Worthington Stock Price, News & Analysis

Worthington Industries (NYSE: WOR) has announced that Joe Hayek, the Vice President and CFO, will present at the Jefferies Virtual Industrials Conference on August 3 at 11 a.m. ET. He will offer insights into the Company’s operations, financial performance, and growth strategy. A live webcast of the presentation can be accessed via the Company’s website and will be available for replay for 30 days afterwards. Worthington is a leading industrial manufacturer in North America, specializing in value-added steel processing and pressure cylinders, operating 53 facilities across 15 states and seven countries.

Worthington Industries (NYSE:WOR) was honored as a GM Supplier of the Year, marking its first recognition in this prestigious category during a challenging year for global supply chains. The award, given to 122 suppliers globally, underscores Worthington's commitment to quality and innovation in supplying hot-rolled steel coils for GM vehicles across North America. The accolade reflects a strong partnership with GM, emphasizing shared goals in sustainability and customer service excellence.

Worthington Industries, Inc. (NYSE: WOR) reported significant financial gains for Q4 2021, with net sales of $978.3 million and net earnings of $113.6 million ($2.15 per diluted share). This marks a 60% increase in net sales compared to Q4 2020. Total annual net earnings reached $723.8 million, a significant rise from $78.8 million the previous year. The company benefitted from improved demand and rising steel prices, despite some restructuring charges. Looking forward, the company is optimistic about demand and recent acquisitions driving growth.

The board of directors of Worthington Industries (NYSE:WOR) has declared a quarterly dividend of $0.28 per share. This dividend will be payable on September 29, 2021, to shareholders who hold shares as of September 15, 2021. Worthington has consistently paid dividends since becoming a public company in 1968, showcasing its commitment to returning value to shareholders.

Worthington Industries specializes in industrial manufacturing across various sectors, including transportation and energy, and operates over 53 facilities globally.

Worthington Industries (NYSE:WOR) announced a reorganization of its Pressure Cylinders segment into three new reporting segments: Consumer Products, Building Products, and Sustainable Energy Solutions, effective June 1, 2021. This strategic move aims to enhance earnings growth and improve operational focus. The new segments will enable targeted capital allocation and increased transparency for investors. Leadership roles have been reassigned to align with the new structure, with financial results to be reported under this new segmentation starting in Q1 FY2022.

Worthington Industries (NYSE:WOR) has acquired certain assets of Shiloh Industries' U.S. BlankLight® business for approximately $105 million. This acquisition, which adds three facilities and around 200 employees, enhances Worthington's laser welded products joint venture, TWB Company, LLC. The assets generated $170.5 million in net revenue and $20.5 million in adjusted EBITDA in 2020. The deal supports growth in tailor-welded blanks and strengthens relationships with key automotive customers.

Worthington Industries (NYSE:WOR) is set to release its fourth quarter results on June 24, 2021, before the market opens. A live webcast discussion will occur at 9:30 a.m. ET on the same day, which will also be archived for a year. Worthington, a leader in industrial manufacturing, offers solutions across various sectors, including transportation and energy. With a workforce of about 8,000 people and operations in 15 states and seven countries, the company focuses on innovation, customer satisfaction, and shareholder value.

Worthington Industries (NYSE: WOR) announced that CFO Joe Hayek will present at KeyBanc’s Industrials & Basic Materials Conference on June 1 at 9:20 a.m. ET. The presentation aims to provide insights into the Company's operations, financial performance, and growth strategy. Investors can access a live webcast of the event via this link or through the Company’s website, where it will be available for replay for one year.

The U.S. International Trade Commission (ITC) has determined that unfair imports of DOT-39 non-refillable steel cylinders from China have materially harmed Worthington Industries. This decision is crucial for restoring fair market conditions, ensuring the company can continue manufacturing these essential products in the U.S. The ITC's finding will lead to antidumping and countervailing duties ranging from 82% to 288% on these imports, expected to be published by the U.S. Department of Commerce in early May.