Welcome to our dedicated page for Worthington news (Ticker: WOR), a resource for investors and traders seeking the latest updates and insights on Worthington stock.
Worthington Enterprises (WOR) delivers innovative metal processing solutions and sustainable energy systems across global markets. This news hub provides investors and industry professionals with direct access to official announcements, strategic developments, and financial updates from the diversified manufacturer.
Track the company’s progress in building products, consumer solutions, and clean energy technologies through curated press releases. Our repository includes verified updates on earnings reports, facility expansions, product launches, and partnership agreements – all essential for understanding WOR’s market position.
Discover how the company’s advancements in composite cylinder manufacturing and architectural metal systems impact key industries. Content is organized chronologically for efficient research, with clear sourcing for regulatory compliance. Bookmark this page for real-time insights into operational milestones and corporate strategy.
Worthington Industries, Inc. (NYSE: WOR) has completed its acquisition of Tempel Steel Company for approximately $255 million. Tempel is a global leader in manufacturing precision laminations for the electrical steel market, including applications in transformers and electric vehicles. The acquisition adds five manufacturing facilities across Canada, China, India, Mexico, and the U.S., expanding Worthington's workforce by 1,500 employees. This move positions Worthington as a leader in the growing electrical steel market, addressing the demand for hybrids and electric vehicles.
Worthington Industries (NYSE:WOR) will announce its second quarter results on Dec. 16, 2021, before market opening. A live webcast discussion is scheduled for 2 p.m. ET the same day, available on the company’s website and archived for a year. Worthington, established in 1955 and headquartered in Columbus, Ohio, operates 53 facilities across 15 states and seven countries, employing about 8,000 people. The company focuses on innovation in various sectors, including automotive, energy, and consumer products.
Worthington Industries (NYSE: WOR) has launched innovative tools and outdoor living products, set to hit retail stores nationwide for the holiday season. Highlights include the Bernzomatic Digital Fuel Gauge, recognized as a Popular Mechanics Shop Tool Awards 2021 Winner, and the General Tools ANGLE-IZER Locking Contour Gauge, designed for precise shape duplication. These products aim to enhance user experience and reflect the company's focus on consumer insights and innovation.
Worthington Industries (NYSE: WOR) announced that Joe Hayek, Vice President and CFO, will present at Baird’s 2021 Virtual Global Industrial Conference on Nov. 11 at 9:05 a.m. ET. He will discuss the company’s operations, financial performance, and growth strategy. A live webcast will be available on the Worthington Industries website and can be replayed for up to one year.
Additionally, the company is hosting a Virtual Investor & Analyst Day on Nov. 10 at 9:30 a.m. ET.
Worthington Industries (NYSE:WOR) announced the acquisition of Tempel Steel Company for approximately $255 million, plus liabilities. This acquisition positions Worthington as a leader in the electrical steel market, essential for transformers and electric vehicle (EV) motors. Tempel has five manufacturing facilities worldwide and generated net revenue of $377 million and EBITDA of $35 million over the past year. The deal is projected to close in December 2021, enhancing Worthington's automotive and electricity infrastructure offerings as EV adoption grows.
Worthington Industries (NYSE: WOR) will host a Virtual Investor & Analyst Day on Nov. 10, 2021, starting at 9:30 a.m. ET. This event will include presentations from the company's executive management about its new reporting segments: Consumer Products, Building Products, and Sustainable Energy Solutions. The session will last approximately two hours and will conclude with a Q&A segment. Interested investors can register for the event and access the webcast on the Investor Relations website.
MiddleGround Capital has announced the acquisition of two automotive facilities from Benteler International by its portfolio company, Shiloh Industries. This marks MiddleGround’s first add-on investment in Shiloh since taking it private last year and represents its third automotive investment in just 13 months. The facilities in Kalamazoo, Michigan, and Goshen, Indiana, bolster Shiloh's capabilities in lightweighting—a crucial area for meeting fuel efficiency and electrification standards in the automotive sector. MiddleGround is committed to supporting the ongoing transformation in the automotive industry.
Worthington Industries has declared a quarterly dividend of $0.28 per share, payable on December 29, 2021, to shareholders of record on December 15, 2021. This marks the continuation of Worthington's commitment to returning value to shareholders, having paid dividends since its public listing in 1968. The company operates 53 facilities across 15 states and globally, employing around 8,000 people. As a leader in industrial manufacturing, Worthington provides innovative solutions across various sectors, reinforcing its strong market position.
Worthington Industries reported net sales of $1.1 billion and net earnings of $132.5 million, or $2.55 per diluted share for Q1 fiscal 2022, marking a 58% increase in sales year-over-year. The previous year’s earnings were significantly higher at $616.7 million, or $11.22 per share. Key factors included robust performance in the Steel Processing segment despite supply chain challenges. Operating income reached $135.8 million, recovering from an operating loss in the prior year quarter. The company remains cautious about ongoing semiconductor shortages and labor challenges.
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