Worthington Enterprises reports 63% earnings growth, completes two acquisitions, raises dividend 5%

The board of directors also appointed accomplished manufacturing and building products executive Brad Southern as its newest member. Southern retired as Chairman and CEO of Louisiana-Pacific Corporation (LP) Building Solutions earlier this year. He joined LP in 1999, became CEO in 2017 and Chairman in 2020.

Net sales were $371.5 million, an increase of 17%, including $44.1 million from recent acquisitions and 3% from organic growth. ... Net earnings increased to $48.1 million from $3.6 million, while adjusted net earnings were $47.7 million and adjusted EBITDA was $83.5 million. ... Earnings per share on a fully diluted basis (“EPS – diluted”) improved to $0.97 from $0.08 per share, while adjusted EPS – diluted was $0.97 per share compared to $1.06.

Net sales were $1.4 billion, an increase of 20%, including $121.7 million from recent acquisitions and 9% from organic growth. ... Net earnings increased 63% to $155.0 million, while adjusted net earnings increased 8% to $167.6 million and adjusted EBITDA grew 12% to $295.8 million. ... EPS – diluted improved to $3.14 from $1.92 per share, while adjusted EPS – diluted increased to $3.37 per share from $3.09 per share.

Completed the acquisitions of Elgen Manufacturing (“Elgen”) and LSI Group (“LSI”), further expanding the company’s building products portfolio and strengthening its position across the building envelope.

the Board declared a quarterly cash dividend of $0.20 per share in respect of our common shares. The dividend was declared on June 23, 2026, and is payable on September 29, 2026 to shareholders of record at the close of business on September 15, 2026.

On June 23, 2026, our Board of Directors (the “Board”), in accordance with our Code of Regulations and upon the recommendation of its Nominating and Governance Committee, increased the number of authorized directors from 13 to 14, and appointed W. Bradley Southern as a director to serve as a member of the class of directors whose terms expire at our 2026 annual meeting of shareholders, filling the vacancy created by the increase in the number of authorized directors. Mr. Southern’s appointment was immediately effective. Mr. Southern, 66, served as Chief Executive Officer of Louisiana-Pacific Corporation (LP), a leading building solutions company, from 2017 through 2026, and as Chair of the Board from 2020 to 2026.

Pursuant to our Corporate Governance Guidelines, the Board shall not nominate any individual to serve as a non-employee director if such individual will reach age 75 as of the date of the relevant shareholders’ meeting. Accordingly, the Board does not plan to nominate for re-election Michael J. Endres, Ozey K. Horton, Jr., and Virgil L. Winland, whose terms expire at our 2026 annual meeting of shareholders, as each individual will be age 75 or older at such meeting. With the appointment of Mr. Southern, the Board plans to reduce the number of authorized directors to 11 contemporaneous with the retirements of Messrs. Endres, Horton and Winland.