Worthington Industries

Worthington Industries, Inc. engages in processing of value-added steel and manufacturing of metal products. It operates through the following segments: Steel Processing and Pressure Cylinders. The Steel Processing segment consists of Worthington Steel business unit and consolidated joint ventures, which operates steel business and its prices. The Pressure Cylinders segment consists of the Worthington Cylinders business unit, which manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, well water and expansion tanks, and oil & gas equipment along with accessories and related products for diversified end-use market applications. The company was founded by John H. McConnell in 1955 and is headquartered in Columbus, OH.

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Worthington Industries reports record earnings, plans separation into growth companies

Worthington Industries reported strong earnings and record quarterly earnings despite a decrease in net sales. The company is focused on fortifying its balance sheet for the planned separation into two distinct growth companies and aims to capitalize on opportunities through high liquidity and low leverage. However, the uncertainty surrounding free cash flow investment and the need to rebuild models post-segment change present challenges.

Worthington Industries reports mixed Q1 results, progresses with business separation

Worthington Industries reported mixed Q1 results, with decreased net sales but improved gross profit and margin in Steel Processing. The company is progressing with the planned separation of its Steel Processing business and has scheduled an Investor Day for potential strategic updates. Challenges include decreased net sales in certain segments and an adjusted EBIT loss in Sustainable Energy Solutions, while opportunities lie in the potential for growth in Steel Processing and insights from the upcoming Investor Day.

Worthington Industries reports mixed Q3 results, eyes strategic separation

Worthington Industries showcased mixed financial performance with a focus on operational resilience and strategic separation into growth entities.
Challenges include monitoring steel prices, navigating economic uncertainties, and ensuring a smooth transition post-separation.
Opportunities lie in anticipated volume growth, improved working capital from higher steel prices, and strategic moves post-separation.
Overall, the company remains focused on financial stability, operational efficiency, and capitalizing on market opportunities for future growth.

Worthington Industries reports robust Q4 earnings amidst strategic transformations

Worthington Industries delivered strong financial performance in Q4 2023, marked by significant earnings growth and record profits.
While facing challenges in Steel Processing, the company maintains strong liquidity, operational stability, and a commitment to shareholder value.
Strategic opportunities lie in market expansion, innovation, and the upcoming separation into two companies, positioning Worthington for future success.
Overall, Worthington Industries' Q4 performance reflects resilience, adaptability, and a strategic focus on long-term growth and profitability.

Worthington Industries reports robust Q1 earnings amidst segment challenges

Worthington Industries delivered strong financial performance in Q1 2024, driven by improved earnings per share, net sales, and operational efficiency.
While facing challenges in certain segments, the company's strategic initiatives like planned separation and dividend declaration reflect a commitment to long-term value creation.
To capitalize on opportunities, Worthington should address segment-specific issues, explore new growth avenues, and maintain a focus on cost management and innovation.
Overall, Worthington's performance highlights resilience, strategic planning, and a proactive approach to navigating market dynamics and delivering shareholder value.

Worthington Industries reports Q2 earnings growth amidst segment challenges

Worthington Industries delivered improved earnings per share and strong cash flow in Q2 2024 despite revenue challenges in certain segments.
The company's strategic vision to focus on growth areas and maintain financial strength through disciplined approaches positions it well for future opportunities.
Addressing operational challenges in segments like Sustainable Energy Solutions will be crucial for sustained profitability and overall performance.

Worthington Industries reports mixed Q3 results, eyes growth opportunities

Worthington Industries' Q3 performance reflects mixed results with challenges in certain segments but strengths in brand portfolio and balance sheet.
The company's focus on innovation, acquisitions, and cash flow management positions it for future growth opportunities.
Despite facing market pressures, Worthington remains resilient with a strategic approach to drive profitability and shareholder value.
Investors can expect continued dividend payouts and potential growth catalysts from product innovation and market expansion.

Worthington Q4: Strategic Acquisitions Amidst Financial Challenges

Worthington Industries' Q4 2024 reflects a period of strategic positioning despite financial setbacks. The company's focus on sustainable energy solutions and innovative products is poised to drive future growth, supported by a strong balance sheet with low net debt to EBITDA ratio.

Worthington Industries reports solid Q1 performance amidst strategic initiatives

Worthington Industries navigated challenges in Q1 2025 while demonstrating resilience and strategic focus on growth opportunities.
The company's strong corporate culture, commitment to sustainability, and focus on innovation position it well for future success.
Despite headwinds in certain business segments, Worthington's strategic initiatives and acquisitions lay a foundation for long-term value creation.

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Worthington Enterprises, Inc. engages in the manufacturing of metal products. It operates through the Consumer Products and Building Products segments. The Consumer Products segment consists of products in the tools, outdoor living, and celebrations end markets with owned and licensed brands. The Building Products segment provides pressurized containment solutions, ceiling suspension systems, and light gauge metal framing products. The company was founded by John H. McConnell in 1955 and is headquartered in Columbus, OH.

Worthington (WOR) is expanding its Tempel Steel facility in Mexico to meet the growing demand for electric vehicle components.

Worthington (WOR) Expands Mexican Facility to Meet EV Demand

COLUMBUS, Ohio, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc., (NYSE: WOR), a leading industrial manufacturing company, today announced the expansion of its Tempel Steel facility in Apodaca, Mexico, which is operated by Worthington's Steel Processing business segment.

Worthington Industries to Expand Capacity for Motor and Transformer Laminations at its Tempel Mexico Facility

COLUMBUS, Ohio, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR), a leading industrial manufacturing company, today announced the public filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission in connection with its planned separation of the Company's Steel Processing business, Worthington Steel. Andy Rose, president and CEO, Worthington Industries, and future chief executive officer of Worthington Enterprises, said, “The public filing of the Form 10 represents an important milestone in creating two distinct, market-leading companies focused on driving shareholder value.

Worthington Industries Announces Public Filing of Form 10 Registration Statement

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Easing supply-chain issues and solid end-market demand should aid the Metal Products - Procurement and Fabrication industry's growth. SKFRY, ESAB and WOR are some stocks to watch, backed by their healthy growth prospects.

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Worthington Industries, Inc. (NYSE:WOR ) Q1 2024 Results Earnings Conference Call September 28, 2023 9:00 AM ET Company Participants Marcus Rogier - Treasurer and Investor Relations Officer Joseph Hayek - Vice President and Chief Financial Officer Tim Adams - Vice President and Chief Financial Officer, Steel Processing Business Andy Rose - President and Chief Executive Officer Conference Call Participants Katja Jancic - BMO Capital Markets Martin Englert - Seaport Research Partners Phil Gibbs - KeyBanc Capital Markets John Tumazos - John Tumazos Very Independent Research, LLC Operator G, And welcome to the Worthington Industries' First Quarter Fiscal 2024 Earnings Conference Call. All participants will be able to listen-only until the question-and-answer session of the call.

Worthington Industries, Inc. (WOR) Q1 2024 Earnings Call Transcript

Worthington posted a decline in revenue, but profits still rose in the quarter. The company didn't give guidance, but the business is scheduled to split in two in early December.

Why Worthington Industries Stock Was Falling Today

Worthington Industries (WOR) came out with quarterly earnings of $2.06 per share, beating the Zacks Consensus Estimate of $1.99 per share. This compares to earnings of $1.61 per share a year ago.

Worthington Industries (WOR) Q1 Earnings Surpass Estimates

COLUMBUS, Ohio, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $1.2 billion and net earnings attributable to controlling interest of $96.1 million, or $1.93 per diluted share, for its fiscal 2024 first quarter ended August 31, 2023. In the first quarter of fiscal 2023, the Company reported net sales of $1.4 billion and net earnings attributable to controlling interest of $64.1 million, or $1.30 per diluted share. Results in both the current year quarter and the prior year quarter were impacted by certain items, as summarized in the table below.

Worthington Industries Reports First Quarter Fiscal 2024 Results

COLUMBUS, Ohio, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) today announced that John Blystone, the Company's long-time Lead Independent Director has been named Executive Chairman. Blystone's appointment completes a planned succession with Executive Chairman John P. McConnell, who will now retire. The board also declared a quarterly dividend of $0.32 per share. The dividend is payable on December 15, 2023, to shareholders of record on November 15, 2023.

Worthington Industries Completes Board of Directors Transition and Declares Quarterly Dividend

COLUMBUS, Ohio, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR), a leading industrial manufacturing company, today announced the names and branding for the two companies resulting from the planned separation.

Worthington Industries Reveals New Company Identities Ahead of Anticipated December Separation; Announces 2023 Investor and Analyst Day

Key initiatives and related performance in areas such as environmental footprint & innovation, workforce development, corporate citizenship & governance.

Worthington Industries Releases 2023 Corporate Citizenship and Sustainability Report

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The article provides insights on upcoming dividend increases, indicating strong business performance and commitment to rewarding shareholders. The list includes companies with at least five years of consistent dividend growth and higher total dividends paid out each year. The article also includes tables and metrics to help investors prioritize stocks based on yield, growth rates, and historical returns.

14 Upcoming Dividend Increases

NEW YORK , Sept. 7, 2023 /PRNewswire/ -- Worthington Industries (NYSE: WOR) is a multi-billion dollar steel processing company with a history of living by the Golden Rule, and its recent asset disposition partnership with Radiowell – America's largest wholesaler of used two-way radios – will support under-funded volunteer fire departments.

Worthington Industries Supports Volunteer Fire Fighters with Surplus Two-Way Radios

COLUMBUS, Ohio, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE:WOR) will hold its quarterly earnings conference call on Thursday, September 28, 2023 at 9:00 a.m. ET. The Company will discuss its fiscal first quarter results, which will be released after the market closes on September 27. A live audio webcast of the call will be available at www.WorthingtonIndustries.com .

Worthington Industries to Host First Quarter 2024 Earnings Conference Call on September 28

Worthington Industries Inc reported strong Q4 2023 results with net earnings YoY up significantly, reaching $129 million and an EPS of $2.61. The company is expected to benefit from the return of manufacturing to the US and the Bipartisan Infrastructure Bill, which will increase demand for steel. Despite risks such as commodity price fluctuations, the company's long-term outlook is positive, with plans to separate its steel processing segment and a strong balance sheet.

Worthington Industries: Still A Fantastic Steel Play As Infrastructure Investments Increase

COLUMBUS, Ohio, July 20, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc., (NYSE: WOR), a leading industrial manufacturing company, today announced its Tempel Steel business, which manufactures high precision electrical steel laminations for motors and transformer cores used in electric vehicles (EV), charging stations, internal combustion engines, industrial equipment, and energy solutions, has earned a prestigious Global Supplier Award from Dana Incorporated (NYSE: DAN) as the top global supplier of the year for their Lead Electric Propulsion category. A global leader in drivetrain and e-propulsion systems, Dana annually honors select partners who demonstrate excellence in supporting Dana's cost, quality, and delivery goals, as well as its “Powering into e-Drive” enterprise strategy.

Worthington Industries Electrical Steel Lamination Business, Tempel Steel, Earns Dana's Global Supplier Award in “Lead Electric Propulsion” Category

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Investors may keep a tab on stocks like LNN, OZK, PNC and WOR, which have lately hiked their dividend payments.

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If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Worthington (WOR) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.

Fast-paced Momentum Stock Worthington (WOR) Is Still Trading at a Bargain

The decline in Worthington's (WOR) Q4 sales is primarily due to lower average selling prices in the Steel Processing division.

Worthington (WOR) Q4 Earnings Surpass Estimates, Revenues Lag

Worthington Industries, Inc. (NYSE:WOR ) Q4 2023 Earnings Conference Call June 29, 2023 9:00 AM ET Company Participants Marcus Rogier - Treasurer and IRO Joe Hayek - CFO Tim Adams - CFO, Steel Processing Business Andy Rose - President and CEO Conference Call Participants Katja Jancic - BMO Capital Markets Martin Englert - Seaport Research Partners Phil Gibbs - Keybanc Capital Markets John Tumazos - John Tumazos Very Independent Research, LLC Operator Hello and welcome to the Worthington Industries' Fourth Quarter Fiscal 2023 Earnings Conference Call. All participants will be able to listen-only until the question-and-answer session of the call.

Worthington Industries, Inc. (WOR) Q4 2023 Earnings Call Transcript

COLUMBUS, Ohio, June 28, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $1.2 billion and net earnings of $129.9 million, or $2.61 per diluted share, for its fiscal 2023 fourth quarter ended May 31, 2023. In the fourth quarter of fiscal 2022, the Company reported net sales of $1.5 billion and net earnings of $80.3 million, or $1.61 per diluted share. Results in both the current and prior year quarter were impacted by certain unique items, as summarized in the table below.

Worthington Reports Fourth Quarter Fiscal 2023 Results

COLUMBUS, Ohio, June 28, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) has declared a quarterly dividend of $0.32 per share, an increase of $0.01 per share or 3% from the prior quarter. The dividend is payable on September 29, 2023, to shareholders of record on September 15, 2023. Worthington has paid a quarterly dividend since it became a public company in 1968 and this marks the 13th consecutive year the Company has increased its dividend.

Worthington Industries Declares Quarterly Dividend

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Schnitzer Steel and Worthington Industries report earnings as steel futures have dropped 20% since year-to-date highs.

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COLUMBUS, Ohio, June 20, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR) announced today that the D.C. Circuit Court of Appeals supported Worthington's position in concluding that the U.S. Environmental Protection Agency's (EPA) 2021 ban of non-refillable refrigerant cylinders is invalid because the EPA overstepped its authority granted by Congress.

D.C. Circuit Court Agrees with Worthington Industries: Concludes the U.S. Environmental Protection Agency's (EPA) Ban of Non-Refillable Cylinders is Illegal

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