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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 reported net sales of $1.1 billion and net earnings of $132.5 million, or $2.55 per diluted share for Q1 fiscal 2022, marking a 58% increase in sales year-over-year. The previous year’s earnings were significantly higher at $616.7 million, or $11.22 per share. Key factors included robust performance in the Steel Processing segment despite supply chain challenges. Operating income reached $135.8 million, recovering from an operating loss in the prior year quarter. The company remains cautious about ongoing semiconductor shortages and labor challenges.
Worthington Industries (NYSE:WOR) will release its first quarter results on Sept. 29, 2021, before market open. A live webcast discussing these results is scheduled for 2:30 p.m. ET the same day, available at www.WorthingtonIndustries.com. Worthington is a leading industrial manufacturing company based in Columbus, Ohio, with 53 facilities worldwide, employing around 8,000 people. It specializes in value-added steel processing and pressure cylinders for various applications. The company emphasizes a people-first philosophy, aiming to drive progress and return value to shareholders.
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.
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