Worthington Q4 EPS $2.61 ($2.74 adj) vs $1.61 YoY; dividend raised to $0.32

WORTHINGTON ENTERPRISES, INC.

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

Net sales $1.23B, down 19% YoY from $1.52B; net earnings $129.9M vs $80.3M.
Steel Processing adjusted EBIT up $79.7M to $96.2M on higher direct spreads and inventory holding gains.
Board declared quarterly dividend $0.32/share, up $0.01 (3%), payable Sept 29 to record Sept 15.
Peter Karmanos to retire from board after 2023 annual meeting; John McConnell defers retirement.
Worthington 2024 separation of Steel Processing on track for early calendar 2024.

item 8.01 item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Peter Karmanos, Jr.

Director

WOR · WORTHINGTON ENTERPRISES, INC.

Filed: June 30, 2023, 7:59 PM ET

On June 27, 2023, Peter Karmanos, Jr., 80, notified the Registrant of his intention to retire from 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 fourth quarter and fiscal year ended May 31, 2023 results: revenue $1.2 billion, net income $129.9 million, or $2.61 per diluted share.

Period: fourth quarter and fiscal year ended May 31, 2023
Revenue: $1.2 billion
Net income: $129.9 million, or $2.61 per diluted share
Result: reported results

Exact text from the filing

Worthington Reports Fourth Quarter Fiscal 2023 Results COLUMBUS, Ohio, June 28, 2023 (GLOBE NEWSWIRE) -- 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 1.0

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

Action: retire
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 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 0001171843-23-004280

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