Worthington Enterprises (NYSE:WOR) Releases Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Worthington Enterprises beat quarterly expectations: EPS was $0.82 versus the $0.75 consensus, while revenue reached $343.89 million, exceeding estimates of $331.26 million.
• Shares rose 1.6% to $59.11 following the results. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $65.50.
• Major shareholder John McConnell sold 17,625 shares for approximately $934,830, reducing his ownership by 1.3%; insiders currently own 2.5% of the company.

Worthington Enterprises (NYSE:WOR - Get Free Report) issued its earnings results on Tuesday. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.07, FiscalAI reports. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The company had revenue of $343.89 million for the quarter, compared to analysts' expectations of $331.26 million.

Here are the key takeaways from Worthington Enterprises' conference call:

• More than 90% of outstanding shares were represented at the annual meeting, indicating strong shareholder participation.
• Shareholders re-elected directors Charles Chiappone, Brad Southern, and Brant Standridge, each for a three-year term ending at the 2029 annual meeting.
• Shareholders approved the advisory vote on the company’s executive compensation, supporting management’s disclosed compensation practices.
• Shareholders ratified KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending May 31, 2027.

Worthington Enterprises Stock Up 1.6%

NYSE:WOR traded up $0.96 during trading hours on Tuesday, hitting $59.11. 387,881 shares of the company traded hands, compared to its average volume of 232,375. The company has a quick ratio of 1.43, a current ratio of 2.37 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.89 billion, a PE ratio of 18.82 and a beta of 1.30. The firm's 50-day simple moving average is $57.48 and its 200-day simple moving average is $55.43. Worthington Enterprises has a one year low of $45.01 and a one year high of $63.13.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Worthington Enterprises in a report on Friday, July 17th. Finally, Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.50.

Insider Activity

In other news, major shareholder John McConnell sold 17,625 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total value of $934,830.00. Following the completion of the sale, the insider owned 1,335,648 shares in the company, valued at $70,842,769.92. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by insiders.

About Worthington Enterprises

Worthington Enterprises, Inc NYSE: WOR is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.

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