Worthington Q3 EPS $0.94 (adj. $1.04); revenue $1.1B, down 20% YoY; steel losses $27M

WORTHINGTON ENTERPRISES, INC.

2023-Q3 EPS reported $2.57 revenue$3,687,528,000

Adjusted EBITDA $99M vs $112M YoY; trailing twelve-month adj. EBITDA $443M.
Inventory holding losses of $27M ($0.41/sh) expected to reverse in Q4 as steel prices rose $550/ton.
Consumer Products EBIT $18M (11% margin) vs $27M (16.5%) prior; volumes up 16% sequentially.
Building Products sales up 14% to $152M; EBIT $51M (33.9% margin) vs $50M (37.3%).
Separation of Steel Processing business on track for early calendar 2024; $6M separation costs in Q3.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WORTHINGTON ENTERPRISES, INC. reported third quarter of fiscal 2023 (the fiscal quarter ended February 28, 2023) results: EPS $0.94 a share.

Period: third quarter of fiscal 2023 (the fiscal quarter ended February 28, 2023)
EPS: $0.94 a share
Result: reported results

Exact text from the filing

In Q3, we reported earnings of $0.94 a share versus $1.11 in the prior year quarter.

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Source: SEC EDGAR

accession 0000950170-23-010300

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