Steel Mills
September 29, 2016
Worthington Industries Posts Record Earnings for Q1 FY2017
Written by Sandy Williams
Worthington Industries delivered record earnings in the first quarter of FY 2017 (ending August 31, 2016). Net sales totaled $737.5 million for net earnings of $65.6 million.
Gross margin increased $34.3 million year-over-year to $147.3 million primarily due to inventory holding gains of $17 million in Steel Processing which were partly offset by lower volume in Pressure Cylinders.
