Worthington Industries, Inc.

WOR: 10-Q · periodic report

Worthington Enterprises reported Q1 fiscal 2027 (quarter ended August 31, 2026) net sales of $343.9 million, up 13.2% from $303.7 million a year ago, driven by growth in both Building Performance Solutions and Trade & Specialty Solutions. Diluted EPS rose to $0.87 from $0.70 (adjusted EPS $0.82 vs $0.78), and adjusted EBITDA grew about 10% to $74.0 million from $67.2 million, with strong contributions from the WAVE and ClarkDietrich joint ventures. The company amended and restated its $500 million credit facility, extending maturity from September 2028 to August 31, 2031 with no borrowings outstanding, and repurchased 335,000 shares in the quarter, leaving 4.23 million shares authorized. Management flagged rising steel and tariff-driven aluminum costs and soft, uneven end-market demand (elevated mortgage rates, weak builder sentiment) as key near-term headwinds, but expects the growing A2L refrigerant HVAC installed base to support long-term opportunity.

SEC 10-Q•16d ago

WOR: 8-K · earnings release

Worthington Enterprises reported strong fiscal Q1 2027 results: sales rose 13% year-over-year to $344 million (7% organic), adjusted EBITDA grew 10% to $74 million, and adjusted EPS was $0.82 versus $0.78 a year ago. Free cash flow was a highlight at $54 million for the quarter and a record $196 million trailing twelve months (116% conversion). A key growth driver is data center exposure: ASME liquid-cooling tank revenue hit $13 million in Q1, matching all of fiscal 2026, with sequential growth expected through the year. Headwinds included an estimated $7 million adjusted EBITDA impact from the A2L refrigerant transition comparison in Cooling and Construction, plus tight steel availability costing a few million dollars. Separately, the Board granted CEO Joseph Hayek 150,000 performance shares vesting if the stock averages $100 over 90 days within five years, and shareholders re-elected three directors, approved say-on-pay, and ratified KPMG. A $0.20/share quarterly dividend was declared payable in December 2026.

SEC 8-K•0mo ago

Worthington Enterprises Reports First Quarter Fiscal 2027 Results

Worthington Enterprises reported Q1 FY2027 net sales of $343.9 million, up 13% year-over-year, including 7% organic growth and 6% from recent acquisitions. GAAP EPS rose to $0.87 from $0.70, adjusted EPS increased to $0.82, and adjusted EBITDA grew 10% to $74.0 million. Free cash flow nearly doubled to $54.0 million from $27.9 million. The company repurchased 335,000 shares for $18.2 million and declared a $0.20 quarterly dividend. Management highlighted growing demand for engineered ASME tanks used in data-center liquid cooling, and results benefited from $4.0 million in net IEEPA tariff refunds.

•1mo ago

WOR: 8-K · material agreement

On August 31, 2026, Worthington Enterprises amended and restated its five-year revolving credit facility, entering into the Fifth Amended and Restated Credit Agreement with a syndicate led by PNC Bank, National Association as administrative agent. The refinancing keeps aggregate revolving commitments at $500 million but extends the final maturity from September 27, 2028 to August 31, 2031. The unsecured facility retains a $75 million letter of credit sublimit, a $50 million swingline commitment, and accordion capacity to add up to $300 million of incremental commitments or term loans in $10 million increments. Worthington had no borrowings and no letters of credit outstanding under the facility as of the effective date, and proceeds are earmarked for repaying existing debt, working capital, capital expenditures and acquisitions. The agreement imposes a minimum interest coverage ratio of 3.25 to 1.00 and caps indebtedness relative to indebtedness plus net worth at 55%. The extension locks in revolver access through 2031 with pricing on a leverage-based grid (facility fee of 12.5 basis points as of the effective date, margins of 0.125% to 1.500%), a routine but favorable liquidity move for the industrial manufacturer.

SEC 8-K•1mo ago

WOR: 8-K · other

Worthington Enterprises filed an 8-K (Items 7.01 and 9.01) furnishing the transcript of CFO Colin Souza's August 12, 2026 fireside chat at the Canaccord Genuity 46th Annual Growth Conference. This is a Reg FD disclosure of investor-conference remarks, not a new corporate event. In the transcript, Souza called fiscal 2026 the best year since the steel separation: revenue reached $1.4 billion, up 20% with 9% organic growth, adjusted EBITDA hit $296 million (up $31 million, ~12%, despite a $19 million ClarkDietrich decline), and free cash flow was $170 million at 102% conversion. The company also spent about $300 million on the Elgen and Logansport acquisitions. The most incremental color was on data centers: liquid cooling revenue was $13 million in FY2026 and management expects to match that in Q1 FY2027 alone, calling it a multiyear opportunity. The 50/50 WAVE joint venture with Armstrong generates north of $500 million revenue at about 49% EBITDA margins, while ClarkDietrich equity income fell to $22 million, down $19 million year over year, though management believes those earnings have troughed. Management framed tariffs as a net positive, noting 80% of revenue is manufactured and sold in North America with under 7% sourced from Asia, and said tariffs will amplify rather than create its domestic-manufacturing advantage.

SEC 8-K•2mo ago

WOR: 8-K · earnings release

Worthington Enterprises reported fiscal 2026 fourth quarter net sales of $371 million, a 17% increase from the prior year, with organic growth of 3% and acquisitions contributing $44 million. Net earnings for the quarter rose significantly to $48 million, or $0.97 per share, compared to $4 million in the prior year quarter, driven by a 20% increase in full-year sales to $1.4 billion. The company generated $55 million of free cash flow in the quarter and $170 million for the full fiscal year, representing a 102% conversion rate relative to adjusted net earnings. Adjusted EBITDA for the quarter was $83.5 million with a margin of 22.5%, slightly down from the prior year due to lower equity income from the ClarkDietrich joint venture and margin pressure in the cooling and construction business. Despite these headwinds, the company maintained a conservative balance sheet with a net debt to adjusted EBITDA ratio of 0.9 times and a $500 million undrawn revolving credit facility. The Board of Directors also declared a quarterly dividend of $0.20 per share, an increase of 5%. In addition to financial results, the Compensation Committee approved a special leadership retention performance share award for four key executives, including the CFO and the presidents of the Consumer Products and Building Products segments. Each participant was awarded 25,000 Performance Shares vesting based on adjusted EBITDA and adjusted ROA targets through fiscal 2030. Management highlighted continued momentum in data center cooling products, noting that ASME tank shipments for data centers are expected to reach at least $13 million in the first quarter of fiscal 2027.

SEC 8-K•3mo ago

Worthington Enterprises Reports Fourth Quarter and Full-Year Fiscal 2026 Results

Worthington Enterprises reported fiscal Q4 revenue of $371.5 million, up 17% year-over-year, driven by a 3% organic sales increase and contributions from recent acquisitions. Full-year fiscal 2026 revenue grew 20% to $1.4 billion, while net earnings increased 63% to $155.0 million and free cash flow improved 7% to $170.2 million. The company returned capital to shareholders by repurchasing $18.2 million worth of stock and declaring a quarterly dividend of $0.20 per share, a 5% increase over the prior quarter.

•4mo ago

Worthington Enterprises Increases Quarterly Dividend by 5%; Adds Brad Southern to Board of Directors

Worthington Enterprises declared a quarterly dividend of $0.20 per share, an increase of 5% or $0.01 from the prior quarter, payable September 29, 2026. The board appointed Brad Southern, the retired Chairman and CEO of Louisiana-Pacific Corporation, as a new director, adding over 40 years of experience in operations and building products. The company scheduled its fiscal fourth quarter earnings conference call for tomorrow, June 24, at 8:30 a.m. ET to discuss results released after the market close.

•4mo ago