NYSE: WOR
WORTHINGTON ENTERPRISES, INC.CIK 0000108516 · SIC 3310 · Steel Works & Blast Furnaces
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Worthington Enterprises Q1 sales rise 13% to $343.9M, EPS; declares $0.20 dividend
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WOR: revenue $1.38B, net income $156.1M. WOR revenue +19.7% on three acquisitions totaling; buyback spend, dividend
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Worthington Enterprises reports Q4 FY2026 results with $295.8M adjusted EBITDA, 17% sales growth
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Worthington Enterprises reports 63% earnings growth, completes two acquisitions, raises dividend 5%
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revenue $378.7M, net income $45.5M. Share buybacks drop 14.6% as average price paid rises 31%
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Worthington Enterprises reports 24% revenue growth, completes LSI acquisition
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Latest financial statements
From 10-K filed Jul 30, 2026 (period ending May 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings
(In thousands, except per common share amounts)
| Description | Fiscal years ended May 31, 2026 | Fiscal years ended May 31, 2025 | Fiscal years ended May 31, 2024 |
|---|---|---|---|
| Net sales | 1,381,292 | 1,153,762 | 1,245,703 |
| Cost of goods sold | 1,003,017 | 834,727 | 960,684 |
| Gross profit | 378,275 | 319,035 | 285,019 |
| Selling, general and administrative expense | 294,966 | 268,413 | 283,471 |
| Impairment of goodwill and long-lived assets | - | 50,813 | 32,975 |
| Restructuring and other expense, net | 7,100 | 10,524 | 29,327 |
| Separation costs | - | - | 12,705 |
| Operating income (loss) | 76,209 | (10,715) | (73,459) |
| Other income (expense): | |||
| Miscellaneous expense, net | (3,244) | (3,222) | (17,129) |
| Loss on extinguishment of debt | - | - | (1,534) |
| Interest expense, net | (6,248) | (2,090) | (1,587) |
| Equity in net income of unconsolidated affiliates | 134,631 | 144,836 | 167,716 |
| Earnings before income taxes | 201,348 | 128,809 | 74,007 |
| Income tax expense | 46,313 | 33,839 | 39,027 |
| Net earnings from continuing operations | 155,035 | 94,970 | 34,980 |
| Net earnings from discontinued operations | - | - | 82,841 |
| Net earnings | 155,035 | 94,970 | 117,821 |
| Net (loss) earnings attributable to noncontrolling interests | (1,050) | (1,083) | 7,197 |
| Net earnings attributable to controlling interest | 156,085 | 96,053 | 110,624 |
| Amounts attributable to controlling interest: | |||
| Net earnings from continuing operations | 156,085 | 96,053 | 35,243 |
| Net earnings from discontinued operations | - | - | 75,381 |
| Net earnings attributable to controlling interest | 156,085 | 96,053 | 110,624 |
| Earnings per share - basic: | |||
| Continuing operations | 3.18 | 1.94 | 0.72 |
| Discontinued operations | - | - | 1.53 |
| Consolidated | 3.18 | 1.94 | 2.25 |
| Earnings per share - diluted: | |||
| Continuing operations | 3.14 | 1.92 | 0.70 |
| Discontinued operations | - | - | 1.50 |
| Consolidated | 3.14 | 1.92 | 2.20 |
| Weighted average common shares outstanding basic | 49,073 | 49,395 | 49,195 |
| Weighted average common shares outstanding diluted | 49,716 | 50,131 | 50,348 |
Consolidated Balance Sheets
(In thousands)
| Description | May 31, 2026 | May 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 27,725 | 250,075 |
| Receivables, less allowances of $1,310 and $907, respectively | 228,168 | 215,824 |
| Inventories: | ||
| Raw materials | 110,536 | 80,522 |
| Work in process | 9,490 | 9,408 |
| Finished products | 87,270 | 79,463 |
| Total inventories | 207,296 | 169,393 |
| Income taxes receivable | 20,016 | 12,720 |
| Prepaid expenses and other current assets | 41,269 | 37,358 |
| Total current assets | 524,474 | 685,370 |
| Investments in unconsolidated affiliates | 118,048 | 129,262 |
| Operating lease assets | 42,888 | 22,699 |
| Goodwill | 500,784 | 376,480 |
| Other intangible assets, net of accumulated amortization of $106,944 and $88,887, respectively | 322,761 | 190,398 |
| Other assets | 28,215 | 20,717 |
| Property, plant and equipment: | ||
| Land | 8,732 | 8,703 |
| Buildings and improvements | 136,441 | 132,742 |
| Machinery and equipment | 411,030 | 372,798 |
| Construction in progress | 66,509 | 33,326 |
| Total property, plant and equipment | 622,712 | 547,569 |
| Less: accumulated depreciation | 311,818 | 277,343 |
| Total property, plant and equipment, net | 310,894 | 270,226 |
| Total assets | 1,848,064 | 1,695,152 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 115,203 | 103,205 |
| Accrued compensation, contributions to employee benefit plans and related taxes | 41,728 | 43,864 |
| Dividends payable | 9,814 | 9,172 |
| Other accrued items | 45,832 | 34,478 |
| Current operating lease liabilities | 7,982 | 6,014 |
| Income taxes payable | 867 | 109 |
| Total current liabilities | 221,426 | 196,842 |
| Other liabilities | 56,657 | 53,364 |
| Distributions in excess of investment in unconsolidated affiliate | 105,349 | 103,767 |
| Long-term debt | 305,896 | 302,868 |
| Noncurrent operating lease liabilities | 35,883 | 17,173 |
| Deferred income taxes, net | 95,813 | 82,901 |
| Total liabilities | 821,024 | 756,915 |
| Shareholders' equity - controlling interest: | ||
| Preferred shares, without par value; authorized 1,000,000 shares; issued and outstanding - none | - | - |
| Common shares, without par value; authorized 150,000,000 shares; issued and outstanding, 2026 - 48,684,701 shares, 2025 - 49,236,449 shares | - | - |
| Additional paid-in capital | 311,997 | 308,608 |
| Accumulated other comprehensive income, net of taxes of $(951) and $(173) at May 31, 2026 and May 31, 2025, respectively | 10,906 | 4,050 |
| Retained earnings | 704,137 | 624,529 |
| Total shareholders' equity controlling interest | 1,027,040 | 937,187 |
| Noncontrolling interests | - | 1,050 |
| Total equity | 1,027,040 | 938,237 |
| Total liabilities and equity | 1,848,064 | 1,695,152 |
Consolidated Statements of Cash Flows
(In thousands)
| Description | Fiscal years ended May 31, 2026 | Fiscal years ended May 31, 2025 | Fiscal years ended May 31, 2024 |
|---|---|---|---|
| Operating activities: | |||
| Net earnings | 155,035 | 94,970 | 117,821 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 57,272 | 48,262 | 80,704 |
| Impairment of goodwill and long-lived assets | - | 50,813 | 34,377 |
| Provision for (benefit from) deferred income taxes | 8,439 | (18,439) | 2,762 |
| Impairment of investment in note receivable | - | 5,000 | 11,170 |
| Loss on extinguishment of debt | - | - | 1,534 |
| Bad debt expense (income) | 358 | 3,158 | (450) |
| Equity in net income of unconsolidated affiliates, net of distributions | 5,361 | 8,769 | 5,722 |
| Net loss on sale of assets | 3,290 | 277 | 28,980 |
| Stock-based compensation | 13,734 | 16,186 | 16,688 |
| Unrealized loss on investment in marketable securities | 975 | - | - |
| Changes in assets and liabilities, net of impact of acquisitions: | |||
| Receivables | 7,706 | (22,261) | 50,078 |
| Inventories | (11,557) | 11,500 | 63,596 |
| Accounts payable | 3,820 | 619 | (65,401) |
| Accrued compensation and employee benefits | (1,986) | 1,807 | 468 |
| Other operating items, net | (16,328) | 9,083 | (58,073) |
| Net cash provided by operating activities | 226,119 | 209,744 | 289,976 |
| Investing activities: | |||
| Investment in property, plant and equipment | (55,913) | (50,580) | (83,527) |
| Acquisitions, net of cash acquired | (304,148) | (95,018) | (42,035) |
| Proceeds from sale of assets, net of selling costs | 245 | 13,455 | 865 |
| Investment in note receivable | - | - | (14,900) |
| Investment in non-marketable equity securities, net of distributions | (251) | (2,958) | (2,296) |
| Excess distributions from unconsolidated affiliate | - | - | 1,085 |
| Net cash used by investing activities | (360,067) | (135,101) | (140,808) |
| Financing activities: | |||
| Dividends paid | (36,890) | (33,903) | (56,819) |
| Repurchase of common shares | (43,710) | (30,883) | - |
| Proceeds from issuance of common shares, net of tax withholdings | (5,948) | (4,007) | (11,399) |
| Principal payments on long-term obligations | (1,854) | - | (393,890) |
| Dividend from Worthington Steel at Separation | - | - | 150,000 |
| Distribution to Worthington Steel at Separation | - | - | (218,048) |
| Net proceeds from short-term borrowings, net of issuance costs | - | - | 172,187 |
| Payments to noncontrolling interests | - | - | (1,920) |
| Net cash used by financing activities | (88,402) | (68,793) | (359,889) |
| (Decrease) increase in cash and cash equivalents | (222,350) | 5,850 | (210,721) |
| Cash and cash equivalents at beginning of year | 250,075 | 244,225 | 454,946 |
| Cash and cash equivalents at end of year | 27,725 | 250,075 | 244,225 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per common share amounts); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗