Market Segment
March 30, 2014
Worthington Posts Best FY-3rd Quarter in Company History
Written by John Packard
Even as other companies were issuing lower guidance due to weather and its impact on negatively impacting their earnings during the first three months 2014, Worthington Industries reported their fiscal year 2014 3rd Quarter results which ended on February 28, 2014 as being the best in the company’s history. The company reported earnings of $40.6 million or $.57 per share on sales of $773.2 million.
The company reported strong volumes in the processing business from automotive and the construction markets. Their processing business had operating incomes of $28.3 million up 60 percent year –over-year. Pressure cylinders also had strong contributions from their branded consumer products, alternative fuel tanks and the heating tank business. Pressure cylinders reported a 14 percent increase in revenues.
