WOR - Earnings call transcript Q4 2024 | Worthington Industries, Inc.

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Operator

Good morning, and welcome to the Worthington Enterprises Fourth Quarter Fiscal 2024 Earnings Conference Call. [Operator Instructions] This conference is being recorded at the request of Worthington Enterprises. [Operator Instructions] I'd like to introduce Marcus Rogier, Treasurer and Investor Relations Officer. Mr. Rogier, you may begin.

Marcus Rogier

Krista. you, Thank and XXXX everyone, Worthington Fourth Enterprises Good Call. welcome Fiscal Earnings Quarter morning, to On we Worthington's call Executive Operations our today, Officer; and Worthington's Officer. and Chief President Joe Hayek, Chief and have Financial Andy Rose,

yesterday that we statements certain made that risks are meaning the that release the suggested. more subject today differ We actual to actual Litigation Please issued to market Securities uncertainties results results the statements XXXX to within from to get Private refer earnings started, could forward-looking close. Reform differ detail Before those our on like could to of after it for note cause I'd are Act. those and These materially. factors cause

non-GAAP measures is of is Relations A our be on our include and In press website. website. financial the measures. with available a on later call replay most measure GAAP addition, which these our included comparable in release, Investor Today's appropriate earnings reconciliation today available the made recorded, discussion is being will will

for I At Andy over to remarks. the call point, will turn this opening

B. Rose

had and you, respectable EBITDA of good morning. I We Worthington Enterprises' with want quarter Thank $X.XX. adjusted million Fiscal earnings Fourth Marcus, per of Earnings Call. welcome $XX you adjusted Quarter to and to a share

long-term could work, towards proud our I and business, of of acquisition well to We recently transactions, stewards positioning our Both Sustainable lot we that and great transitioned long-term for and portfolio through carry X.X above-market not transactions Composites. our focus good of but quarter on of the create of out on are Energy be was a for our the every growth innovation a The hard of a our announced our also success. as busy have had strategy day. We us Hexagon value M&A people shareholders. front, business capital are Solutions Hexagon venture and and driving more formation a the the with M&A. examples teams years Ragasco joint work executing last positioning X of further how stand-alone continued

Hexagon market global into composite cylinders for composite the in produced household applications. we leader and Hexagon First, liquid in its liquefied a pioneered XXX Ragasco countries. consistent LPG XXXX composite in industrial propane leisure, makes selling for gas highly efficiently technology Norway acquired in lightweight the with used and today manufacturing automated world, cylinders and quality most gas cylinder facility Ragasco,

acquisition our Portugal, and This portfolio Building expands in and of product is complements segment now part our Products our operations extends our global reach.

also to with provide they we venture Composites, and has on to transport make of U.S. value formation Sustainable of a has better the ventures will market better capitalize strong a partnership business and emerge. been slow opportunities maximize history develop our and this announced in Hexagon a partners long-term hydrogen Europe, to natural Second, the leader with hydrogen gas. Energy as the creation. a platform storage a The global joint joint long Solutions establishing compressed business Worthington and of and of in

brighter and no capital, strategic This of longer a move reduction rather the ownership a results through a be remaining the JV. our maximize will on earnings Hexagon future our equity the earnings already will Our basis entire team interest Worthington for team are Hexagon Composites invested would working formed flow hard business. income. I welcome consolidated potential we of newly prospect alongside Enterprises, in in but Ragasco SES to reported to higher of the like to

primary Products businesses pillars Products are now enterprises. our mean Worthington Consumer above The of Building the changes and

achieve accelerated business M&A to We enable Worthington innovation transformation, in of the continue to system will to us and earnings. implement growth

enhancing our further sustainable innovation and value on better to particularly can our that significant make and products technologies faster so are incorporate deliver more focused we customers valuable to will capabilities, today and us market bring We more partner. a

collaboration solutions recently Foundation award to IF the design and a evidenced the category IoT our gold from German business won Innovation series with customer, renowned household the from NEXI GALP, received As in in Design our appliance Awards. consumer

our Wall Elite grills X by XXXX grills recognized Street Griddle Additionally, XX CNET year Journal. HALO was best best Series as the the and the by of of the of

us the Hexagon products, in new expertise growth we is Our consolidated returns markets. M&A, brands which help drive higher and transactions strategic by add new showcased will as and

making in now not better situations return. no walk long-term a off example to Joe? through as Joe be also the than to we where creation, you just only this Enterprises, numbers. We and disciplined of continue deliver can but stewards There is We're value completed. to will of investments will transactions earn better start Worthington good new capital capital, redeploying the a

Joseph Hayek

of in operations venture several you, continuing the a onetime incurred and energy of restructuring, space. QX, during our Sustainable segment Hexagon in we a These sale reported we global earnings Solutions as our of loss the formation items Thank prior primarily leader charges charges in and per from or of were were basis, Andy, and per impacted current a joint that There related a results, $XX Composites, the impairment share pretax versus of with quarterly following: GAAP million Energy XX% year. $X.XX of the On $X.XX the unique quarter. part everybody. to of morning, share $X.XX clean good share a the including

due largest costs related other smaller the at to Results in eliminated costs our processing steel separation, corporate and negatively business, prior items. impacted were that of along the quarter with items, time per to were of the separation year nonrecurring being $X.XX by several share

lower was EBITDA to balance quarter million profit for $XXX gross to up Despite year and the XX-month of $XX XX.X% million, Gross adjusted in per a our year. operations decreased net XX-month down the QX $X.XX across quarter segments these very due decreased $XX in was quarter was a prior and million QX EBITDA quarter the from with earnings flows the million free $XX is margin of we lower our trailing strong and $XX in to last adjusted cash of Excluding from $XX compared million million in last slightly Adjusted respect to XX.X% cash With from $XXX was QX to QX decreased of sequentially. and XX.X% $XXX in trailing from in cash million margin volumes, all in a operations year in the sheet, the only year. Consolidated QX EBITDA from adjusted our generated $XX year, $X.XX current items, flows from volumes continuing per now flow share last to share sales of million million. ago. of compared XX.X%.

million quarter, projects. the invested mentioned $XX We we million June spent in acquisition, to was previously deposit closed During million acquisitions, paid on the Ragasco primarily million related facility $X dividends. which $XX capital Hexagon and a for modernization X, we which which projects, included on on $X the

We net also conversion our from rate received quarter, XXX% $XX million income. the in on during a unconsolidated equity dividends cash JVs

those they're which have to expected spent fiscal to by the about approximately the fiscal completed on related projects the be $XX we next be early modernization will to out CapEx in spend facility spread and XXXX. projects, $XX For years year, million and over remaining million full we X

X%. acquisition, and at June the to around the with We balance liquidity liquidity, net JV's bank of with $XXX Continue yielding with well leverage early credit long-term to balance carrying million of than cash, of funded approximately turn million quarter Hexagon our and this positions. with at Looking ended a positioned in low the combined an sheet including average a interest quarter we facility. Ragasco million $XX we debt sheet, million trailing to $XXX We to of rate EBITDA related strong ending that formation. cash $XXX Hexagon with of are of exceptionally received operate complete extremely leverage, debt an net ratio X.X%, used proceeds ample less undrawn from X.XX the

business we in we're QX In quarter, year. Consumer ago. million, returns year of sales compared were which QX shareholders. of and the margin businesses. a prior dividend of year. X% $XXX The decrease is QX our to payable of to lower share that's Yesterday, XXXX the Board the $X.XX per for and net the EBITDA to of in increase a in and result quarter, shareholders million Worthington to last Products, be each dividend adjusted very $XXX were in XX.X% for on Adjusted declared down $XX rewarding Consumer growth was down $XX minutes pleased million XX.X% a Enterprises continue as spend few September to businesses capital the able the relative was last with in a our now We'll XX.X% volumes, market-leading EBITDA to which was balance million a from

when compared prior had higher related generated for the that in EBITDA year and adjusted a was we growth. negatively that outdoor in to to slightly decline quarter in on have and QX. also to pulled consumers believe volume into discretionary relative pulled comp tough back that purchases also results, that the impacted of a tools are volumes investing business discussed products prior our was result as lower quarter, as QX business last year SG&A living our forward we record was business future we The We but by primarily

inflation by age are indications and is homes. While less over consumers with median and years the XX a on to to trends used solutions maintain challenged now spending in tools favor be companies of innovative those there that and home and repair nonessentials, the U.S. are continue long-term

correlated will our run results. moving publications we and outdoor consumers, destocking addition, living praise and more to forward win for has course point-of-sale products demand be those and believe In products continue its with from

product million especially We generated end market-leading remain home QX, the heading destocking. activities, driven lower we into heating affordable and year favorable million $XXX brands continued a Building of by in are sales was outdoor see and have important $XXX some of of fiscal year. XX% improvement that The a net large a less lineup celebrations volumes, from and our to living which part ago. optimistic format down in products market, new projects, solid mix decrease and

heating will destocking We -- normal levels and summer return normally are fall to seasonal the for optimistic course a more that run time in this its this demand season. cycle

margin compared QX to bottom and job XX.X% of and earnings to products improve construction quarter, continued some the contributed do care across customers lines, top relative volumes quarter. $XX quarter EBITDA year The driven but $XX and equity returned continued slightly lower to $XX strong volumes for quarter year. volumes as great decrease and taking near the results, earnings deliver a continues WAVE the equity at largely and and ago. by was team to water XX.X% in ClarkDietrich. compared strength generated lower of created million seeing multiple from of adjusted from adjusted for competition regional Our The them. a $XX to million $XX and contributed margin million last the year was pricing normal Building compression ClarkDietrich Products has markets in have million business end in its players prior cooling of record to million up well. our seasonally a in very million on the EBITDA in $XX

year, of $XXX the us. earnings WAVE generated For million equity record for

good trends are in a Sustainable while QX, value and million The $X $X adjusted generated year positioned done demand $XX net very destocking and of Products its normalize. sales million managing Building Solutions that job compared occurred to EBITDA customers, very has million ago. as million Energy enhancing the they and well and through for a In proposition XXXX, fiscal $XX team

Solutions JV, I Energy interest Hexagon occurred on earlier, in As turning we our business during of XX. Sustainable which own an Composites, sold XX%. business an May mentioned unconsolidated that we effectively the into quarter, This to

reported results with being historical other, expenses. in along for So corporate unallocated QX and SES are

flow Going XXXX QX, with fiscal to corporate and forward, equity related SES starting profits our loss other. or through any will income within

to might are have. take that we questions people this At happy any point,

Operator

Kathryn Research first [Operator Your Thompson question comes with Group. from Instructions] Thompson

Brian Biros

Kathryn. for big a in saw touched On during remarks, is I you on know actually you the prepared This quarter. ClarkDietrich, on Biros Brian it the drop

level was I maybe And You it's for parse touch off price kind there? the settle drop into mentioned And comp I that new then can outlook know March that overall off, much guess we a compression, versus tough out of first coming facing competition. highs. just on as volume you anyway. COVID the part how this in after

Joseph Hayek

Sure, Brian.

new And and they the the that it to different remember, X/X pretty -- things. It down, are were competitors story. all people So that wasn't they're steel do volumes. related Volumes slightly was, hung but compression in There margin in prices well. fact, fluctuating. that --

and customers. look job feeling care at kind done so as of and of this their pretty this kind their a of of great taking quarter quarter they've maintaining performance And share troughy. We

you if that, be kind that so reasonable. And should annualize of

Brian Biros

done then Got back on segment, mentioned. touch guess out segment on it. looks of margins ClarkDietrich, I maybe product pretty and for like the down, well Products But there were there for you mentioned. you the the everything again, the building as on Building if margins headwinds the it And you core just you the has the Products margins? Building can puts takes core JVs, mostly given then

Joseph Hayek

right where are Yes. It's feels now. again, it we

been higher-margin X.X% the was that I troughy. think are JVs. where has feels acute. most the really The we also products destocking ex have it EBITDA margins That

that format heating runs This summer, that, think you think large market. about course. its so of we that destocking kind And

cranks And there their with fall some the business. ought business really anticipate normalcy, margins some and growth along in so the up, when improvements return heating and more then cooling in to back the to we water and continued that season help

B. Rose

Yes.

good particularly to see some think, the segment. in of of water the of opportunities, results of and that I by starting the the has in improving Joe segment in of the talked profitability there, a Brian, team we're the about terms past lot work

So well. as that during probably the helped quarter

Operator

Sachs. Your comes with Maklari next of the Susan question from line Goldman

Charles Perron-Piché

the This revenue the on the Maybe transaction? for Maybe found is Susan. synergy behind think first, deal, Charles expand And cost. you Hexagon can both can do maybe Ragasco and Perron from acquisition? you rationale you you this the how generate in

you can portfolio footprint. extends your it details think provide I Any that noted and geographic that? you on

B. Rose

details you from, the transaction Yes. last where business Hexagon it they going were sale for publicly year. I -- the was mean some came up put maybe give to Joe announced can about the but

business strategic of And product. Hexagon of a clear and in aware market honestly, we're the Type is And were for so in it's one, type for already X we because the it. -- us perfect this fit we're in leader Europe

So will to we be publicly because don't said the get there better. in and think us. business are and we've have sort understand I of synergies for

hard this will that here, us is most operations measure to the of have. world. they're the one a of already plant tell not bringing in I terms be probably able But some is probably things of it's automated existing you synergy going in but manufacturing and the with is cylinder And help processes happening our already -- to to technologies that they

a product only not product but is market and be they that as So they're leader should us in benefits to the well. set it some a have, great there

Joseph Hayek

around space. is Andy Composites Yes. a the is Ragasco company conversation started great business, the The And right. energy honestly clean but Hexagon absolutely in Charles,

the and couldn't into And so the grew team ultimately and the the the with included one morphed between and And conversation we JV. that people Hexagon Worthington. similarities happier be cultural and

really and was on early, both planet far but could have the fronts. X.X it's of done with, that kind we It's -- these was the this of really in, only so good weeks this so transactions on And kind company right? so only

Charles Perron-Piché

product from And I your Got by little But it. Got are quarter, little what decrease in months? consumer what demand maybe can segment? the more consumer you talk I hearing seeing bit you entering it. your about summer think, this surprised and the was you're bit for a XX%. volume a customers the

Joseph Hayek

in spending, the some in consumer suggested great have of kind because decrease not you track be February, But them. and to know but January, camping were sort a talked this position of the a that volumes, of were. of was is which the additional work Yes, of, the other victim follow, needed to and guys retail about December, that keep Charles, folks gas question. all provide our cold that that and and we good softness really needed of and became those able surge of living own supply consumer in it's there our some a We weather kind where some outdoor in products QX, in the we because were volumes to success primarily there customers we spaces, there additional team particularly storms of the almost is very in cylinders I and

But think get in dislocation lose will that as are the didn't X.X still and and And were that is in I normal. to to in COVID. tell space were in its -- Volumes they slower influencing seen QX, than have stronger then would what softer it's you this Andy far things close And Nothing QX, far, continue pretty flipped a what mentioned effectively back bit different outer earlier, QX so thus was share. have full We seasonality if that to factors I almost regard. some back it's bounced are. of sales from a happened that and they year. a this there there's soft normally those some were head to normally only on you as again, as normal little as market living they weeks. have QX

Operator

Your the CJS next question Daniel with comes from Moore Securities. of line

Dan Moore

a here. WAVE next feels about little it's expectations like mentioned at Maybe as ClarkDietrich a for several basis. ClarkDietrich, forward-looking just well? for on profitability about your activity and How over then talk troughing And we quarters both do this bit demand WAVE for you levels and the think

B. Rose

about There's bit for bit though construction. bit these I are they're demand we've ClarkDietrich front related a right of cycle. a the construction, steady. Yes. end on of of in past the -- sort little basically is quarters. a But little different I the places mean little WAVE is the construction even businesses, more commercial overall, in say, more businesses. in both this talked terms now, on bit of These profile in would confusing probably little back demand end a it's different

mean, in there these be steel declining. price businesses. is But quarter-to-quarter, be I of some each may market. it up, may in Right now, the down change it's

of of currently higher-priced And businesses sort so selling both steel. are these

down, prices declines this ClarkDietrich over so when start framing metal And that's impacts lower-priced happened is, steel have coming also that the come they'll really price. to And steel decline, through benefit in prices the as what for for months quickly. the flowing of quite market quarter steel

a them. to Joe for it feel stickier. we bit, little about WAVE, difficult trying good For doing their of But -- price of to more bit both we levels forward. little are pretty But becomes softens teams ability good as environment. in earlier, you And a maintain and demand going job heard mentioned it's a both that these feel kind businesses profit maintain

Dan Moore

basis year-over-year Got around think Really then of the building little on we great fiscal to of the consumer kind kind right into before fall, about cadence to the a tick color of helpful. starting a the state first And about look of Do or the in 'XX kind and softer balance products. way for it. and first being market you is we both out gave the year? X quarter half of think of up that as

Joseph Hayek

Yes.

think streams are us are a and probably think be that mean there are there bit on depends or little trajectory. for value a where that I lines product different others bit, would I a Dan. little I of that certain true,

better. speaking, worse. gotten headwinds don't they've of out the gotten But around mixed little bag. and been a generally have I So that haven't a materially bit think

the nimble enhance as normalize, pretty value and they when we operating we're to we're working and in in And be to take trends can. their comfortable share our teams they demand in and are good propositions shape. to that continue we're so like feel like environment And and certainly feel hard

B. Rose

of do, infrastructure ways. what there's it's That's forecast from pipeline. obviously, and of going the are the that -- to don't the we economy minuses lot One, I hard a material sort to have coming pluses of through businesses I positive. that's government think our impacting Yes. but still is in sort a spending

dialing pretty slowing market the and We That's spend. obviously there. back discretionary are and have consumers good, but of sort up negative. rates, which interest some of housing a holding is Employment obviously impacting their repair is remodel

don't that's still I So markets strong. neutral. Financial know a are whether pretty

and of kind steady and in vantage from So solve puts point, there's noise economy bit somewhat different markets. sort that a of my for here of with products there in little takes a of different at least

Dan Moore

me. Really And helpful. for last one

and your the for the terms competitive in Just on Hexagon well potential Energy does the business, enhance Solutions JV that longer-term a or position your as growth margin of maybe kind with agreement basis? how of as Sustainable organic

Joseph Hayek

Dan. Sure,

So asking for... about margin profiles I us, for the think SES for you're

Dan Moore

equity as opposed On basis of -- as that kind longer-term to the might your table incur does overall. But with to opportunity? an what a a owner Hexagon combined brings owning the

Joseph Hayek

Sure.

an right, JV through from of right? our immediately, what roll So their income. losses will profits drops happens is SES equity unconsolidated the or revenue and out It's P&L,

now I in really that is that a income. that X think $XXX top day in leader essentially immediately in globe. on partner. XXXX, revenue picked was of equity Hexagon got things million that terrific knowledge operate will So better have the kind around a really Type the of happening of we $XXX But We the are around lot formed million, are They fantastic JV. space. and business that the which just through a

if managed, end market potential. in. will, we What that did And own you so be they're will maximize its to change company the operating the doesn't

enough the still very be have markets mature for we take really are it's very develop X-plus but that to And going to so longer years a business. enough and attractive to scalable, believe term, profitable markets that those

in owning addition environment But along we gains drive share with of team forward. ability XX% then the owner we management local any at good JV, kind XX% the feel with as to a venture and hopefully at about operate really for as meaningful us X% and of their go the Hexagon

B. Rose

market here, leader, SES really X, industrial started able we investments business. investments. Type in been an optimize really is a out we've And remember made haven't If you but to those gas as history which Hexagon is the where

going to help economy going of is But and market be hydrogen able market in now is war what's they're European in economies, the to with emerge because where X right on going is the to Europe of really the what's sort that particularly with and Ukraine. Russia on the slow in transition. that's the Type so And slow,

-- to some a extra partner And excited JV. lift bring so we're the it's that's and going have to expertise to some

Operator

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

John Tumazos

Could you've a make the you business carbon plastics, . composites, explain they little are it Hexagon how market? better? more Composite fiber that acquired? are does laminates, go to Are about they they fiber reinforced Worthington it How will

B. Rose

Yes.

So it's a the fiber product wrapping essentially that which market that they're Type fiber, is is in John, XXX% I with selling, carbon is cylinder. the that X cylinder propane plastic guess, a carbon

market sell that that's The sell that are into markets So basic the product. very they customized. -- or they

of very they're type of specific looking product customers So that have their most for.

a their tell that there's marketplace, so They I terms have have go although coverage the don't of that some are into U.S. global manufacturing in would sales their aspects in force. They process. to customized sell you the And lot they own today. market, they

And where they've so -- opportunity on an can a got global we we help can we what already leverage think that's basis.

if follow I up of with, feel question, free that So hits don't know if not. to sort but your

Joseph Hayek

of anything expertise, they nicely continent in M&A what in relationships complement we help facility in is and expertise for I tell is the you, I better. also we It's Portugal their perspective And I a running places. XXXX. with and add world-class that going is them They only add thing XX-ish footprint. manufacturing will better and that right. in well. a percent in this, look attractive of this on Europe own John, had we a very EBITDA absolutely the globally from our have very to to high-class, is, operations make the by mentioned calendar would will an us their automated, in would make lot the they're Andy And us margins -- us our would But lot is sorry, a profitable channels business, the John, Andy thing absolutely

John Tumazos

What is by this be we as up the that it Type something store? preferred it because X? mainstream Is when grocery might consumers heavy pick at isn't

Joseph Hayek

And about be steel sold maybe would you take maybe of to it's the in primary here Blue and Rhino by that something in would you'd else and think somebody's different. the cylinder, it's body's if these fuel think in cylinders source So you You States, exchange are or go or AmeriGas the made or used this home, branded it's apartment of as gets comparison heating where In your your cooking somebody right? maybe you -- tank. right? Europe, or exchange quite and somebody's

have the place do in don't States. over the way lines we all gas natural here running They that the

people And so the the there are quite these so providing so customers matters tanks service place, then and a companies and carrying is bit. customers, and stairs -- residents and are gas who the there the are their up primarily to weight the down all over

lighter cylinder for cases, expensive a its of but steel composite is. lot is it consumers. equivalent and absolutely is, It's far customers this for it than so in And more worth

they composite taken that's tanks have hold reason so that the really have. that And way the

Operator

Genuity. comes Brian [Operator Instructions] Your Canaccord McNamara next from with question

Brian McNamara

year? in last forward different in kind ask quarter volumes And and the pull the of up of years. way decline expecting should Any worse you a felt over know I then couple there's consumer this of been were perhaps I thought? last question than products, destocking we sales. each guess big the you you bit a are But given similar about I'll flagged as you I try color Or and have guess be outdoor would to my which volumes quite in businesses, pain be other helpful. what there drag bigger see to is, a well. guys

B. Rose

Yes.

in where all this couple home, because through things of a had from sort COVID and were loaded of the of years unique we huge at because had up doing we've we a year think bump so I retailers and gone Brian, of product lots were cooking business, high. the camping destocking people then where sales on

normal demand be low that year, is we from starting patterns levels, had the should to back of or an we're year, year. and bit which so I expectation a little probably demand get last this up kind And think abnormally to

as to The other last then retailers related fourth a on, quarter. our kind been of it bit to ability have little quarters, of service from seasonality and odd Joe things X a storms and anticipation to standpoint, touched their but little softness and in led this inventories of up partly a load

getting I a say, normalized would overall, we and normalized a pattern we're demand like So kind of to feel level. back

we'll but tanks this I -- think think XX get a right, million I may I XX-ish, not year see. expectation, exactly but of number kind

Brian McNamara

the curious the appreciate long does in issue? And up so, steel timing is that terms ClarkDietrich? color take ClarkDietrich. how -- I'm I historically if it typically on helpful. is a catch price of impacting to That's just declines for

Joseph Hayek

So -- it your think a and demand plan a gets perspective, from believe having competitive you're like. steel so on forward little of right, mucky because looks prices what the declined, to kind buy based I you yes,

And yes, right? probably of so there's months, a few lag a

Brian McNamara

is since That's Got I've helpful. what split gotten I'm is steel This And you then business. the another question earnings your of one power the company. guys it. a a finally, the view true lot curious maybe for Joe. from

we'll near-term a and run Are primary in it rate? million that adjusted a margin year. are Is call fiscal underearning? so, around EBITDA, the of good what If came noisy You you $XXX starting expansion? drivers in

Joseph Hayek

annualized the is about on base we that When where get clearly basis. business better. to -- talk businesses is at is need that. is this. we're power Sure. for earnings recovery and Not every million, we $XXX we've plans, make businesses seen of speed. EBITDA about higher The and business That want single to us the not to of our We've an running improvement. got and But talked go, this about its example we than we've thinking which internally a one great water constantly ways full of those

Second operating need to and that end had back living things our a between we or streams of and all the they and hangover will on headwind is higher at of the kind kind a to interest be either higher. COVID bump get us. transformation COVID of normal kind of as us. level just to ultimately the of of drivers, where ought value of, ultimately to stuff, growth single to cost tail right, thing so, have every through rates for tailwind, operating is and that our a out continuing Doesn't single us kind and lack call a And it, I'll can just environment, one one our of normalized for be every environment had become but a right, take businesses to that drive be to strategic executing leverage driver margins innovate, then continuing X%

the this, to and And SES of Ragasco good, examples of JV X M&A then decisions. the acquisition XXX% really strategic it's thoughtful formation that. are Andy ultimately, true, a make mentioned and good

be we crystal on so And a those we the factors, based all earnings can't should our have where and I you have team. But we given we ultimately we great feel tell don't tools. have like feel in a ball, of And don't -- we period like a time.

from to here. able be if so we met, to kind we grow of ought And get handful of hurdles a those

B. Rose

would can -- we And you we think materials I said if years, grow goal grow that. from may line disappointed next at I X exceed year. I over Investor think top certainly recall be rates. to in we X% to the is our X X% per to double-digit our Day, don't

our ways, our M&A to of tools is you of in typically margins. mentioned Our there's our goal better, And get higher of transactions. how businesses can to them, some get innovative, launching Joe doing And and XX% new lot those for transformation toolkit. EBITDA which obviously, products are accretive a is lot a playbook, we different margins make that then different

think over to those that, do now, should be strategies, have on the accomplish next got right the does, of the we pretty teams. no of time. we to great feels able I I have we good. execute but if have we period those. it We've goals ability idea, Short And what So economy

Operator

will concludes remarks. now question-and-answer Chief the session, back to Officer, over the This call Executive turn Rose, Andy and for I closing

B. Rose

everyone. Thanks, Great.

Enterprises. we history our and said but about As as the today, proud who excited we I first are quarter, very full we of year fiscal last are Worthington beginning are

shareholders. We team highly of returns for experienced strategies our by an capital have significant and to driven excellent available professionals being drive motivated and

here us So and today. appreciate about we're you future excited with our being

Operator

and may your Thank concludes you conference for This you call. disconnect. today's now participation,

Worthington Industries (WOR) 26 Jun 242024 Q4 Earnings call transcript