equaled $10.7 million and $9.2 million, respectively, as a result of the net sales to the Former Parent described above.