Steel Mills
June 29, 2014
Worthington Industries Results “Great”
Written by Sandy Williams
Worthington Industries announced it had “a great fiscal 2014” in its earnings report on Thursday. The company reported net earnings of $151.3 million for FY 2014. Net sales were up 20 percent year over year to $3,126.4 million due to the consolidation of joint venture Tailor Welded Blanks, higher steel processing volumes and the acquisitions in Pressure Cylinders.
Fourth quarter net sales for the company totaled $891.0 million with net earnings of $33.2 million. Impairment and restructuring charges reduced earnings by $23.7 million for the quarter.
