Worthington Industries Reports Solid Quarterly Results

Worthington Industries reported net sales of $827.6 million and net earnings of $52.1 million for its second 2020 fiscal quarter ending Nov. 30, 2019. Earnings included a pre-tax gain of $23 million related to sale of the WAVE joint venture.

“We delivered solid results for the quarter despite some market softness and challenging conditions in steel pricing,” said John McConnell, Chairman and CEO. “Pressure Cylinders volumes were up, led by strong demand in the consumer products and oil and gas businesses. Overall, we returned to year-over-year earnings growth for the quarter, and I’m pleased with the way our teams continue to perform in markets that are being impacted by trade wars and economic uncertainty.”