WOR - Earnings call transcript Q4 2020 | Worthington Industries, Inc.

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Operator

Good morning and welcome to the Worthington Industries Fourth Quarter and Fiscal Year End 2020 Earnings Conference Call. All participants will be able to listen-only until the question-and-answer session of the call. This conference is being recorded at the request of Worthington Industries. If anyone objects, you may disconnect at this time. I would now like to introduce Marcus Rogier, Treasurer and Investor Relations Officer. Mr. begin. may you Rogier,

Marcus Rogier

Chief Good fiscal and our XXXX have Financial Chairman morning, Christine. President; Rose, Industries our and call to fourth we Chief and Worthington’s McConnell, quarter earnings Joe John Officer; morning, you, Andy welcome Worthington’s Hayek. everyone Officer, Worthington this Executive Thank call. On

recorded statements are risks Securities I’d meaning of the release uncertainties started, get everyone Litigation we cause to within Act. to remind actual to our this that earlier differ suggested. XXXX forward-looking Private are certain and could Before from like earnings morning. some later I statements could Please and We Reform These results to made subject Today’s will today results the issued those website. to our more detail to being will John over for for materially. worthingtonindustries.com point, cause a made be comments. on and those on At replay available actual turn it factors this differ call that is opening the refer call

John McConnell

Marcus. Thank you,

past a by challenging These come day to I of years. who been this in hard As effective the difference, to every board you privilege the CEO Executive appointed through Rose the our our Chief been for XX especially have these our I become same has remain culmination of position out the of night, actions It Officer to has last transition commencing lead the are retaining as succession X, work President. Executive decided on position Chairman. of of I’ll a make am by times. plan. well-thought the and employees date company Andy read next the effective to September proud CEO announcement in and

to I’m believe now our those the position the that to Hayek to over in in confident our strongest perhaps review the bring is Joe? Andy history opportunities. in that exciting turn a I fourth on opportunities. will company Our I’ll the CFO, and leadership, decade Joe next quarter will entire the call and detail. grow great deliver

Joe Hayek

and I so at say, behalf forward you looking know, are impact I of John, and us to for speak everyone. on when individuals. collectively, all spend continued the Executive then I now morning had company, this you've as us as of the we'll us Andy. of on few our turn over for lead I'll Good that many call on minutes how grateful Chairman. how We're the we quarter leadership your a and to reviewing Worthington

us This quarter with challenges. presented and unprecedented companies everywhere

and face to shutdowns. and significant These coronavirus to a impact significant dynamics related results. uncertainty associated the on had continue demand We our on

their has and While other, and evolving are finding easy brought innovative the our the see, each it people. our normal. negative best Worthington teams we're keeping way to other our of have COVID-XX ways new in supported very the business by proud also to our the of navigate impacts out customers, each Across communities, safe

we been reported and $X.XX we this year the has emerge stronger full $X.XX QX, result. versus a we share decisions, While forced as will believe earnings in on people difficult our first has culture display, In quarter. that of per crisis prior

this exit of This by in in $XX share the year $XX.X margin while holding to the addition million COVID-XX, last from inventory losses associated year. that and of in and million share were due decreased charges, to Armstrong sale. to few in the severance $X.XX not Estimated prior mix to due the and holding write-down estimated in in declined European compares a facilities included quarter, of key significantly the charges sorry, earlier year. QX quarter. the million, our in quarter net XX.X% Gross – year remaining Engineered with in of prior profit unique per name to In year in of the lower $X.X QX shift exiting share related the impairment in $X.XX volumes were or a year restructuring from losses to Consolidated were lower Cabs $XXX Engineered that Processing, quarter million business. charges the of trade two items from $X.XX that gross quarter million Cabs share operations per compared QX end demand QX impairment to there several XX% Steel last $XX cylinders includes our in from We gains markets primarily per last or following. XX.X% per sales to $X.XX in incurred increased

for effective Our last XX.X% year. versus XX% year current annual the tax rate was

last quarter, Our shutdowns. adjusted most demand diversified challenging profitability-wise, later begin mix in from of shipped the year we and offerings automotive demand May QX EBITDA Processing, our and million to were generated XX% QX now compared in year, due the positive was EBITDA in volumes. of last last testament the In each recovery, was largely of signs $XXX reduced adjusted to of month. slowdown were XX-month million. through by in late saw QX, March. us associated COVID tons net particularly to the lower month with heavy our truck primarily down Sequentially month the to Steel XX% $XX EBITDA team's April trailing sales really We year, Total a execution. for $XX our and is down with million and showing $XXX driven from million

declined typically May. lower which prices, were and April $XX.X year to in mix of automotive expect Samuel primarily in partially were in due Worthington seasonal by last months Direct was X% due to strength shipments offset in operating losses of XX% million our in XX% have in a declines February losses tons of Toll Operating Our results consolidation Due earlier prior down and toll the of ended the close fiscal year-over-year compared inventory were our tons year-over-year XX% customers, to quarter. holding Processing in of Steel's XX% revenue, quarter of a both the holding rose XX Coil to strong JV in to loss the zero lack year the by to and to QX a by do due period. million in from current we Processing, volumes, year, $X.X JV. in in coating QX. Steel to recent inventory steel profit the

change were The products of year Turning to to our $XXX down and mix primarily sales industrial gas prior lower in due oil volumes decline net Pressure Cylinders, from XX% the quarter. a business. million, in was and

JVs were conditions products our by during by excluding and driven product restructuring, business down year down prior serve from our on quarter venture. largely With products in in prior weakness the joint from European steel basis million, in year in our end Chinese the The We JVs the quarter quarter. shutdowns declines and quarter, $XX worsened commercial soft quarter. to Volumes write-down lines cylinder impacted by that impairment consumer-facing automotive operating excluding as from received industrial $XX Europe construction installations, Softness increased in home margins were was continued our JVs, the the decrease difficult unconsolidated conditions more Cylinders was sales or operations. during and income the $XX to the the the was positively X.X%. partially on the same operating million, dividends Economic our of stay-at-home $XX as improved million XXXX markets. equity of $X rely and were primarily shutdowns. was offset during board across the income, during QX our which prior in for respect orders, million million X.X% to from the

our JVs from dividends, received $XXX year, $XXX For conversion was and we of XXX%. income the a million cash equity in million ratio

sheet, cash the the in from quarter was and in million the and $XXX to year, million free flow, and cash operations totaling million the the $XX $XXX Turning flow in fiscal with same flow periods. $XX statement cash balance million

invested the capital projects and on dividends. $XX quarter, paid we million in $XX During million

at and both prior balance of a down at million. increased QX nearly $XX sequentially $XXX from in balances. quarter in up million. at at $XXX position, million to Interest of the quarter and $XXX the the million debt Looking $X.X We was million from end with sheet ended year by expense refinancing $XXX flat quarter, million our debt million $X liquidity QX was due capital to essentially end working funded debt lower over cash, and

credit We available revolving under have facilities. an our $XXX additional million

the Our a net declared consecutive our EBITDA was at trailing will end to per $X.XX payable the XXXX. over This be quarter, September Board quarter, ratio tenth on debt for we last roughly dividend. leverage a increased have quarter that increase the year Yesterday, the $X.XX dividend X.X which is of share times.

to it Nikola turn I few I'd a Corporation. our over to related make like in Before to comments investment Andy,

public Those seed are a an X, provided own we began On on and company disclosed Nikola our Nikola as terms trading filing. recently we we shares to call, QX SEC in the As to XX roughly a in XXXX. million lock-up, of shares. which June a discussed we subject investment

QX. accomplished Nikola, While which there any require Andy the us success. shares a Trevor, our to a current turn holdings, like and team continued in going this our currently rules to at for Since time. market regarding entire QX at in to would are lock-up, no accounting shares over and was I'll generate earnings mark investment our to them prices impact decisions wish not our will Nikola gain we we related yet have Mark they congratulate to to made to it have significant our subject but will we forward, Andy? what

Andy Rose

Good Thank morning Joe. everyone. you,

March but mentioned, of levels essential most levels, was positive money, some the to This had essentially our operated tied end exception Difficulty] May albeit breakeven at of automotive. our the normal the with quarter fortunately market and Nikola. improved. we fluctuated under had was in of are an lower businesses on and depending moving demand April lot significantly developments although those our saw parts, of from business standpoint. rules a business products. [Technical businesses earnings around conditions Most investment relatively make

to commended for our This to and while is Anniversary. that employees those Our It's strict year are year. special business means fiscal June a new all facilities. safety and our protocols adapting XXth following around volatile guidelines to evolving protect we're conditions, these quickly celebrating in be because and particularly

sheet, people, a interest cash and and every have to it balance philosophy low and We year expense who milestone. significant the began this with revolver strong for live We reaching our day our availability. thank

continues up abroad, businesses, in hardest were see Assuming we to expect back quarter. last our that open hit those here and improvements to the particularly economy

this opportunistic allocate be shareholders. As and capital we there value for occurs, believe drive will ways to

several past still again their like approach of our all to for over to outlook dedication until say unclear, months. economic work to employees there's we guarded I you will of recovery. evidence Worthington a and Industries the remain the with broad-based on However, would our thank hard

to hopeful organization, well an and the while is behind whatever for worst lie we us, As we have prepared adapted are new our ahead. challenges are normal, we

our successfully I'd by Board opportunity Finally, McConnell. this returns to I the our McConnell for to continue in am by Directors to H. philosophy and and selection McConnell the highly protect to unique me continue and our are by legacy of John goals John giving by thank shareholders. great motivated XXXX guided started Chairman, like simple, My humbled and expanded culture company. solid P. to upon John the lead our the delivering

We the company, confidence these on high employees will and me across together have that team more. a gives we leadership all and talented goals deliver great which

take now will any We questions.

Operator

from Your Instructions] [Operator first Exane line you. Seth Rosenfeld comes BNP. Thank from of question

Your line open. is

Seth Rosenfeld

for very you follow-up, Worthington a but just you we can business wanted already in opportunity? Worthington how lock-up, businesses that'd of all remarks a please, something allocation taking understand up Were please, if strategic further recognizing comment can long or the your If business? congrats number term either a a would for stake investments that value Thank cycle. stakes Nikola, questions may, in And been Nikola might be regards Thanks with I I perspective. to holding as say bit did of morning. a the to potential would give you've prepared whether disposal follow a in or commented today us Good for think have try Nikola given from envision limited about I in kind a dispose of the drive ways if can quarter. color, make you of that to how where shareholders, a that you then do the capital my on that you. you given have business strong you be we about strategic in little capital potential and – with long-standing. shareholder be allocation, options, this and are returns the you does to Would

John McConnell

made going around a any that historically over public, to as with any continued and to we're allocated – standpoint, capital respect to have allocation well to further shareholders. investments and we company, a And Yes. you for this at has went from We've would not reinvest some paying not past I Seth, company been Worthington comment the benefit dividend years, year company. approach. first the know, Nikola, XX share of share will our CapEx you point. to we're our pursue so we in to capital We've tell since also a profit-sharing we a with followed balanced repurchases the profits employees. we've decisions

similar a regardless do time, So, kind of I what that, expect Nikola, with we'll that follow we of would approach. over

Seth Rosenfeld

to of just clear. very regards the It's you. one timeframe with follow-up, please, lock-ups. Thank And

confusion I through you. of regards this been this think some investors] just please? of timeline. to walk has staggered us kind lock-up the Thank with you [with there system, approach Can

Joe Hayek

Joe. Sure. Seth it's

You this call, is document. know, that and we direct than doing rather it to filed the that on people would just with SEC,

Seth Rosenfeld

thank Okay, much. very you

Operator

Your from Capital Gibbs KeyBanc Phil from the line of next question comes Markets.

Your open. line is

Phil Gibbs

seamless and know John the to transition this. on and I congratulate you both will be Congratulations Andy,

John McConnell

Phil. Thanks

Phil Gibbs

side. First question just Cylinder is on the

solid and that the I and you Joe, are clearly, is all? consumer Is think, the you guess, not strength staying based hindsight, growing, all a remarks surprise your I I in stay-at-home in you mentioned on business? prepared for in now, huge seeing what that in but orders, and the DIY camping – guess,

Joe Hayek

for So and of the for in new very It shifted. yeah Phil, you're the three homes. right, – a to of on old, saw people's and were the year commercial was enter Cylinders to quarter fiscal all is lines product we weeks benefit. but things are construction that difficult mix were Europe, the soft, very It like difficult anything and was over contractors sites that happen in the ours consumer-facing, automotive

you at unfortunately, and May first we knowing a couple for into strength be weeks right the to And the strong for of still, of continued that months QX. seasonally outdoor think because activities, which that time can't XX all of we those uncertainty watchword will we trends drove expect, or not, anything after in unabated but normal. us so moving seasonally are And for The would June. of into next whether things forward, is the some for else, predict continue now

Andy Rose

This stronger. a you would is potentially had as the situation sense obviously proven have past little in to business, even sort bit the a to – with decline, has it's past that similar the Phil, a of in be is virus behaving economic driving counter different a and cyclical. but

Phil Gibbs

what look to from Okay. aspect at construction component that When a remodel repair I we high understand of business, WAVE commercial the it. has in

to changes been? So, now, the have sure complexes, – or where still on you're things, kind because probably cycle, shutting resilient etcetera and seeing people I'm of office just more any they of business that the but non-essential through it impacted right businesses

Andy Rose

a in as think to well, impacted, were I construction the I here. as relates There’s WAVE City, you to of the that extent longer-term probably obviously certain some it during bigger off York implications but more was New hotspots was Yeah, know commercial demand like their ClarkDietrich mean, quarter. cities so and

as trend, work-from-home business. long not obviously is buildings. they're sometimes XX% office and has Some many said, is repair high negative. negative certainly or as you run, as XX% implications some that are a But for there that are high The remodel as WAVE and probably commercial some positive the percentage, building

social and some probably be existing the way reconfiguration, that a office so what impacts too. And and if so continues, for lot could of work there there buildings, distancing people positive workstations means

their the these to just it's So, goes, in of though, the volumes down. short hard are – really were but kind this thing off activity is because predict, where run,

Phil Gibbs

still know think And okay, this there And the you Steel biggest new pre-positioned looking you Andy. out March started or May restarts. to Thanks, sort the in a business, some and well to of I trying you've was as come clearly I the businesses would component. for automotive it of at as thought sprinkled big got April impact consolidate. of was Processing

of toll change given to with in that big good all still the or a first be going your a mind there and that is in figures the was could recovering aggregate in moving volumes that's the trying in stable? March now. now we're So, in things quarter just that business fact lot understand, thrown be being reasonably pieces some, there to Just

Andy Rose

reasonable were days the pretty Sure. And, XX Phil, mid-March another our and shipments interestingly, in post. still for in automotive yeah, were shutdowns

And back I the inventory shipments restart so on as some there lagged our since, was on think, the a consequence, end, hand.

we that, – DX months, bounce forecast to big a and any and we up, is those reasonable and are and bit so a be not ramp automotive restarts Those And into continue be ag we results impacted to look bumpy. do time you as little to have others for as some at end overcome so look expect to and zero and be a zero a markets IHS a that have our have your certainly truck, construction, and it been as going forecast our really would business heavy of around automotive correlation. there IHS have back and of like the it's take tough in couple But XX% June. to bit of things

Phil Gibbs

much. very all you Thank

Operator

John line Tumazos comes question Research. Tumazos next Very from from of Independent Your the John

open. is Your line

John Tumazos

years. Thank for the to you It's John or for service with to so honor an very company. his been and pleasure work to a thank much. I McConnell XX want you

John McConnell

with work you. to Pleasure John. you, Thank

John Tumazos

gig and Mark and leaving who's at on good want Nikola. call Russell, promotions finding Worthington on not the to for and I others congratulate their a the Andy

John McConnell

appreciate that. he'll sure I'm

John Tumazos

been I’m permanently the idling little the of the there's U.S. Idling, auto e-course, plants closed. a you from Steel some impacts are hot Lakes, Dearborn, customer’s us of tell mill or core regard the of Great businesses, in upheaval bit economy. With shutdowns? that strip to suppliers there Could if Michigan, thinking in permanent Cliff Michigan, are

those Fortunately, customers are and exposed are you're but you to changes changing. industry not you because to that travel so airline making, have the or changes your much, maybe suppliers there make any the and entertainment are and are

Joe Hayek

Joe. it's John, of So, thoughts. A couple

like supply dealt any had that we those think first now. certainly chain is exceptionally a steps able have us we our we've We to we're the take and have everybody The material been stability the them feel we right and some from to taken of to We disruptions that well other shutdowns did our that any Ultimately, don't We've solutions disruptions. that are unique impact perspective. great think haven't that of teams and of material will with business, with our on customers. offer positions we customers, see done, work able care as us. it

but we that where are where high are also But as need some demand, and both we so reasonable to control. and positioned, day of we're out we love And need thinking for that we'd long-term We our about of short-term as like we is like to. now. every reach we and

John McConnell

mill few a the or we maybe products because want developed risk And of, didn't to side other of take just sources years of a number our printing you really our to on ago of comments and the steel supplies. know, supply a for here, add shutdown secondary John, tertiary of really all we, a color

production does That's OEMs idle that the you necessarily or deal. it has to know have where sources because around suppliers delay part only to So, thing direct well have me The there as they've that weeks comes other the but not some are to need. but facilities supplying auto to days for parts sure they shipments our we other supply don't mind related that the there it all do restarts been shifts prepared some will or of is had we're they for steel. that happen, for us, that. impact, be pretty of is I'm

John Tumazos

the it us ArtiFlex color Were steel holding just in each on there no charges revenue red those quarter? some the Serviacero to in Could in or and loss was you give case? some being and

Joe Hayek

is This John. the latter

John Tumazos

If about last with putting one accounting I me, ask couple could thank Nikola, up question and questions. you for

next going implication? item, So, if quarter a a the in pre-tax mark-to-market, does tax to be report it non-cash First. that's any have you

Joe Hayek

realized We gain. would tax only pay a on a

John Tumazos

not provide just deferred taxes that you it the all? line tax for are is or at Will in

Joe Hayek

in line Yeah. the tax be It at wouldn't all.

John Tumazos

every quarter It's not there's It's just a hopefully nothing. no paper never write-down. – write-down tax, write-up and

a and question, Next this is hypothetical.

later be can't excited us, Worthington the Will a shares the and of whether taxable electric decide at just that or or all hydrogen I or so about trucks. return answer to for And let the dividend us of you it Worthington If specific. for stage we're will this for Nikola be a being if now, event capital? apologize right you shareholders, a

Joe Hayek

tax same all scenario. quite the the That's right. they consequences given would be as for us Hypothetically, would be in any

So, would and for pay is pay corporate the we would whatever them. shareholders appropriate the tax

John Tumazos

So, you taxes the would you pay shares. distributed if

Joe Hayek

are experts That from talking is people to that tax. our Yes. in understanding

John Tumazos

and Let too stations interject. uncomfortable focused build makes high read every what much. auto tries charging much not Nikola. that where trucks, like on product I'm one like in it's state economy to about do me to but cars, end I analyst, I'm an just cars, Tesla that I've I

comfortable I a a bolts a nuts think if and works for [whose is as you held Mark Nikola it and minor, businessman and grow, that I'd focused the has networks] happy be on shareholder. a just while Worthington very a more Nikola let and model,

John McConnell

Thank you, John.

John Tumazos

best. the All

Operator

SC of the from Your comes next question line Fundamental. from Edward Collery

open. line Your is

Edward Collery

me. morning. Hi, alarm a so here my for quick sorry fitted that. question. in Two hearing fire here, launch questions guys, test Good is Thanks if anyone I taking from

some but term the I’d the and is longer and XX-K wondered topic. risk, just vehicles so hurt that you the provide have other a you know, get [indiscernible] that context be the much, maybe your more interested on, if and question, to something around maybe is thoughts business first can The cars

you guys threats or new long-term are wondering markets maybe in competition competition, of your technological and end know, disruptions in So, lines? from seeing new obsolescence, if competitors and specific forms either your legacy specifically or business any you

John McConnell

your having catch it bit heard now I I'll really you. product of lot question. first didn't part little question, a think experiencing in our, we're obsolescence, different respect the technological of I of right With to we're Yeah, that parts I hard don't hearing your businesses. lines time though. or a call

Edward Collery

was That hear Can mostly question. the you now? me better

John McConnell

bit, yes. Little

Edward Collery

All right.

wondering in Sorry Yeah, know, just you're if, long-term forms for you you any your know, shifts of markets your be, in you are, that. to about demand know, seeing, impacting end know, you I'm if or new competition, you know, going maybe products. are

Joe Hayek

we is Joe. and steel scene, business. to we competition. joint long-term. our business to hard you people newer Yeah, assured, emerged They as we are it respect that's haven't about always and several or can with sort the can make successful on can things know, certainly or it’s cylinders rest know enter say This to are our but our Whether ventures, with we folks we talking entrants in them. of the we I who to Long-term, in of competitors XX noticed different. realized have days as try that all you're mean, happen anybody those and last compete

John McConnell

to for I is environment, we you is, know, things experienced add, I of for well-positioned politically is I chains. likely are and current of COVID supply U.S., near-shoring products products, And know, protectionist the somewhat helps you you certain some sure. think have we know, guess, outcomes benefit or And and of to which is, think, the one might I of from re-shoring you that critical be, that the our the of know, one

I but think likely. already, we've more seen some of than that

Edward Collery

to improve I'm in you efforts you guys vehicles, in but but the probably a sort wouldn't you demand way that, I to with know, the want for hurt hurt appreciable towards mileage wondering, doesn't that. know, think, any the know, to seem you Okay, and your and want confirm doesn't shift electric business products, just to of cars confirm yet just have

John McConnell

demand vehicles. any haven't we loss experienced electric appreciable from mean, I

country. I more believe that as vantage counter and there the more we’re there know, you, from the our and on done are processor vehicles efficient business – PWB, hit there, light-weighting our that know, for loss in best that, You the some recently. and we steel market will other benefit on capitalizing electric we frankly, we know, the that is, from an going take us, products we've to things you laser that welding in could to road, it's but have opportunity And is tell demand automotive. be share point and most And expect right?

down So, you right a us the opportunity it's threat, road, huge it's but a for now. know, potentially

Edward Collery

or covered the a second typical do you. that guys my to great. you came Okay, then of more know, structured it investors by they guys that how agreement question guys And Thank regarding seemingly lockups? agreement? is the six-month Was of have I'm you you unique negotiation lockup their mentioned. lockup agreements, just or early wondering, terms you undertook all the

Joe Hayek

something we're though. the about. – Appreciate we talking planning that can you on Not question. Thank

Edward Collery

got Thanks, it. guys. Okay,

Operator

question next Exane from Rosenfeld comes Your line BNP. Seth from and

open. is line Your

Seth Rosenfeld

in just any us QX, steel you there, normal windfall losses, some color somewhat to I current a that was give secondly, order past levels. little perhaps with regards compare prepared order to some fiscal give pre-COVID with And in with in reference for remarks automotive and processing follow-up questions. to regards the how to potential periods? able perhaps scale ups of taking to more follow bit you Thank if you're those commented to might are losses you for regards intake wondering I may, windfall business, few expectation color a then to If on able the book,

note that. you So, didn't

of about coming to you. furloughed think are of volumes? Thank your workers as half that June, should already we of back work proxy think I a of for as end something

John McConnell

XX.X and Yeah, I parts mean, some of because know, million] different facilities obviously Seth production partly in supply I things a of issues data up would to you ramp for for cars know, forecasts been of point times opening customers, the and this they're up maybe versus little different you already. demand bumpy, the other is you for weeks the, weeks you at of I know, guess you IHS the lost X XX.X original year, X terms our and, chain has of but, we [XX.X, what know, to saying

do expect back automotive level, we certainly yet, and July be by not hasn't shutdowns of you the quite for in So, but that if be know, It's it it normalized will kind July there to up less are the ramping a probably changeover. already. going to

understood expect So, normalized I'm getting that question we're or I soon. to back pretty shocks I we here sure to the would … expect not first levels of your part

Seth Rosenfeld

No.

inventory Sorry, for holding losses. the

John McConnell

one, Yeah, us what Seth, at really proxy on could look look at time, a happened I March, over the and in get prices. for know been it. reasonable if you in It's of of while. pretty probably ton a sort around starting that per And steel you've decline you the hot-rolled course based for

You to want actually would likely did be gain of some probably, of those we a the in John, would know, tax, deferred correct, questions our but on investment record QX the one on we thing in one would around was tax I Nikola. it netted,

Seth Rosenfeld

much. very Thank you

John McConnell

Sure.

Operator

call I [Operator there questions back further no are turn company. Instructions] And the at over time. the to this

John McConnell

well forward us joining to day you hope for produce I safe. results you all quarter and continuing good call. for earnings stay your look for you to finish our Thank fourth and

Joe Hayek

Thanks, everybody.

Operator

call. Ladies conference and Thank participating. for gentlemen, this today's concludes you

disconnect. may now You

Worthington Industries (WOR) 25 Jun 202020 Q4 Earnings call transcript