Worthington Enterprises Full Year 2024 Earnings: Misses Expectations

Worthington Enterprises (NYSE:WOR) Full Year 2024 Results

Key Financial Results

• Revenue: US$1.25b (down 12% from FY 2023).
• Net income: US$27.8m (down 75% from FY 2023).
• Profit margin: 2.2% (down from 8.0% in FY 2023).
• EPS: US$0.56 (down from US$2.33 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Worthington Enterprises Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 22%.

The primary driver behind last 12 months revenue was the Building Products segment contributing a total revenue of US$619.0m (50% of total revenue). Notably, cost of sales worth US$960.7m amounted to 77% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$253.9m (90% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$26.2m. Explore how WOR's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Consumer Durables industry in the US.

Performance of the American Consumer Durables industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 3 warning signs for Worthington Enterprises you should be aware of.

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