Shares of Worthington Steel Inc (WS) are soaring more than 20% in pre-market trading on Thursday, following the company's impressive fiscal fourth-quarter earnings report released late Wednesday. The steel manufacturer's results exceeded analyst expectations, particularly in terms of revenue, sparking significant investor optimism.

Worthington Steel reported fiscal Q4 revenue of $832.9 million, surpassing the FactSet analyst consensus of $800.5 million. While this figure represents a decline from $911 million in the same quarter last year, it still managed to outperform market forecasts. The company's adjusted earnings per share came in at $1.05, slightly down from $1.06 in the year-ago period but still impressive given the challenging economic environment.

Adding to investor confidence, Worthington Steel demonstrated its financial stability by maintaining its quarterly dividend at $0.16 per share, payable on September 26 to shareholders of record as of September 12. This decision to sustain the dividend payout amid declining revenues has further bolstered faith in the company's financial health and future prospects. As the market digests these results, traders will be watching closely to see if this pre-market surge translates into sustained gains during the regular trading session.