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Worthington Enterprises, Inc. (NYSE: WOR) is a globally recognized leader in diversified metals manufacturing. Headquartered in Columbus, Ohio, the company operates through three main business segments: Steel Processing, Consumer Products, and Building Products. Worthington Enterprises is renowned as North America’s premier value-added steel processor and a leading manufacturer of metal products.
The company's portfolio includes an extensive range of products such as propane, refrigerant, and industrial cylinders, hand torches, camping cylinders, scuba tanks, compressed natural gas storage cylinders, helium balloon kits, and tanks for the global energy market. Additionally, they produce custom-engineered cabs for heavy mobile equipment, laser-welded blanks, steel pallets, and racks. Through various joint ventures, Worthington also provides suspension grid systems for ceilings, automotive service stampings, and light gauge steel framing for construction.
With sales reaching $3.38 billion in the fiscal year of 2015, Worthington Enterprises has a strong financial foundation. The company employs approximately 10,500 people and operates 82 facilities across 11 countries, underlining its extensive global footprint.
One of Worthington's recent achievements includes the acquisition of Hexagon Ragasco, a market leader in LPG composite cylinders. This strategic move is set to enhance Worthington’s product offering and geographical reach in the cylinder market. Furthermore, Worthington acquired a 49% stake in Hexagon’s Sustainable Energy Solutions (SES) business segment, strengthening their position in the high-pressure, clean energy solutions market.
Worthington Enterprises is committed to innovation and transformation, which is evident in their products for consumer, building, and sustainable energy markets. They focus on developing solutions that enhance safety, health, and environmental sustainability. Brands such as Balloon Time®, Bernzomatic®, Coleman®, and Garden-Weasel® underscore the company's influence in various consumer markets.
Moreover, the company places a strong emphasis on corporate citizenship and sustainability, deeply engaging with local communities through volunteer efforts and the Worthington Companies Foundation. Worthington’s people-first philosophy empowers employees to innovate and thrive, ensuring continuous growth and value creation for shareholders.
The company's robust performance, strategic acquisitions, and commitment to sustainable practices make Worthington Enterprises a significant player in the metals manufacturing industry, poised for ongoing success and expansion.
Worthington Industries (NYSE: WOR) has acquired PTEC Pressure Technology GmbH, enhancing its capabilities in high-pressure hydrogen and compressed natural gas (CNG) technologies. The strategic move aligns with Worthington's commitment to sustainable mobility, expanding its product offerings and supply chain efficiencies. The acquisition adds 11 employees and a facility in Germany, supporting Worthington's goal to be a leader in the hydrogen economy, particularly in Europe. This complements its existing production lines and aims to meet rising demand for alternative fuel solutions.
The board of directors of Worthington Industries (NYSE:WOR) has declared a quarterly dividend of $0.25 per share, payable on March 29, 2021, to shareholders of record on March 15, 2021. This marks a continuous payment of quarterly dividends since the company went public in 1968, reflecting its commitment to return value to shareholders. Worthington Industries is a leading industrial manufacturer with operations across multiple sectors, including transportation and energy, and employs approximately 7,500 people worldwide.
Worthington Industries reported net sales of $731.1 million and a net loss of $74.0 million for the fiscal 2021 second quarter ended November 30, 2020, down from $827.6 million in net sales and $52.1 million in net earnings in the same quarter of the previous fiscal year. The decline was influenced by a $148.4 million pre-tax loss related to their investment in Nikola. The company reported a gross margin increase to $135.5 million but lower average selling prices in key divisions.
Despite challenges, the company remains optimistic about demand in key markets.
Worthington Industries (NYSE:WOR) is set to announce its second quarter results on Dec. 17, 2020, before the market opens. A live webcast will be hosted at 2 p.m. ET to discuss these results, which can be accessed on their website. Established in 1955, Worthington is a premier industrial manufacturing company serving various sectors including transportation and energy. With 51 facilities in 15 states and six countries, it employs around 7,500 people. The company focuses on innovative solutions and maintains a people-first philosophy.
Worthington Industries (NYSE: WOR) will have its CFO, Joe Hayek, presenting at Baird's 2020 Virtual Global Industrials Conference on Nov. 12 at 12:50 p.m. ET. The presentation will cover the company's operations, financial performance, and growth strategy. Investors can access the live webcast through the provided link or on the Worthington Industries website, with a replay available for one year.
Founded in 1955, Worthington operates 51 facilities across multiple countries, employing around 7,500 people, and is known for delivering innovative solutions in various industrial sectors.
The board of directors of Worthington Industries (NYSE: WOR) declared a quarterly dividend of $0.25 per share, payable on Dec. 29, 2020, to shareholders of record by Dec. 15, 2020. Worthington has consistently paid a quarterly dividend since becoming public in 1968. The company specializes in industrial manufacturing across multiple sectors including transportation, construction, and agriculture, and has a presence in over 90 countries. With 52 facilities and approximately 7,500 employees, Worthington aims to drive progress and shareholder value.
Worthington Industries reported net sales of $702.9 million and net earnings of $616.7 million ($11.22 per diluted share) for Q1 fiscal 2021, marking a decrease in sales compared to $855.9 million in Q1 fiscal 2020. The earnings were significantly boosted by a net pre-tax gain of $746.6 million from its investment in Nikola Corporation. While Steel Processing saw an 18% drop in net sales, operating income improved due to better spreads and lower conversion costs. Demand remains solid in several markets despite uncertainties in oil & gas.
Worthington Industries (NYSE: WOR) will release its first-quarter results on Sept. 23, 2020, before market opening. A live webcast discussing these results is scheduled for 2 p.m. ET that day, available at www.WorthingtonIndustries.com. The company, based in Columbus, Ohio, is a leading industrial manufacturer with a diverse portfolio across various sectors, including transportation and energy. Worthington operates 52 facilities globally and employs approximately 7,500 people. Founded in 1955, the company is committed to innovative solutions and shareholder value.
Worthington Industries (NYSE: WOR) announced that President Andy Rose and CFO Joe Hayek will present at the Jefferies 2020 Virtual Industrials Conference on August 5 at 8:35 a.m. ET. They will provide updates on the company's operations, financial performance, and growth strategy. Investors can access a live webcast of the event at this link or on the company’s website, where it will be available for one year. Worthington is a leading industrial manufacturer known for its innovative solutions across various industries.
Worthington Industries (NYSE: WOR) reported Q4 FY2020 net sales of $611.6 million and net earnings of $16.2 million or $0.29 per diluted share, severely impacted by COVID-19, which included $15.7 million in restructuring charges reducing EPS by $0.20. This compares to $938.8 million in sales and $37.7 million in earnings in Q4 FY2019. Gross margins fell to $89.9 million, down $36.1 million from the prior year. The company declared a dividend of $0.25 per share and announced leadership changes, with Andy Rose becoming CEO on Sept. 1, 2020.
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