secwatch.observer — SEC 8-K summary
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Issuer:     WORTHINGTON ENTERPRISES, INC. (WOR)
CIK:        0000108516
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0001171843-22-008139
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108516/000117184322008139/0001171843-22-008139-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108516/000117184322008139/f8k_122022.htm
  HTML page:      https://secwatch.observer/filing/0001171843-22-008139

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