Worthington Q4 GAAP EPS $2.61, adjusted $2.74; dividend raised 3% to $0.32

WORTHINGTON ENTERPRISES, INC.

2023-FY EPS reported $5.19 revenue$4,916,392,000

Net earnings of $129.9M ($2.61 diluted EPS) vs $80.3M ($1.61) a year ago; adjusted EPS $2.74 vs $1.58.
Net sales of $1.23B, down 19% YoY, due to lower steel prices and slightly lower volumes.
Quarterly dividend increased to $0.32 per share, payable Sept 29, 2023, marking 13th consecutive year of increase.
Director Peter Karmanos retiring after annual meeting; John McConnell defers retirement to stay through steel processing separation.
Separation of Steel Processing (Worthington 2024) remains on track for early 2024.

item 2.02 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Peter Karmanos, Jr.

Director

WOR · WORTHINGTON ENTERPRISES, INC.

Filed: June 28, 2023, 7:59 PM ET

On June 27, 2023, Peter Karmanos, Jr., 80, notified the Registrant of his intention to retire from the Registrant’s Board of Directors (the “Board”) and its committees, effective at the adjournment of the Registrant’s 2023 annual meeting of shareholders.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WORTHINGTON ENTERPRISES, INC. reported fiscal 2023 fourth quarter ended May 31, 2023 results: revenue $1.2 billion, net income $129.9 million, EPS $2.61.

Period: fiscal 2023 fourth quarter ended May 31, 2023
Revenue: $1.2 billion
Net income: $129.9 million
EPS: $2.61
Result: reported results

Exact text from the filing

Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $1.2 billion and net earnings of $129.9 million, or $2.61 per diluted share, for its fiscal 2023 fourth quarter ended May 31, 2023.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Peter Karmanos, Jr. retired as Director at WORTHINGTON ENTERPRISES, INC..

Action: retired
Role: Director

Exact text from the filing

On June 27, 2023, Peter Karmanos, Jr., 80, notified the Registrant of his intention to retire from the Registrant’s Board of Directors (the “Board”) and its committees, effective at the adjournment of the Registrant’s 2023 annual meeting of shareholders.

View on SEC.gov

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WORTHINGTON ENTERPRISES, INC. filing history →

Source: SEC EDGAR

accession 0001171843-23-004227

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