Worthington Enterprises shares jumped more than 10% Wednesday morning, holding a 10.1% gain as of 12:37 p.m. ET, after the company signaled it will further define its business segments for investors at an Investor and Analyst Day on Nov. 10. The company, which changed its name from Worthington Industries nearly three years ago after spinning off Worthington Steel, has not held an investor day since that change. Worthington wants investors to know it has a sharp focus on high-demand construction, heating, and cooling products, including demand from data center construction, making it an under-the-radar data center play for some investors. Double-digit sales growth in its most recent quarter was propelled by demand from contractor end-users and varied distribution channels, bolstered by a predominantly domestic manufacturing presence. Water tanks used for liquid cooling in data centers, where momentum continues to build, will now be grouped under Worthington's Building Performance Solutions business segment, while the newly named Trade & Specialty Solutions group will focus more on general construction products.
Worthington Industries IncCompany highlights sharp focus on high-demand construction, heating/cooling products and data center liquid-cooling water tanks, with double-digit sales growth from contractor end-users.
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