NYSE: WOR
WORTHINGTON ENTERPRISES, INC.CIK 0000108516 · SIC 3310 · Steel Works & Blast Furnaces
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Net sales rose 13.2% to $343.9M in the fiscal first quarter, and net earnings attributable to controlling interest increased 21.1% to $42.6M, including a net gain on sale of assets of $4.0M.
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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-Q filed Oct 9, 2026 (period ending Aug 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings (Unaudited)
(In thousands, except per common share amounts)
| Description | Three months ended August 31, 2026 | Three months ended August 31, 2025 |
|---|---|---|
| Net sales | 343,886 | 303,707 |
| Cost of goods sold | 252,988 | 221,423 |
| Gross profit | 90,898 | 82,284 |
| Selling, general and administrative expense | 77,158 | 70,565 |
| Restructuring and other expense, net | 717 | 2,476 |
| Operating income | 13,023 | 9,243 |
| Other income (expense): | ||
| Miscellaneous income (expense), net | 4,081 | (156) |
| Interest expense, net | (2,097) | (63) |
| Equity in net income of unconsolidated affiliates | 40,594 | 36,657 |
| Earnings before income taxes | 55,601 | 45,681 |
| Income tax expense | 13,029 | 10,860 |
| Net earnings | 42,572 | 34,821 |
| Net loss attributable to noncontrolling interest | - | (327) |
| Net earnings attributable to controlling interest | 42,572 | 35,148 |
| Basic | ||
| Weighted average common shares outstanding | 48,568 | 49,264 |
| Earnings per share attributable to controlling interest | 0.88 | 0.71 |
| Diluted | ||
| Weighted average common shares outstanding | 49,165 | 50,026 |
| Earnings per share attributable to controlling interest | 0.87 | 0.70 |
| Cash dividends declared per common share | 0.20 | 0.19 |
Consolidated Balance Sheets
(In thousands)
| Description | August 31, 2026 | May 31, 2026 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 55,067 | 27,725 |
| Receivables, less allowances of $1,290 and $1,310, respectively | 185,659 | 228,168 |
| Inventories: | ||
| Raw materials | 119,778 | 110,536 |
| Work in process | 11,292 | 9,490 |
| Finished products | 91,515 | 87,270 |
| Total inventories | 222,585 | 207,296 |
| Income taxes receivable | 10,342 | 20,016 |
| Prepaid expenses and other current assets | 49,054 | 41,269 |
| Total current assets | 522,707 | 524,474 |
| Investments in unconsolidated affiliates | 119,639 | 118,048 |
| Operating lease assets | 40,979 | 42,888 |
| Goodwill | 499,116 | 500,784 |
| Other intangible assets, net of accumulated amortization of $112,044 and $106,944, respectively | 317,172 | 322,761 |
| Other assets | 28,009 | 28,215 |
| Property, plant and equipment: | ||
| Land | 8,728 | 8,732 |
| Buildings and improvements | 136,370 | 136,441 |
| Machinery and equipment | 406,857 | 411,030 |
| Construction in progress | 75,275 | 66,509 |
| Total property, plant and equipment | 627,230 | 622,712 |
| Less: accumulated depreciation | 314,102 | 311,818 |
| Total property, plant and equipment, net | 313,128 | 310,894 |
| Total assets | 1,840,750 | 1,848,064 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable | 105,525 | 115,203 |
| Accrued compensation, contributions to employee benefit plans and related taxes | 36,635 | 41,728 |
| Dividends payable | 10,194 | 9,814 |
| Other accrued items | 34,572 | 45,832 |
| Current operating lease liabilities | 7,970 | 7,982 |
| Income taxes payable | 1,151 | 867 |
| Total current liabilities | 196,047 | 221,426 |
| Other liabilities | 56,834 | 56,657 |
| Distributions in excess of investment in unconsolidated affiliate | 102,293 | 105,349 |
| Long-term debt | 305,552 | 305,896 |
| Noncurrent operating lease liabilities | 34,028 | 35,883 |
| Deferred income taxes, net | 98,804 | 95,813 |
| Total liabilities | 793,558 | 821,024 |
| Shareholders’ equity | 1,047,192 | 1,027,040 |
| Total liabilities and equity | 1,840,750 | 1,848,064 |
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Three months ended August 31, 2026 | Three months ended August 31, 2025 |
|---|---|---|
| Operating activities: | ||
| Net earnings | 42,572 | 34,821 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 15,628 | 13,086 |
| Provision for deferred income taxes | 3,030 | 2,957 |
| Bad debt income | (134) | (21) |
| Equity in net income of unconsolidated affiliates, net of distributions | (4,743) | (181) |
| Net gain on sale of assets | (3,972) | - |
| Stock-based compensation | 3,996 | 3,427 |
| Unrealized gain on investment in marketable securities | (20) | - |
| Changes in assets and liabilities, net of impact of acquisitions: | ||
| Receivables | 41,900 | 14,107 |
| Inventories | (15,289) | (15,816) |
| Accounts payable | (8,874) | (11,946) |
| Accrued compensation and employee benefits | (5,092) | (10,399) |
| Other operating items, net | (2,271) | 11,026 |
| Net cash provided by operating activities | 66,731 | 41,061 |
| Investing activities: | ||
| Investment in property, plant and equipment | (12,754) | (13,195) |
| Acquisitions, net of cash acquired | (2,393) | (92,235) |
| Proceeds from sale of assets, net of selling costs | 1,030 | - |
| Net cash used by investing activities | (14,117) | (105,430) |
| Financing activities: | ||
| Dividends paid | (9,402) | (8,576) |
| Repurchase of common shares | (18,212) | (6,259) |
| Principal payments on long-term obligations | (318) | (197) |
| Proceeds from issuance of common shares, net of tax withholdings | 2,660 | (3,552) |
| Net cash used by financing activities | (25,272) | (18,584) |
| Increase (decrease) in cash and cash equivalents | 27,342 | (82,953) |
| Cash and cash equivalents at beginning of period | 27,725 | 250,075 |
| Cash and cash equivalents at end of period | 55,067 | 167,122 |
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 ↗