NYSE$WOR
Worthington Enterprises Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Worthington Industries reported earnings of $0.29 per share, with net sales decreasing 35% from the prior year quarter. The company faced significant uncertainty related to the coronavirus and associated shutdowns, impacting demand and results.
Worthington Industries reported Q4 earnings of $0.29 per share, a decrease from $0.66 in the prior year quarter. Net sales were $612 million, down 35% year-over-year, primarily due to lower volumes in Steel Processing and a shift in mix in Cylinders. The company experienced lower demand in key end markets due to COVID-19 but saw sequential improvement through the quarter, with May showing signs of recovery.
- Q4 earnings were $0.29 per share, compared to $0.66 in the prior year quarter.
- Net sales decreased 35% year-over-year to $612 million, driven by lower volumes in Steel Processing and a shift in mix in Cylinders.
- Gross profit declined to $90 million from $126 million in the prior year, but gross margin increased to 14.7% from 13.4%.
- Adjusted EBITDA was $67 million, compared to $89 million in the prior year, with positive EBITDA generated in each month of Q4.
Headline financials
Revenue & EPS history
Worthington · Revenue · Quarterly
$612M
Revenue by segment
Worthington · $283M total across 1 segment · Q4 2020
- Consumer Products$283M-12.0%100.0%
Forward guidance
Assuming the economy continues to open back up here and abroad, Worthington expects to see improvements in our businesses, particularly those that were hardest hit last quarter.
Tailwinds
- Business conditions are improved.
- Positive developments around our investment in Nikola.
- Most of our businesses operated under the essential business rules
- Begin the year with a strong balance sheet, low interest expense and significant cash and revolver availability.
- Expect to see improvements in our businesses, particularly those that were hardest hit last quarter.
Headwinds
- There were restructuring and impairment charges of $15.7 million, or $0.20 per share, in Q4
- Consolidated net sales of $612 million decreased 35% from the prior year quarter
- Gross profit declined in the quarter by $36 million from Q4 last year to $90 million
- The decrease was across the board, as our JV’s primarily serve the construction and automotive end markets.
- Economic outlook still unclear, we will remain guarded in our approach until there is evidence of a broad-based recovery.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2020
-0.1%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+2.8%
Avg return
30 days after
44%
30 / 68 earnings
Positive
+23.8%
Q3 2025
Best reaction
-22.3%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | — | — | — | |
| Q3 2026 | -5.6% | +1.8% | — | |
| Q2 2026 | -2.3% | -6.2% | -5.1% | |
| Q1 2026 | -11.8% | -9.2% | -2.9% | |
| Q4 2025 | +0.0% | +2.6% | +0.1% | |
| Q3 2025 | +23.8% | +20.3% | +19.5% | |
| Q2 2025 | +8.9% | +5.4% | +8.1% | |
| Q1 2025 | -4.0% | -8.3% | -13.3% | |
| Q4 2024 | -5.5% | -7.7% | -2.3% | |
| Q3 2024 | +6.5% | -0.9% | -8.8% | |
| Q2 2024 | -0.7% | -0.1% | -5.7% | |
| Q1 2024 | -10.0% | -9.6% | -11.1% | |
| Q4 2023 | +10.5% | +11.3% | +18.6% | |
| Q3 2023 | +18.0% | +18.5% | +15.3% | |
| Q2 2023 | -3.5% | -3.7% | +3.9% | |
| Q1 2023 | -22.3% | -8.1% | -4.6% | |
| Q4 2022 | +14.8% | +13.8% | +10.1% | |
| Q3 2022 | -13.6% | -17.7% | -13.3% | |
| Q2 2022 | +1.1% | -0.5% | +14.0% | |
| Q1 2022 | -5.4% | -0.8% | -2.5% | |
| Q4 2021 | +3.3% | +2.6% | +5.8% | |
| Q3 2021 | +2.9% | +3.4% | +3.8% | |
| Q2 2021 | -6.5% | -6.4% | +7.0% | |
| Q1 2021 | +1.6% | +8.6% | +34.7% | |
| Q4 2020 | -2.1% | +6.7% | +7.3% | |
| Q3 2020 | +6.3% | +15.9% | +4.0% | |
| Q2 2020 | +10.0% | +8.1% | +3.2% | |
| Q1 2020 | -4.8% | -2.3% | -2.3% | |
| Q4 2019 | +4.6% | +8.3% | +9.7% | |
| Q3 2019 | +2.4% | -6.3% | +8.6% | |
| Q2 2019 | -5.7% | -5.1% | +2.3% | |
| Q1 2019 | -8.9% | -5.4% | -13.6% | |
| Q4 2018 | -9.3% | -6.8% | +0.6% | |
| Q3 2018 | -2.4% | -0.6% | +11.9% | |
| Q2 2018 | +2.4% | +1.7% | +9.9% | |
| Q1 2018 | -9.3% | -7.4% | -7.5% | |
| Q4 2017 | +5.3% | +3.8% | +6.9% | |
| Q3 2017 | -8.5% | -11.9% | -13.4% | |
| Q2 2017 | -6.8% | -11.0% | -15.0% | |
| Q1 2017 | +6.7% | +8.9% | +5.0% | |
| Q4 2016 | +14.5% | +13.7% | +19.9% | |
| Q3 2016 | -3.2% | — | — | |
| Q2 2016 | +9.2% | — | — | |
| Q1 2016 | +15.3% | — | — | |
| Q4 2015 | +6.3% | — | — | |
| Q3 2015 | -9.3% | — | — | |
| Q2 2015 | -15.1% | — | — | |
| Q1 2015 | -3.7% | — | — | |
| Q4 2014 | +1.4% | — | — | |
| Q3 2014 | -7.0% | — | — | |
| Q2 2014 | -2.9% | — | — | |
| Q1 2014 | +1.4% | — | — | |
| Q4 2013 | -2.0% | — | — | |
| Q3 2013 | +1.5% | — | — | |
| Q2 2013 | +0.9% | — | — | |
| Q1 2013 | -1.9% | — | — | |
| Q4 2012 | +16.1% | — | — | |
| Q3 2012 | +4.5% | — | — | |
| Q2 2012 | +3.5% | — | — | |
| Q1 2012 | -6.7% | — | — | |
| Q4 2011 | -3.0% | — | — | |
| Q4 2009 | -3.0% | — | — | |
| Q3 2011 | -2.7% | — | — | |
| Q3 2010 | -2.7% | — | — | |
| Q2 2011 | +1.1% | — | — | |
| Q2 2010 | +1.1% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q1 2010 | -0.4% | — | — | |
| Q4 2010 | -0.4% | — | — |
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