---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-22-008139"
form_type: "8-K"
ticker: "WOR"
cik: "0000108516"
company_name: "WORTHINGTON ENTERPRISES, INC."
filed_at: "2022-12-20T23:59:59+00:00"
generated_at: "2026-06-21T01:22:32.583401+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Worthington Q2 net earnings drop 85% to $16.2M; operating loss of $7.0M on steel price decline

## Summary
- Net earnings $16.2M ($0.33 diluted EPS) vs $110.3M ($2.15) prior year; adjusted EPS $0.44.
- Operating loss $7.0M vs operating income $90.5M prior year; inventory holding losses estimated $95.2M unfavorable swing.
- Steel Processing adj EBIT loss $17.2M, down $89.1M YoY on lower prices and volumes.
- Dividend maintained at $0.31 per share payable March 29, 2023, record March 15, 2023.
- Worthington 2024 separation on track; WSP joint venture sold Michigan facility for $21.5M, pre-tax gain $3.9M.

## SEC filing metadata
- accession: 0001171843-22-008139
- form_type: 8-K
- ticker: WOR
- cik: 0000108516
- company_name: WORTHINGTON ENTERPRISES, INC.
- filed_at: 2022-12-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/108516/000117184322008139/0001171843-22-008139-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/108516/000117184322008139/f8k_122022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-22-008139
- JSON: https://secwatch.observer/filing/0001171843-22-008139.json
- Plain text: https://secwatch.observer/filing/0001171843-22-008139.txt

## Key facts
- Earnings Releases
  WORTHINGTON ENTERPRISES, INC. reported the fiscal 2023 second quarter ended November 30, 2022 results: revenue $1.2 billion, net income $16.2 million, EPS $0.33 per diluted share.
  - Period: the fiscal 2023 second quarter ended November 30, 2022
  - Revenue: $1.2 billion
  - Net income: $16.2 million
  - EPS: $0.33 per diluted share
  - Result: reported results
  source text: Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $1.2 billion and net earnings of $16.2 million, or $0.33 per diluted share, for its fiscal 2023 second quarter ended November 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/108516/000117184322008139/0001171843-22-008139-index.htm

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