Worthington Industries has reported its fourth quarter (Q4) 2023 financial results, reporting net sales of $1.2bn and net earnings of $129.9m, or $2.61 per diluted share.
Q4 operating income for the Ohio-based firm in Q4 was $122.6m, despite a $12.6m headwind resulting from the combination of higher impairment and restructuring charges associated with the planned separation of the company’s steel processing business.
Read more: Worthington Industries to become two separate companies in 2024
Gross margin increased $76.6m over the prior year quarter to $244.4m, on high direct spreads in steel processing which were partially offset by the impact of lower overall volumes.
... to continue reading you must be subscribed
