---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-027063"
form_type: "8-K"
ticker: "WOR"
cik: "0000108516"
company_name: "WORTHINGTON ENTERPRISES, INC."
filed_at: "2022-12-28T23:59:59+00:00"
generated_at: "2026-06-20T22:17:55.751912+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Worthington Q2 EPS $0.33; inventory losses $53M; sees Q2 as trough

## Summary
- GAAP EPS $0.33 vs $2.15 prior year; adjusted EPS $0.44 vs $2.12; revenue $1.18B down 5%.
- Inventory holding losses of $53M ($0.81/sh) vs gains of $42M last year, a $95M unfavorable swing.
- Steel Processing posted adjusted EBIT loss of $17M vs gain of $72M; volumes down 13% YoY.
- Consumer Products EBIT $13M (8.8% margin) and Building Products EBIT $41M (29.1% margin); both impacted by customer destocking.
- Management expects moderate Q3 inventory losses, believes Q2 is trough; separation of Steel business on track for early 2024.

## SEC filing metadata
- accession: 0000950170-22-027063
- form_type: 8-K
- ticker: WOR
- cik: 0000108516
- company_name: WORTHINGTON ENTERPRISES, INC.
- filed_at: 2022-12-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/108516/000095017022027063/0000950170-22-027063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/108516/000095017022027063/wor-20221221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-027063
- JSON: https://secwatch.observer/filing/0000950170-22-027063.json
- Plain text: https://secwatch.observer/filing/0000950170-22-027063.txt

## Key facts
- Earnings Releases
  WORTHINGTON ENTERPRISES, INC. reported second quarter of fiscal 2023 (the fiscal quarter ended November 30, 2022) results: revenue $1.2 billion, net income $16,218 thousand, EPS $0.33.
  - Period: second quarter of fiscal 2023 (the fiscal quarter ended November 30, 2022)
  - Revenue: $1.2 billion
  - Net income: $16,218 thousand
  - EPS: $0.33
  - Result: reported results
  source text: holding gains of $42 million or $0.61 a share in the prior year quarter, an unfavorable swing of $95 million, which is $1.42 a share. Consolidated net sales in the quarter of $1.2 billion decreased 5% from the prior year, primarily due to the lower average selling prices in Steel Processing, combined with lower volumes, partially offset by the inclusion of Temple
  evidence_url: https://www.sec.gov/Archives/edgar/data/108516/000095017022027063/0000950170-22-027063-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.