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

Worthington Enterprises (NYSE:WOR) released its quarterly earnings results on Tuesday. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07, FiscalAI reports. The firm had revenue of $343.89 million for the quarter, compared to analysts’ expectations of $331.26 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.

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 Performance

NYSE WOR traded up $0.96 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 market capitalization of $2.89 billion, a price-to-earnings ratio of 18.82 and a beta of 1.30. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average price is $57.48 and its 200-day moving average price is $55.43. Worthington Enterprises has a 52-week low of $45.01 and a 52-week high of $63.13.

Wall Street Analysts Forecast Growth

WOR has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Canaccord Genuity Group cut their price target on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Finally, Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.50.

Insider Buying and Selling

In other Worthington Enterprises news, major shareholder John McConnell sold 17,625 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was 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 filing with the SEC, which is available through 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.