Worthington Enterprises, Inc. (NYSE:WOR) Q2 2024 Results Conference Call December 20, 2023 9:00 AM ET

Company Participants

Marcus Rogier - Treasurer, IRO

Andy Rose - President, CEO

Joseph Hayek - CFO, COO

Conference Call Participants

Phil Gibbs - KeyBanc Capital Markets

Daniel Moore - CJS Securities

Operator

Good afternoon and welcome to the Worthington Enterprises Second Quarter Fiscal 2024 Earnings Conference Call. [Operator Instructions]. This conference is being recorded at the request of Worthington Enterprises. If anyone objects, you may disconnect at this time.

I'd like to introduce Marcus Rogier, Treasurer and Investor Relations Officer. Mr. Rogier, you may begin.

Marcus Rogier

Thank you, Joe. Good morning, everyone, and welcome to Worthington Enterprises second quarter fiscal 2024 earnings call. Results for our second quarter reflect the performance of the pre separation consolidated Worthington Industries, including the Worthington Steel business, which became a standalone publicly traded company on December 1. Given the recent separation, today's prepared remarks will primarily focus on the consolidated results, as well as the performance of the remaining business segments within Worthington Enterprises including building products, consumer products, and sustainable energy solutions.

Worthington Steel will be hosting their second quarter earnings call separately on Friday morning of this week at 8:30 AM. So, we'd please ask that you hold any questions about the steel processing business until then.

On our call today, we have Andy Rose, Worthington's President and Chief Executive Officer; and Joe Hayek, Worthington's Chief Financial and Operations Officer. Before we get started, I'd like to note that certain statements made today are forward-looking within the meaning of the 1995 Private Securities Litigation Reform Act. These statements are subject to risk and uncertainties that could cause actual results to differ from those suggested. We issued our earnings release yesterday after the market close, please refer to it for more detail on those factors that could cause actual results to differ materially.

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

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

Andy Rose

Thank you, Marcus, and good morning, everyone. What a year it has been. I want to start the call by thanking our employees who have gone above and beyond to make this separation successful. Our people have stayed positive in the face of change and worked tirelessly to set both companies up for success. I am confident that the work done by our teams to create Worthington Steel and Worthington Enterprises was best-in-class. I also want to thank our customers for continuing to have confidence in Worthington Steel and Worthington Enterprises throughout this process. Both businesses performed well over the past 15 months and I know these two companies are better positioned for success today as two separate entities than when we began this journey back in 2022.