$WOR
WORTHINGTON ENTERPRISES, INC.

2016 Q4 Form 10-Q Financial Statement

#000119312517004485 Filed on January 06, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4 2015 Q3
Revenue $727.8M $699.8M $758.1M
YoY Change 4.0% -19.65% -12.09%
Cost Of Revenue $605.0M $590.6M $645.1M
YoY Change 2.43% -20.8% -11.98%
Gross Profit $122.8M $109.2M $113.0M
YoY Change 12.48% -12.81% -12.73%
Gross Profit Margin 16.87% 15.6% 14.91%
Selling, General & Admin $76.49M $72.72M $75.95M
YoY Change 5.18% -5.93% 0.92%
% of Gross Profit 62.28% 66.61% 67.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.70M $20.60M $21.40M
YoY Change 5.34% -2.83% 4.9%
% of Gross Profit 17.67% 18.87% 18.94%
Operating Expenses $76.49M $72.72M $75.95M
YoY Change 5.18% -5.93% 0.92%
Operating Profit $43.04M $11.97M $31.00M
YoY Change 259.54% -63.93% -40.62%
Interest Expense $7.658M $7.799M $7.854M
YoY Change -1.81% -19.4% -17.47%
% of Operating Profit 17.79% 65.14% 25.34%
Other Income/Expense, Net $900.0K $1.000M -$578.0K
YoY Change -10.0% -16.67% -292.67%
Pretax Income $63.38M $34.42M $49.15M
YoY Change 84.16% -26.86% -30.72%
Income Tax $13.52M $8.665M $14.15M
% Of Pretax Income 21.32% 25.18% 28.79%
Net Earnings $46.57M $23.38M $31.97M
YoY Change 99.2% -20.66% -27.62%
Net Earnings / Revenue 6.4% 3.34% 4.22%
Basic Earnings Per Share $0.75 $0.37 $0.50
Diluted Earnings Per Share $0.72 $0.36 $0.48
COMMON SHARES
Basic Shares Outstanding 62.35M shares 62.68M shares 63.99M shares
Diluted Shares Outstanding 64.73M shares 64.66M shares 66.07M shares

Balance Sheet

Concept 2016 Q4 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $175.2M $27.40M $18.80M
YoY Change 539.42% -71.61% -87.2%
Cash & Equivalents $175.2M $27.35M $18.77M
Short-Term Investments
Other Short-Term Assets $77.90M $82.50M $98.80M
YoY Change -5.58% -15.82% -3.7%
Inventory $337.9M $351.2M $382.8M
Prepaid Expenses
Receivables $408.5M $407.4M $431.6M
Other Receivables $8.000M $3.500M $2.800M
Total Short-Term Assets $1.007B $871.9M $934.8M
YoY Change 15.55% -24.47% -22.39%
LONG-TERM ASSETS
Property, Plant & Equipment $571.3M $524.1M $530.8M
YoY Change 9.01% 4.42% 5.28%
Goodwill $243.9M $237.1M $239.6M
YoY Change 2.87% -16.34% -11.04%
Intangibles $88.59M $92.12M $114.8M
YoY Change -3.83% -38.81% -24.98%
Long-Term Investments $203.5M $210.1M $201.4M
YoY Change -3.14% 7.93% 2.55%
Other Assets $27.91M $25.68M $24.50M
YoY Change 8.72% 14.37% -10.14%
Total Long-Term Assets $1.135B $1.089B $36.69M
YoY Change 4.24% -5.54% -96.81%
TOTAL ASSETS
Total Short-Term Assets $1.007B $871.9M $934.8M
Total Long-Term Assets $1.135B $1.089B $36.69M
Total Assets $2.143B $1.961B $2.046B
YoY Change 9.27% -15.01% -13.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $278.2M $266.0M $317.6M
YoY Change 4.59% -18.13% -14.01%
Accrued Expenses $41.82M $61.04M $67.25M
YoY Change -31.49% 0.13% 11.03%
Deferred Revenue
YoY Change
Short-Term Debt $497.0K $49.54M $22.04M
YoY Change -99.0% 360.01% 100.99%
Long-Term Debt Due $873.0K $851.0K $846.0K
YoY Change 2.59% -99.16% -99.16%
Total Short-Term Liabilities $404.2M $451.8M $495.4M
YoY Change -10.52% -21.86% -22.56%
LONG-TERM LIABILITIES
Long-Term Debt $576.0M $579.0M $580.9M
YoY Change -0.51% 0.92% 4.76%
Other Long-Term Liabilities $63.91M $63.43M $56.58M
YoY Change 0.76% 1.82% -23.73%
Total Long-Term Liabilities $639.9M $642.4M $637.5M
YoY Change -0.39% 1.01% 1.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $404.2M $451.8M $495.4M
Total Long-Term Liabilities $639.9M $642.4M $637.5M
Total Liabilities $1.132B $1.157B $1.207B
YoY Change -2.18% -13.41% -13.53%
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 $884.9M $713.0M $749.9M
YoY Change
Total Liabilities & Shareholders Equity $2.143B $1.961B $2.046B
YoY Change 9.27% -15.01% -13.11%

Cashflow Statement

Concept 2016 Q4 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $46.57M $23.38M $31.97M
YoY Change 99.2% -20.66% -27.62%
Depreciation, Depletion And Amortization $21.70M $20.60M $21.40M
YoY Change 5.34% -2.83% 4.9%
Cash From Operating Activities $31.30M $51.10M $138.6M
YoY Change -38.75% 3550.0% 154.31%
INVESTING ACTIVITIES
Capital Expenditures $14.73M $22.00M $38.50M
YoY Change -33.03% -5.49% 61.26%
Acquisitions $2.950M
YoY Change -79.72%
Other Investing Activities $800.0K $6.200M -$1.600M
YoY Change -87.1% -139.24% -96.45%
Cash From Investing Activities -$13.90M -$15.80M -$40.10M
YoY Change -12.03% -59.49% -41.88%
FINANCING ACTIVITIES
Cash Dividend Paid $12.83M $12.07M $11.55M
YoY Change 6.32% -0.6% 14.23%
Common Stock Issuance & Retirement, Net $40.25M $27.58M
YoY Change 91.81% 30.78%
Debt Paid & Issued, Net $218.0K $220.0K $208.0K
YoY Change -0.91% -56.95% -31.13%
Cash From Financing Activities -23.70M -26.60M -110.9M
YoY Change -10.9% 109.45% 286.41%
NET CHANGE
Cash From Operating Activities 31.30M 51.10M 138.6M
Cash From Investing Activities -13.90M -15.80M -40.10M
Cash From Financing Activities -23.70M -26.60M -110.9M
Net Change In Cash -6.300M 8.700M -12.40M
YoY Change -172.41% -117.3% -71.3%
FREE CASH FLOW
Cash From Operating Activities $31.30M $51.10M $138.6M
Capital Expenditures $14.73M $22.00M $38.50M
Free Cash Flow $16.57M $29.10M $100.1M
YoY Change -43.07% -233.06% 226.85%

Facts In Submission

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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
dei Document Type
DocumentType
10-Q
us-gaap Earnings Per Share Diluted
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dei Entity Central Index Key
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dei Trading Symbol
TradingSymbol
WOR
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b>Economic (Non-designated) Hedges</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%" align="justify">We enter into foreign currency contracts to manage our foreign currency exchange rate 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.</p> </div>
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