secwatch.observer — SEC 8-K summary
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Issuer:     WORTHINGTON ENTERPRISES, INC. (WOR)
CIK:        0000108516
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0000950170-23-010300
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108516/000095017023010300/0000950170-23-010300-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108516/000095017023010300/wor-20230323.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-010300

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer