$WOR
WORTHINGTON ENTERPRISES, INC.

2013 Q3 Form 10-Q Financial Statement

#000119312513396507 Filed on October 10, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $692.3M $666.0M
YoY Change 3.94% 10.57%
Cost Of Revenue $581.3M $572.4M
YoY Change 1.56% 7.81%
Gross Profit $111.0M $93.65M
YoY Change 18.49% 31.05%
Gross Profit Margin 16.03% 14.06%
Selling, General & Admin $71.54M $59.42M
YoY Change 20.39% 31.0%
% of Gross Profit 64.47% 63.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.46M $14.99M
YoY Change 29.85% 16.59%
% of Gross Profit 17.54% 16.0%
Operating Expenses $71.54M $59.42M
YoY Change 20.39% 31.0%
Operating Profit $38.64M $33.42M
YoY Change 15.62% 57.76%
Interest Expense $6.240M $5.259M
YoY Change 18.65% 12.18%
% of Operating Profit 16.15% 15.74%
Other Income/Expense, Net $10.90M $200.0K
YoY Change 5350.0% -50.0%
Pretax Income $70.29M $50.97M
YoY Change 37.9% 22.54%
Income Tax $13.93M $16.10M
% Of Pretax Income 19.82% 31.59%
Net Earnings $54.56M $33.96M
YoY Change 60.64% 32.39%
Net Earnings / Revenue 7.88% 5.1%
Basic Earnings Per Share $0.78 $0.50
Diluted Earnings Per Share $0.76 $0.49
COMMON SHARES
Basic Shares Outstanding 69.60M shares 68.28M shares
Diluted Shares Outstanding 72.08M shares 69.57M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.0M $30.50M
YoY Change 296.72% -17.34%
Cash & Equivalents $121.0M $30.48M
Short-Term Investments
Other Short-Term Assets $73.90M $71.10M
YoY Change 3.94% -19.84%
Inventory $376.7M $383.6M
Prepaid Expenses
Receivables $436.2M $359.7M
Other Receivables $2.400M $1.400M
Total Short-Term Assets $1.010B $846.2M
YoY Change 19.39% -1.45%
LONG-TERM ASSETS
Property, Plant & Equipment $503.9M $440.9M
YoY Change 14.29% 12.67%
Goodwill $213.6M $156.8M
YoY Change 36.3%
Intangibles $163.4M $98.70M
YoY Change 65.52%
Long-Term Investments $184.4M $244.1M
YoY Change -24.43% 3.96%
Other Assets $17.49M $18.90M
YoY Change -7.47% -19.23%
Total Long-Term Assets $1.083B $1.105B
YoY Change -1.98% 40.4%
TOTAL ASSETS
Total Short-Term Assets $1.010B $846.2M
Total Long-Term Assets $1.083B $1.105B
Total Assets $2.093B $1.951B
YoY Change 7.29% 18.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $311.2M $237.9M
YoY Change 30.82% 8.38%
Accrued Expenses $38.72M $38.63M
YoY Change 0.23% -48.35%
Deferred Revenue
YoY Change
Short-Term Debt $62.19M $51.23M
YoY Change 21.38% -75.51%
Long-Term Debt Due $1.099M $1.256M
YoY Change -12.5%
Total Short-Term Liabilities $504.3M $392.7M
YoY Change 28.41% -23.36%
LONG-TERM LIABILITIES
Long-Term Debt $405.9M $407.1M
YoY Change -0.28% 62.64%
Other Long-Term Liabilities $65.08M $69.37M
YoY Change -6.19% 6.23%
Total Long-Term Liabilities $471.0M $476.5M
YoY Change -1.14% 50.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $504.3M $392.7M
Total Long-Term Liabilities $471.0M $476.5M
Total Liabilities $1.123B $1.013B
YoY Change 10.81% 5.15%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $857.6M $741.1M
YoY Change
Total Liabilities & Shareholders Equity $2.093B $1.806B
YoY Change 15.93% 9.73%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $54.56M $33.96M
YoY Change 60.64% 32.39%
Depreciation, Depletion And Amortization $19.46M $14.99M
YoY Change 29.85% 16.59%
Cash From Operating Activities $94.46M $71.00M
YoY Change 33.05% -578.42%
INVESTING ACTIVITIES
Capital Expenditures $13.35M $16.71M
YoY Change -20.06% 158.11%
Acquisitions -$52.96M
YoY Change
Other Investing Activities $66.20M $6.600M
YoY Change 903.03% 740.76%
Cash From Investing Activities $52.81M -$10.12M
YoY Change -621.79% -76.58%
FINANCING ACTIVITIES
Cash Dividend Paid $8.150M
YoY Change 13.68%
Common Stock Issuance & Retirement, Net $28.32M $10.86M
YoY Change 160.85% -60.09%
Debt Paid & Issued, Net $284.0K $442.0K
YoY Change -35.75%
Cash From Financing Activities -77.61M -71.43M
YoY Change 8.65% -284.26%
NET CHANGE
Cash From Operating Activities 94.46M 71.00M
Cash From Investing Activities 52.81M -10.12M
Cash From Financing Activities -77.61M -71.43M
Net Change In Cash 69.66M -10.55M
YoY Change -760.51% -45.33%
FREE CASH FLOW
Cash From Operating Activities $94.46M $71.00M
Capital Expenditures $13.35M $16.71M
Free Cash Flow $81.11M $54.29M
YoY Change 49.39% -354.75%

Facts In Submission

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<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Economic (Non-designated) Hedges</b></font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We enter into foreign currency contracts to manage our foreign exchange exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative instruments are adjusted to current market value at the end of each period through earnings.</font></p> </div>
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