Welcome to our dedicated page for Worthington news (Ticker: WOR), a resource for investors and traders seeking the latest updates and insights on Worthington stock.
Worthington Enterprises, Inc. (NYSE: WOR) is regularly featured in corporate and financial news as a designer and manufacturer of brands and products that it describes as improving everyday life by elevating spaces and experiences. The company operates through two primary segments, Building Products and Consumer Products, and its disclosures highlight activity across both areas.
News coverage of Worthington Enterprises often centers on its financial performance and outlook. The company issues periodic earnings releases for its fiscal quarters, accompanied by conference calls and investor presentations. These updates discuss net sales, earnings, cash flow, segment performance and the use of non-GAAP measures such as adjusted EBITDA, along with commentary on factors influencing Building Products and Consumer Products.
Another recurring theme in WOR news is corporate development activity. Worthington Enterprises has announced acquisitions aligned with its Building Products segment, including Elgen Manufacturing, which designs and manufactures HVAC parts, components, ductwork and structural framing for commercial buildings, and an agreement to acquire LSI Group, a manufacturer of standing seam metal roof clips and retrofit components for commercial metal roofs. Such announcements provide insight into how the company expands its presence in the building envelope, commercial HVAC and roofing-related markets.
Investors and followers of WOR can also find updates on dividends, board appointments and participation in investor conferences. The company reports that it has paid a quarterly dividend since its initial public offering in 1968, and its news releases describe ongoing quarterly dividend declarations. Additional items include scheduling notices for earnings calls, participation in events such as the Baird Global Industrial Conference, the Canaccord Genuity Growth Conference and the CJS Securities New Ideas for the New Year conference, and commentary from management on strategy, the Worthington Business System and long-term shareholder value.
For those tracking WOR, the news flow provides a view into segment trends, acquisition activity, capital allocation decisions such as share repurchases and dividends, and the company’s communication with the investment community.
Worthington Industries (NYSE:WOR) plans to disclose its third quarter results on March 22, 2022, after market closure. A live webcast discussing these results will occur on March 23, 2022, at 8:30 a.m. ET. Interested parties can access the webcast on Worthington's website where it will be archived for one year.
Worthington is a leading manufacturing company serving diverse industries.
The board of directors of Worthington Industries (NYSE:WOR) has declared a quarterly dividend of $0.28 per share, payable on March 29, 2022, to shareholders of record on March 15, 2022. Worthington has consistently paid quarterly dividends since becoming public in 1968. The company, based in Columbus, Ohio, operates 58 facilities across 16 states and nine countries, focusing on industrial manufacturing across various sectors including automotive and energy.
Worthington Industries reported robust fiscal Q2 2022 results with net sales of $1.2 billion and net earnings of $110.3 million, or $2.15 per diluted share, marking a substantial recovery from a net loss of $74.0 million in Q2 2021. The growth of 69% in revenue was driven by the Steel Processing segment, benefiting from inventory holding gains. The company completed the acquisition of Tempel Steel for approximately $255 million, enhancing its position in the electrical steel market. Outlook remains optimistic with expectations for continued healthy demand.
Worthington Industries, Inc. (NYSE: WOR) has completed its acquisition of Tempel Steel Company for approximately $255 million. Tempel is a global leader in manufacturing precision laminations for the electrical steel market, including applications in transformers and electric vehicles. The acquisition adds five manufacturing facilities across Canada, China, India, Mexico, and the U.S., expanding Worthington's workforce by 1,500 employees. This move positions Worthington as a leader in the growing electrical steel market, addressing the demand for hybrids and electric vehicles.
Worthington Industries (NYSE:WOR) will announce its second quarter results on Dec. 16, 2021, before market opening. A live webcast discussion is scheduled for 2 p.m. ET the same day, available on the company’s website and archived for a year. Worthington, established in 1955 and headquartered in Columbus, Ohio, operates 53 facilities across 15 states and seven countries, employing about 8,000 people. The company focuses on innovation in various sectors, including automotive, energy, and consumer products.
Worthington Industries (NYSE: WOR) has launched innovative tools and outdoor living products, set to hit retail stores nationwide for the holiday season. Highlights include the Bernzomatic Digital Fuel Gauge, recognized as a Popular Mechanics Shop Tool Awards 2021 Winner, and the General Tools ANGLE-IZER Locking Contour Gauge, designed for precise shape duplication. These products aim to enhance user experience and reflect the company's focus on consumer insights and innovation.
Worthington Industries (NYSE: WOR) announced that Joe Hayek, Vice President and CFO, will present at Baird’s 2021 Virtual Global Industrial Conference on Nov. 11 at 9:05 a.m. ET. He will discuss the company’s operations, financial performance, and growth strategy. A live webcast will be available on the Worthington Industries website and can be replayed for up to one year.
Additionally, the company is hosting a Virtual Investor & Analyst Day on Nov. 10 at 9:30 a.m. ET.
Worthington Industries (NYSE:WOR) announced the acquisition of Tempel Steel Company for approximately $255 million, plus liabilities. This acquisition positions Worthington as a leader in the electrical steel market, essential for transformers and electric vehicle (EV) motors. Tempel has five manufacturing facilities worldwide and generated net revenue of $377 million and EBITDA of $35 million over the past year. The deal is projected to close in December 2021, enhancing Worthington's automotive and electricity infrastructure offerings as EV adoption grows.
Worthington Industries (NYSE: WOR) will host a Virtual Investor & Analyst Day on Nov. 10, 2021, starting at 9:30 a.m. ET. This event will include presentations from the company's executive management about its new reporting segments: Consumer Products, Building Products, and Sustainable Energy Solutions. The session will last approximately two hours and will conclude with a Q&A segment. Interested investors can register for the event and access the webcast on the Investor Relations website.
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