Worthington Posts Strong Results, But Earnings Fall On One-Off Adjustments

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ValueWalk

Reported net sales of $1.5 billion for the first quarter during the fourth quarter.Net earnings came in at $80.3 million, or $1.61 per diluted share.Despite inventory holding losses, Worthington continues to produce strong results as the building and consumer products segments outperformed.Worthington’s products during the third quarter were affected by the semiconductor shortage, which led to a fall in volume, some of those issues have resolved themselves during the fourth quarter.Worthington Industries (NYSE:WOR) is a global diversified metals and manufacturing company based out of Columbus,…

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