Steel Mills
September 25, 2014
Worthington Starts FY 2015 on a High Note
Written by Sandy Williams
Worthington Industries began its fiscal year 2015 with higher sales and solid net earnings. The company, located in Columbus, Ohio, reports net earnings of $44.2 million for FY 2015 first quarter, ending on August 31, 2014. Net sales totaled $862.4 million, up 25 percent compared to the first quarter of 2013.
The consolidation of TWB and increased volume in Steel Processing, along with acquisitions in Pressure Cylinders, drove sales for the quarter. Steel Processing net sales on a year over year basis increased 37 percent while Pressure Cylinder net sales rose 15 percent. Steel tolling shipments are up 21 percent and direct shipments up 13 percent, outpacing the market as reported by MSCI.
