8-K
filed September 27, 2023, 7:59 PM ET
ticker WOR
CIK 0000108516
earnings
confidence high
sentiment positive
materiality 0.75
Worthington Q1 net earnings up to $96.1M ($1.93/sh); Blystone named Executive Chairman
WORTHINGTON ENTERPRISES, INC.
2023-Q1 EPS reported
$1.93
revenue$1,193,256,000
- Q1 net earnings attrib. to controlling interest $96.1M ($1.93 diluted EPS) vs $64.1M ($1.30) YoY.
- Adjusted net earnings $102.6M ($2.06/sh); net sales $1.2B down 15% from $1.4B YoY.
- John Blystone elected Executive Chairman; John P. McConnell retires; board reduced to 10 directors.
- Quarterly dividend of $0.32 per share declared, payable Dec 15, 2023 to holders of record Nov 15.
- Steel processing separation (Worthington 2024) expected as early as Dec 2023, ahead of prior guidance.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.99
WORTHINGTON ENTERPRISES, INC. reported fiscal 2024 first quarter ended August 31, 2023 results: revenue $1.2 billion, net income $96.1 million, EPS $1.93 per diluted share.
- Period
- fiscal 2024 first quarter ended August 31, 2023
- Revenue
- $1.2 billion
- Net income
- $96.1 million
- EPS
- $1.93 per diluted share
- Result
- reported results
Exact text from the filing
Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $1.2 billion and net earnings attributable to controlling interest of $96.1 million, or $1.93 per diluted share, for its fiscal 2024 first quarter ended August 31, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John B. Blystone was elected as Executive Chairman at WORTHINGTON ENTERPRISES, INC..
- Action
- elected
- Role
- Executive Chairman
Exact text from the filing
Also in connection with Mr. McConnell’s retirement, the Board elected John B. Blystone, the Registrant’s Lead Independent Director, as Executive Chairman of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John P. McConnell retired as Executive Chairman at WORTHINGTON ENTERPRISES, INC..
- Action
- retired
- Role
- Executive Chairman
Exact text from the filing
On September 26, 2023, John P. McConnell, then Executive Chairman of the Registrant, notified the Registrant of his retirement 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 on September 27, 2023 (the “Annual Meeting”).
View on SEC.gov
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
As disclosed in the Registrant’s Current Report on Form 8-K filed on June 28, 2023, Peter Karmanos, Jr. also retired from the Board and its committees, effective at the adjournment of the Annual Meeting.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael J. Endres was elected as Lead Independent Director at WORTHINGTON ENTERPRISES, INC..
- Action
- elected
- Role
- Lead Independent Director
Exact text from the filing
The Board elected Michael J. Endres as both the Registrant’s Lead Independent Director and Chairman of the Registrant’s Compensation Committee.
View on SEC.gov
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