Worthington Industries

OverviewSuggest Edit

Worthington Industries is an industrial manufacturing company that focuses on steel processing and manufactured metal products. It operates through four segments: Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions. The Steel Processing segment processes flat-rolled steel and provides laser welded solutions and electrical steel laminations. The Consumer Products segment manufactures propane-filled cylinders, liquefied petroleum gas (LPG) cylinders, handheld torches, helium-filled balloon kits, and other hand tools and instruments. The Building Products segment specializes in refrigerant and LPG cylinders, well water and expansion tanks, and other specialty products. The Sustainable Energy Solutions segment provides high pressure and acetylene cylinders for life support systems, as well as alternative fuel cylinders for automobiles, buses, and light-duty trucks.
TypePublic
Founded1955
HQWorthington, OH, US
Websiteworthingtonindustries.com
Employee Ratings3.7
Overall CultureD+

Latest Updates

Employees (est.) (May 2022)8,400(-6%)
Job Openings130
Revenue (FY, 2022)$5.2 B(+66%)
Share Price (Aug 2022)$50.9
Cybersecurity ratingBMore
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Key People/Management at Worthington Industries

Andy Rose

Andy Rose

President, Chief Executive Officer
Matt Schlabig

Matt Schlabig

Chief Information Officer
Geoff G. Gilmore

Geoff G. Gilmore

Executive Vice President, Chief Operating Officer
Cathy M. Lyttle

Cathy M. Lyttle

Senior Vice President and Chief Human Resources Officer
Joseph B. Hayek

Joseph B. Hayek

Vice President, Chief Financial Officer
Jeff Klingler

Jeff Klingler

President, Steel Processing
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Worthington Industries Office Locations

Worthington Industries has offices in Worthington, Aberdeen, Alpharetta, Benton Harbor and in 25 other locations
Worthington, OH, US (HQ)
200 W Old Wilson Bridge Rd
Aberdeen, MD, US
1415 Perryman Rd
Alpharetta, GA, US
1361 Stonefield Ct
Benton Harbor, MI, US
745 Enterprise Way
Bowling Green, KY, US
310 Jody Richards Dr
Cerritos, CA, US
12630 Hiddencreek Way
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Worthington Industries Financials and Metrics

Worthington Industries Revenue

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Worthington Industries's revenue was reported to be $5.24 b in FY, 2022 which is a 65.3% increase from the previous period.
USD

Revenue (FY, 2022)

5.2b

Revenue growth (FY, 2021 - FY, 2022), %

65.3%

Gross profit (FY, 2022)

714.8m

Gross profit margin (FY, 2022), %

13.6%

Net income (FY, 2022)

399.3m

EBIT (FY, 2022)

329.3m

Market capitalization (4-Aug-2022)

2.5b

Closing stock price (4-Aug-2022)

50.9

Cash (31-May-2022)

34.5m

EV

3.3b
Worthington Industries's current market capitalization is $2.5 b.
Annual
USDFY, 2020FY, 2021FY, 2022

Revenue

3.1b3.2b5.2b

Revenue growth, %

(19%)4%65%

Cost of goods sold

2.6b2.5b4.5b

Gross profit

443.3m639.1m714.8m
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022Q3, 2022

Revenue

855.9m827.6m764.0m702.9m731.1m759.1m1.1b1.2b1.4b

Cost of goods sold

738.6m707.0m648.5m589.6m595.6m595.0m891.4m1.0b1.2b

Gross profit

117.3m120.6m115.5m113.4m135.5m164.1m219.4m184.6m143.1m

Gross profit Margin, %

14%15%15%16%19%22%20%15%10%
Annual
USDFY, 2020FY, 2021FY, 2022

Cash

147.2m640.3m34.5m

Accounts Receivable

341.0m640.0m857.5m

Prepaid Expenses

68.5m69.0m93.7m

Inventories

405.1m564.8m759.1m
Annual
USDFY, 2020FY, 2021FY, 2022

Net Income

84.4m741.5m399.3m

Depreciation and Amortization

92.7m87.7m98.8m

Inventories

62.1m(169.7m)(118.5m)

Accounts Payable

(142.7m)315.2m12.2m
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022Q3, 2022

Net Income

(2.5m)54.5m73.4m618.7m550.2m622.9m141.5m254.7m313.3m

Depreciation and Amortization

24.2m46.8m69.6m22.2m43.8m65.7m22.1m43.2m70.6m

Inventories

44.3m87.9m90.9m85.6m90.2m(6.6m)(163.7m)(260.9m)(229.8m)

Accounts Payable

(37.2m)(58.0m)(28.3m)47.2m95.3m157.6m46.7m(926.0k)51.0m
USDQ1, 2020

EV/EBIT

-181.1 x

EV/CFO

41 x

Debt/Equity

0.8 x

Debt/Assets

0.3 x

Financial Leverage

2.6 x

P/E Ratio

(385.6)
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Worthington Industries Operating Metrics

Worthington Industries's Enterprise Customers was reported to be 5.1 k in Q1, 2022.
FY, 2019Q1, 2020Q2, 2020Q3, 2020FY, 2020Q1, 2021Q2, 2021Q3, 2021FY, 2021Q1, 2022Q2, 2022Q3, 2022

Countries (Facilities)

117666678799

Enterprise Customers

5 k5 k5 k5 k5 k4.5 k4.5 k5.16 k5.1 k

Facilities

797054575652707068535858

Warehouses

1299

Worthington Industries Acquisitions / Subsidiaries

Company NameDateDeal Size
TempelDecember 01, 2021
Tempel Steel CompanyDecember 01, 2021$272.21 m
Shiloh IndustriesJune 08, 2021$105 m
General Tools & Instruments Company LLCJanuary 29, 2021$120.39 m
PTEC Pressure Technology GmbHJanuary 04, 2021$10.78 m
Samuel, Son & CoDecember 31, 2019
AMTROL Inc.June 02, 2017$291.92 m
Trilogy Engineered SolutionsOctober 09, 2015
Dhybrind SystemsOctober 20, 2014$15.92 m
Steffes - Tank Manufacturing DivisionMarch 27, 2014$27.96 m
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Worthington Industries Revenue Breakdown

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Worthington Industries revenue breakdown by business segment: 75.0% from Steel Processing, 10.3% from Building Products, 12.1% from Consumer Products and 2.5% from Other

Worthington Industries revenue breakdown by geographic segment: 5.8% from International and 94.2% from North America

Worthington Industries Cybersecurity Score

Cybersecurity ratingPremium dataset

B

81/100

SecurityScorecard logo

Worthington Industries Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

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Worthington Industries Online and Social Media Presence

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Worthington Industries Company Culture

  • Overall Culture

    D+

    61/100

  • CEO Rating

    B-

    69/100

  • Compensation

    A

    79/100

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Worthington Industries News and Updates

Worthington Reports Fourth Quarter Fiscal 2022 Results

COLUMBUS, Ohio, June 22, 2022 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $1.5 billion and net earnings of $80.3 million, or $1.61 per diluted share, for its fiscal 2022 fourth quarter ended May 31, 2022. In the fourth quarter of fiscal 2021, the Compan…

Worthington Industries Increases Quarterly Dividend

COLUMBUS, Ohio, June 22, 2022 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE: WOR) has declared a quarterly dividend of $0.31 per share, an increase of $0.03 per share or 11% from the prior quarter. The dividend is payable on Sept. 29, 2022, to shareholders of rec…

Worthington Industries to Webcast Discussion of Fourth Quarter 2022 Results on June 23

COLUMBUS, Ohio, June 07, 2022 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE:WOR) plans to release its fourth quarter results after the market closes on Wednesday, June 22, 2022. The Company will webcast a live discussion of these results on Thursday, June 23 at 8:30 a.m. ET. The webcast w…

Worthington Industries Acquires Drywall Tools Company Level5® Tools, LLC

COLUMBUS, Ohio, June 02, 2022 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE:WOR) today announced the acquisition of Level5® Tools, LLC, a leading provider of drywall tools, including automatic drywall taping and finishing tools, skimming blades, hand tools and accessories. The acquisition…

Worthington Industries Named a 2021 Supplier of the Year by General Motors

Worthington Industries, Inc. today announced that the Company was named a GM Supplier of the Year winner in General Motors’ 30th annual Supplier of the Year awards.

Worthington Industries Announces Price Increase on Cylinders, Heating and System Tanks

Worthington Industries (NYSE:WOR) today announced a price increase on the following steel and aluminum cylinders effective on all new orders shipping on or after May 1, 2022, or as contracts allow.
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Worthington Industries Frequently Asked Questions

  • When was Worthington Industries founded?

    Worthington Industries was founded in 1955.

  • Who are Worthington Industries key executives?

    Worthington Industries's key executives are Andy Rose, Matt Schlabig and Geoff G. Gilmore.

  • How many employees does Worthington Industries have?

    Worthington Industries has 8,400 employees.

  • What is Worthington Industries revenue?

    Latest Worthington Industries annual revenue is $5.2 b.

  • What is Worthington Industries revenue per employee?

    Latest Worthington Industries revenue per employee is $624.1 k.

  • Who are Worthington Industries competitors?

    Competitors of Worthington Industries include Nucor, United States Steel and AK Steel.

  • Where is Worthington Industries headquarters?

    Worthington Industries headquarters is located at 200 W Old Wilson Bridge Rd, Worthington.

  • Where are Worthington Industries offices?

    Worthington Industries has offices in Worthington, Aberdeen, Alpharetta, Benton Harbor and in 25 other locations.

  • How many offices does Worthington Industries have?

    Worthington Industries has 33 offices.