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Worthington Industries reports Q2 sales increase

Columbus, Ohio-based Worthington Industries, makers of metal products including hand torches and propane tanks, posted sales of $580.7 million in the second quarter ended Nov. 30, up 30% from $448.0 million in the same quarter last year.

Net earnings, however, declined to $14.5 million, down from from $23.2 million in the same quarter last year. 

"I am pleased with the performance of our company as we continue to produce solid results in our Steel Processing and Pressure Cylinders business segments, despite an uneven economic recovery,” said Chairman and CEO John P. McConnell. 

Looking forward, he added: "The third quarter is our historically slowest quarter of the year and while we do expect to see some seasonality impact, we anticipate sustaining much of our volume improvements in Steel Processing and Pressure Cylinders."

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