10 Best Steel Stocks to Buy According to Billionaires

8. Worthington Steel, Inc. (NYSE:WS) 

Number of Billionaire Investors: 7

Worthington Steel, Inc. (NYSE:WS) is a North American steel processor, focusing on carbon flat-rolled steel, tailor-welded blanks, and electrical steel lamination stampings. The company caters to various markets, such as the automotive, construction, heavy trucking, and energy sectors.

For Q2 ended November 30, 2024, Worthington Steel, Inc. (NYSE:WS) earned $12.8 million ($0.25 per share), compared to a $6 million loss ($0.12 per share) in the same period last year. Adjusted EBITDA increased to $30.6 million from $23 million the previous year, due to better gross margins despite reduced volumes and prices.

Yet, quarterly revenue fell 9% year-over-year to $739 million, with a 3% drop in shipments. This drop stemmed mainly from softer demand in the automotive and construction sectors. On the plus side, the company saw a reduction in inventory holding losses, improving by $21.4 million year-over-year.

Worthington Steel, Inc. (NYSE:WS) pushed its growth plan by buying a 52% stake in Sitem Group, boosting its reach in Europe’s expanding electrical steel lamination market. The company also made operational gains, reducing scrap waste and fine-tuning inventory through new analytics tools.

Looking ahead, Worthington Steel, Inc. (NYSE:WS) expects modest growth in construction, with a possible upturn later in the year. Therefore, with robust business expansion and operational improvements, Worthington Steel is well-positioned as one of the best steel stocks.