Q1 2025 Worthington Enterprises Inc Earnings Call Transcript
Key Points
- Worthington Enterprises Inc (WOR) delivered a respectable quarter with adjusted EBITDA of $48 million and adjusted earnings per share of $0.50.
- The integration of the Hexagon Ragasco acquisition and the launch of the Sustainable Energy Solutions joint venture with Hexagon Composites have gone well.
- The company broke ground on a modernization project at its Chilton, Wisconsin campus, which will increase production efficiencies and allow for future expansion.
- Worthington Enterprises Inc (WOR) received two awards from Newsweek: America's Greatest Workplaces and the World's Most Trustworthy Companies.
- The company published its annual corporate citizenship and sustainability report, highlighting significant strides in sustainability and responsible governance.
- Adjusted earnings per share decreased from $0.75 in the prior year to $0.50 in the current quarter.
- Consolidated net sales decreased by 17.5% from $312 million to $257 million year-over-year.
- The ClarkDietrich segment saw a significant decline, contributing $9 million compared to $17 million in the prior year.
- The heating and cooking business faced challenges, with lower volumes and an unfavorable product mix.
- The company incurred restructuring charges of $1 million and purchase accounting adjustments and costs associated with the Hexagon Ragasco acquisition, impacting quarterly results.
Good afternoon and welcome to the Worthington Enterprises First Quarter Fiscal 2025 Earnings Conference Call. All participants will be able to listen only until the question-and-answer session of the call. This conference is being recorded at the request of Worthington Enterprises. If anyone objects, you may disconnect at this time.
I'd now like to introduce Marcus Rogier, Treasurer and Investor Relations Officer. Mr. Rogier, you may begin.
Thank you, Rob. Good morning, everyone, and thank you for joining us for Worthington Enterprises' first quarter fiscal 2025 earnings call. On our call today, we have Andy Rose, Worthington's President and Chief Executive Officer; and Joe Hayek, Worthington's Chief Financial and Operations Officer.
Before we get started, I'd like to note that certain statements made today are forward-looking within the meaning of the 1995 Private Securities Litigation Reform Act. These statements are subject to risks and uncertainties that
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
