Steel Products
Worthington Enterprises' earnings dip in fiscal Q2'25
Written by David Schollaert
December 19, 2024
Worthington Enterprises Inc.
| Second quarter ended Nov. 30 | 2024 | 2023 | % Change |
|---|---|---|---|
| Net sales | $274.0 | $298.2 | -8.1% |
| Net income (loss) | $28.0 | $28.2 | -0.6% |
| Per diluted share | $0.57 | $0.36 | 58% |
| Half year ended Nov. 30 | |||
| Net sales | $531.4 | $610.1 | -12.9% |
| Net income (loss) | $52.0 | $127.9 | -59.3% |
| Per diluted share | $1.06 | $0.91 | 16.5% |
Worthington Enterprises’ profits edged down in its fiscal second quarter of 2025 vs. a year earlier. The company said a slump in sales in the quarter was due largely to the “deconsolidation” of the Sustainable Energy Solutions segment in the fourth quarter of fiscal 2024.
The Columbus, Ohio-based designer and manufacturer of building products, consumer products, and sustainable energy solutions achieved net earnings of $28.0 million in fiscal Q2’25 vs. $28.2 million a year earlier. Sales declined roughly 8% to $274 million in the same comparison.
“We delivered solid financial results for the quarter despite mild but persistent macro headwinds,” President and CEO Joe Hayek said in a statement.
Consumer products saw net sales of $116.7 million in fiscal Q2’25, down $2.6 million (-2.2%) vs. the prior year quarter, while building products net sales were $157.3 million, up $6 million (+4.0%) in the same comparison.
Outlook
Worthington Enterprises remains optimistic about its future, emphasizing a strong focus on delivering value-added solutions.
“Our team continues to navigate the current environment effectively, maintaining a strong focus on delivering value-added solutions and products for our customers,” Hayek said.
He noted that while the company was pleased with its performance, “we continue to set our sights higher.”
“We have improved our value propositions in multiple product lines over the last year, and we are very well positioned as growth returns to our end markets,” Hayek said.
The company sees sustainable gains across its value chain and notably through M&A, Hayek added.
David Schollaert
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