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    Market Segment

    December 16, 2021

    Processing, Building Produce Record Results for Worthington

    Written by David Schollaert

    Worthington Industries Inc. reported net earnings of $110.3 million for the second quarter of its fiscal 2022 ended Nov. 30 on total sales of $1.2 billion. Revenues for the Columbus, Ohio-based steel processor jumped by 69% or $501.8 million from the same period last year, driven primarily by higher average direct selling prices in its Steel Processing segment and stronger overall volume sales, the company said.

    Worthington“We had a record second quarter led by strong results from our Steel Processing and Building Products segments,” said Andy Rose, Worthington’s president and CEO. “Steel Processing continued to benefit from inventory holding gains and Building Products saw significant contributions from both ClarkDietrich and WAVE and solid growth in our wholly owned businesses.”

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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