Worthington Feels Margin Pressure from Tariffs

Worthington Industries reported net sales of $958.2 million for its fiscal 2019 second quarter ended Nov. 30, a 10 percent increase over the same quarter in fiscal 2018. However, its quarterly earnings were not as strong. Operating income totaled $35.9 million, a decrease of $16.2 million from the prior-year quarter.

“I am pleased with the way our teams executed in a challenging environment,” said John McConnell, Chairman and CEO. “We faced headwinds in the quarter due to rising input costs and lower spreads in our Steel Processing business. But volumes for our key markets remained solid and our employees continue to work hard to make improvements.”