Worthington Q3 2024 Earnings Report
Key Takeaways
Worthington Enterprises reported net sales of $316.8 million and net earnings of $22.0 million, or $0.44 per diluted share, for Q3 2024. Adjusted earnings were $0.80 per share, compared to $0.81 in the prior year. The company highlighted strong performance in Consumer Products and Building Products, offset by challenges in the Sustainable Energy Solutions business in Europe.
Net sales decreased by 8.5% year-over-year to $316.8 million, driven by lower sales in Building Products.
Net earnings from continuing operations were $22.0 million, or $0.44 per diluted share.
Adjusted earnings per share were $0.80, slightly down from $0.81 in the prior year.
Consumer Products saw a 1.9% increase in net sales, while Building Products net sales decreased by 19%.
Worthington
Worthington
Worthington Revenue by Segment
Forward Guidance
Worthington Enterprises is operating well heading into Q4, with well vetted strategies and strong teams focused on increasing shareholder value. The company has a strong balance sheet and capital available to take advantage of opportunities.
Positive Outlook
- Well-vetted strategies in place.
- Strong teams with high expectations.
- Promise of increasing shareholder value.
- Solid strategic positioning.
- Strong balance sheet and significant capital available.
Challenges Ahead
- Not without challenges.
- Continued softness in Europe from Sustainable Energy Solutions business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income