Worthington

Worthington Industries Completes Board of Directors Transition and Declares Quarterly Dividend

Retrieved on: 
Wednesday, September 27, 2023
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COLUMBUS, Ohio, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) today announced that John Blystone, the Company’s long-time Lead Independent Director has been named Executive Chairman.

Key Points: 
  • COLUMBUS, Ohio, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) today announced that John Blystone, the Company’s long-time Lead Independent Director has been named Executive Chairman.
  • The board also declared a quarterly dividend of $0.32 per share.
  • I look forward to remaining a meaningful, long-term shareholder of both Worthington Enterprises and Worthington Steel, and watching the continued success of both companies.
  • “John [McConnell] has done a fantastic job leading Worthington Industries and the Board.

Worthington Industries Releases 2023 Corporate Citizenship and Sustainability Report

Retrieved on: 
Monday, September 25, 2023
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COLUMBUS, Ohio, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR) released today its Fiscal Year 2023 (FY23) Corporate Citizenship and Sustainability Report documenting the Company’s key initiatives and related performance in areas such as environmental footprint and innovation, workforce development, corporate citizenship and governance.

Key Points: 
  • COLUMBUS, Ohio, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR) released today its Fiscal Year 2023 (FY23) Corporate Citizenship and Sustainability Report documenting the Company’s key initiatives and related performance in areas such as environmental footprint and innovation, workforce development, corporate citizenship and governance.
  • Supporting Communities: The Worthington Industries Foundation contributed $2.9 million in FY23 to 69 organizations championing causes across health, human services, youth and education and civic causes.
  • Worthington Industries’ Tempel business, which manufactures precision magnetic steel laminations, estimates that its products saved more than 1.2 metric tons of carbon emissions in FY23.
  • Newsweek included Worthington Industries in its 2023 listing of America’s Most Responsible Companies .

Worthington Industries Supports Volunteer Fire Fighters with Surplus Two-Way Radios

Retrieved on: 
Thursday, September 7, 2023
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Radiowell's Sustainability Initiative Attracted Worthington: Worthington Industries had a surplus of two-way radio equipment that was no longer needed, so the company sought the assistance of Radiowell for sustainable asset disposition.

Key Points: 
  • Radiowell's Sustainability Initiative Attracted Worthington: Worthington Industries had a surplus of two-way radio equipment that was no longer needed, so the company sought the assistance of Radiowell for sustainable asset disposition.
  • Radiowell is the only land mobile company with sustainability tied to its business results.
  • And through its GRANT program , Radiowell distributes functional secondhand equipment to public safety organizations in need of support.
  • Worthington's equipment will support the life-saving work of volunteer fire fighters.

DCHFA finances the rehabilitation of 394 affordable apartments in Ward 8

Retrieved on: 
Thursday, June 29, 2023
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The Agency underwrote $45.5 million in federal and $9.1 million in D.C. Low Income Housing Tax Credit equity for the preservation of Worthington Woods’ 394 affordable apartments located in the Washington Highlands neighborhood of Ward 8.

Key Points: 
  • The Agency underwrote $45.5 million in federal and $9.1 million in D.C. Low Income Housing Tax Credit equity for the preservation of Worthington Woods’ 394 affordable apartments located in the Washington Highlands neighborhood of Ward 8.
  • In 1953 the National Capital Housing Authority made this one of the first neighborhoods in the city to be desegregated.
  • This was an intentional act,” stated Christopher E. Donald, Executive Director/CEO, DCHFA.
  • Following the renovation, Communities Together, Inc. will provide resident services to all of the tenants of Worthington Woods Apartments.

Worthington Industries Declares Quarterly Dividend

Retrieved on: 
Wednesday, June 28, 2023
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COLUMBUS, Ohio, June 28, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) has declared a quarterly dividend of $0.32 per share, an increase of $0.01 per share or 3% from the prior quarter.

Key Points: 
  • COLUMBUS, Ohio, June 28, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) has declared a quarterly dividend of $0.32 per share, an increase of $0.01 per share or 3% from the prior quarter.
  • The dividend is payable on September 29, 2023, to shareholders of record on September 15, 2023.
  • Worthington has paid a quarterly dividend since it became a public company in 1968 and this marks the 13th consecutive year the Company has increased its dividend.

Lawsuit Seeks to Hold Oil Companies Responsible for Their Part in Deadly Oregon Heat Event

Retrieved on: 
Monday, June 26, 2023
Newton, Shell, Western States Petroleum Association, ExxonMobil, American Petroleum Institute, Marathon Petroleum, Anadarko Petroleum, ConocoPhillips, Peabody Energy, Worthington, Koch Industries, Carbon, PC, McKinsey & Company, Columbia River, Convection, Death, BP, Oregon circuit courts, Air conditioning, Valero Energy, Anomaly, Defendant, Weather, Occidental Petroleum, Fraud, Greenhouse, Deception, Tourism, Coal, Motiva

DALLAS, June 26, 2023 /PRNewswire/ -- Asserting that the companies deceived the public about environmental dangers, Simon Greenstone Panatier, PC has filed a lawsuit on behalf of Multnomah County, Oregon, against more than a dozen fossil fuel producers for negligently and fraudulently selling climate-warming products.

Key Points: 
  • "Oregon state tort law is very explicit about what constitutes negligence, fraud and public nuisance.
  • We contend that these companies took actions and engaged in deception regarding the impact of these companies that are virtual textbook examples."
  • While historically temperate, the region reached record highs of 108, 112 and 116 during an unprecedented June 2021 heat event.
  • The lawsuit seeks to hold the oil and gas companies responsible for decades of knowingly producing and selling climate-destroying products while deceiving the public of the dangers.

Worthington Industries Petitions for Relief from Unfairly-Traded Imports from India

Retrieved on: 
Thursday, April 27, 2023
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Worthington Industries President and CEO Andy Rose said, “Low priced imports from India have surged since our successful trade case against China demonstrating the adverse impact that unfair import competition has on our business.

Key Points: 
  • Worthington Industries President and CEO Andy Rose said, “Low priced imports from India have surged since our successful trade case against China demonstrating the adverse impact that unfair import competition has on our business.
  • Worthington, the sole remaining U.S. manufacturer of DOT-39 cylinders, successfully sought trade relief in 2020 from the U.S. government after losing substantial sales, market share, and revenue to unfair imports of DOT-39 cylinders from China.
  • After facing years of dumping by China, the onslaught of low-priced Indian imports has thwarted the recovery of Worthington’s DOT-39 cylinders business.
  • Worthington has faced declines in market share, sales, shipments, capacity utilization, and workforce as it has suffered under the pressure of unfair Indian imports.

Worthington Reports Third Quarter Fiscal 2023 Results

Retrieved on: 
Wednesday, March 22, 2023
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Income tax expense was $12.1 million in the current quarter compared to $18.7 million in the prior year quarter.

Key Points: 
  • Income tax expense was $12.1 million in the current quarter compared to $18.7 million in the prior year quarter.
  • Tax expense in the current quarter reflects an estimated annual effective rate of 22.8% compared to 23.2% in the prior year quarter.
  • Equity income for the current quarter totaled $37.8 million, down $2.2 million from the prior year quarter, as ClarkDietrich’s results declined $2.5 million from the record levels in the prior year quarter while WAVE’s results improved slightly.
  • We remain confident that our planned separation will create two, distinct market leading companies that will generate long-term value for our shareholders.”
    Worthington will review fiscal 2023 third quarter results during its quarterly conference call on March 23, 2023, at 9:00 a.m., Eastern Time.

Worthington Industries Declares Quarterly Dividend

Retrieved on: 
Wednesday, March 22, 2023
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COLUMBUS, Ohio, March 22, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) has declared a quarterly dividend of $0.31 per share.

Key Points: 
  • COLUMBUS, Ohio, March 22, 2023 (GLOBE NEWSWIRE) -- The board of directors of Worthington Industries, Inc. (NYSE:WOR) has declared a quarterly dividend of $0.31 per share.
  • The dividend is payable on June 29, 2023, to shareholders of record on June 15, 2023.
  • Worthington has paid a quarterly dividend since it became a public company in 1968.

Worthington Reports Second Quarter Fiscal 2023 Results

Retrieved on: 
Tuesday, December 20, 2022
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Net sales for the second quarter of fiscal 2023 were $1.2 billion, a decrease of $57.4 million, or 5%, from the comparable quarter in the prior year.

Key Points: 
  • Net sales for the second quarter of fiscal 2023 were $1.2 billion, a decrease of $57.4 million, or 5%, from the comparable quarter in the prior year.
  • The Company generated an operating loss of $7.0 million in the current quarter compared to operating income of $90.5 million in the prior year quarter.
  • Results in the current quarter included $9.2 million of incremental pre-tax costs incurred in connection with the planned separation of the Company’s Steel Processing business.
  • Income tax expense was $4.1 million in the current quarter compared to $31.2 million in the prior year quarter.