Steel Mills
June 27, 2019
Earnings Dip as Worthington "Navigates the Impacts of Tariffs"
Written by Tim Triplett
Worthington Industries, Inc., reported net earnings of $153.5 million for its 2019 fiscal year ended May 31, down 21 percent from earnings of $194.8 million in the prior year. Earnings were hurt by inventory holding losses from declining steel prices, among other factors. Sales for the year totaled $3.76 billion, up from $3.58 billion last year.
Worthington’s fourth-quarter sales totaled $938.8 million with net earnings of $37.7 million, compared to earnings of $30.8 million in the prior-year quarter.
