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What were the key takeaways from Worthington’s earnings call?

What is the revenue and EPS growth rate for Worthington year over year?

What is Worthington's latest dividend and current dividend yield?

What guidance did Worthington's management provide for the next earnings period?

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What factors drove the changes in Worthington's revenue and profit?

What were the key takeaways from Worthington's earnings call?

- **19% Revenue Growth**: Driven by organic growth (10% ex-Elgen) and strategic acquisitions, with adjusted EBITDA up 8% YoY.
- **$205M LSI Acquisition**: Enhances engineered building systems with a 40%+ EBITDA margin business, closing in January 2026.
- **Free Cash Flow Strength**: $39M Q2 free cash flow and 96% trailing 12-month conversion, supporting M&A and shareholder returns.
- **Data Center Expansion**: Multiple businesses (Elgen, LSI, WAVE) tap into data center growth, despite <10% sales contribution.
- **Cost Control Excellence**: SG&A expenses down 320 basis points YoY, offsetting gross margin headwinds from Elgen integration.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue increased 19% YoY, excluding Elgen, organic growth was 10%. Adjusted EBITDA rose 8% YoY to $60 million, with a trailing 12-month EBITDA of $284 million.
- **Acquisition Strategy**: Announced $205 million acquisition of LSI, a leader in metal roofing components, expected to close in January 2026. LSI contributed $51 million in sales and $22.4 million in EBITDA over 12 months.
- **Market Positioning**: Gained share through innovation (e.g., large ASME water tanks for data centers) and cost control, with SG&A expenses declining 320 basis points as a percentage of revenue.
- **Integration Progress**: Elgen's integration faced temporary challenges but is positioned for long-term growth. Teams are leveraging the Worthington Business System for transformation and AI adoption.

**【CFO Financial Commentary】**
- **Financial Performance**: GAAP EPS was $0.55, while adjusted EPS rose 8% YoY to $0.65. Free cash flow was $39 million, with trailing 12-month free cash flow conversion at 96%.
- **Balance Sheet**: Long-term debt of $305 million and $180 million in cash, with a net debt/EBITDA ratio of 0.4x. LSI acquisition will be funded with cash and modest revolver borrowings.
- **Segment Growth**: Building Products revenue grew 32% YoY (16% organic), driven by heating, cooling, and construction. Consumer Products sales rose 3% with stable margins despite cautious consumer sentiment.
- **Cash Deployment**: Returned $24 million to shareholders via dividends and buybacks, with $10 million in capital expenditures for facility modernization.

**【Q&A Key Highlights】**
- **LSI Integration**: LSI's high margins (40%+ EBITDA) and niche market leadership align with Worthington's M&A criteria. Expected accretion to EBITDA and EPS.
- **Data Center Exposure**: Multiple businesses (Elgen, LSI, WAVE) serve data centers, contributing <10% of sales but growing faster than core markets.
- **Consumer Resilience**: Balloon Time products now in Costco, with innovation driving placement in CVS, Home Depot, and Sherwin-Williams.
- **Gross Margin Challenges**: Elgen's temporary underperformance and higher conversion costs weighed on gross margin, but SG&A control offset部分影响.
- **Tariff Mitigation**: Gained share through supplier cost-sharing, supply chain efficiency, and value-added pricing, offsetting tariff impacts.

Worthington Enterprises, Inc. (WOR) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: 18% YoY to $304M, driven by Building Products (32% growth) and new products.
- **Profitability**: Gross margin 27.1%, EBITDA margin 21.4% (vs. 18.8% last year).
- **Free Cash Flow**: $28M in Q1, $156M TTM (94% conversion).
- **Strategic Initiatives**: 80/20 efficiency program in water, $35M M&A pipeline.
- **Tariff Resilience**: Domestic manufacturing offsets $2M in consumer tariffs.
- **Margin Targets**: Aiming for >30% gross margin, 12-13% Building Products EBITDA.

**【CEO Opening Remarks】**
- Q1 revenue grew 18% YoY to $304 million, driven by Building Products (32% growth) and new product launches like Balloon Time Mini and Halo Griddles.
- Gross margin improved to 27.1% (vs. 24.3% last year), despite a $2.2 million purchase accounting charge from Elgen acquisition.
- Adjusted EBITDA margin expanded to 21.4% (from 18.8%), with Building Products contributing 31.3% margin.
- Emphasis on innovation (80/20 initiative in water business) and acquisitions (Elgen, Ragasco) to drive growth and efficiency.
- Tariffs and high interest rates impacting consumer and construction markets, but company outperformed peers with 34% EBITDA growth.

**【CFO Financial Commentary】**
- GAAP EPS: $0.70 (vs. $0.48 last year); Non-GAAP EPS: $0.74 (up 48% YoY).
- Free cash flow: $28 million (Q1) and $156 million TTM (94% conversion rate).
- Building Products: $185 million sales (32% YoY), WAVE equity income up 14% to $32 million.
- Consumer Products: $119 million sales (flat YoY), EBITDA margin 13.6% (down 1.5pts due to tariffs).
- Capital allocation: $9M dividend, $6M share buyback, $13M capex (mostly facility modernization).
- Balance sheet: $306M long-term debt, $167M cash, net debt/EBITDA ratio 0.5x.

**【Q&A Highlights】**
- **Building Products Margins**: Excluding WAVE/ClarkDietrich, EBITDA margin up to 10.5% (targeting 12-13%).
- **WAVE Performance**: Equity income up 14% YoY, benefiting from education/healthcare end markets.
- **Tariffs Impact**: Consumer segment paid $2M in tariffs, but domestic manufacturing gives competitive edge.
- **M&A Pipeline**: Actively pursuing bolt-ons in HVAC and construction, with Elgen integration on track.
- **ClarkDietrich Outlook**: Challenges in new construction, but data center projects provide resilience.
- **Gross Margin Target**: Aiming for >30% over medium term, with Q1 at 27.1% (seasonally low).

Worthington Enterprises, Inc. (WOR) Q1 2026 Earnings Call Transcript

- **Revenue Growth**: Q4 revenue up 14% YoY (ex-SES), with EBITDA margin expanding to 26.8%.
- **Strategic Acquisitions**: $93M Elgen deal adds $115M LTM revenue and HVAC component synergies.
- **Profitability**: Adjusted EPS of $1.06, free cash flow of $159M FY25, 12% dividend increase.
- **Segment Strength**: Building Products EBITDA margin 37%, WAVE/Q4 contributions exceed $30M.
- **Tariff Resilience**: <8% revenue from China, domestic capacity mitigating supply chain risks.

**【CEO Opening Remarks】**
- Q4 revenue grew 14% YoY (excluding SES deconsolidation), with adjusted EBITDA margin expanding to 26.8% from 19.8%.
- Key initiatives: innovation (Balloon Time Mini, HALO Griddles), transformation (80/20 productivity improvements), and M&A (Elgen Manufacturing acquisition).
- Elgen adds $115M LTM revenue and $13M EBITDA, with synergies expected in HVAC components and commercial framing.
- Named Top Workplace in central Ohio for 13th consecutive year, emphasizing people-first culture.

**【CFO Financial Highlights】**
- GAAP EPS: $0.08 (vs. -$0.64 prior year), adjusted EPS: $1.06 (vs. $0.74 prior year).
- Net sales: $318M (flat YoY, +14% ex-SES), gross profit: $93M (+18% YoY), gross margin: 29.3% (vs. 24.8%).
- Free cash flow: $159M FY25 (103% conversion rate), dividend increased 12% to $0.19/share.
- Acquired Elgen for $93M, with <0.25x net debt/EBITDA leverage.

**【Segment Performance】**
- **Consumer Products**: Q4 sales $126M (flat YoY), EBITDA $21M (16.6% margin vs. 13.6%).
- **Building Products**: Q4 sales $192M (+25% YoY), EBITDA $71M (37% margin vs. 33.6%).
- WAVE contributed $30M+ in Q4, ClarkDietrich equity income up $6M YoY.

**【Q&A Key Takeaways】**
- **Margin Expansion**: 450bps gross margin improvement driven by SES deconsolidation and Building Products volume growth.
- **WAVE & ClarkDietrich**: WAVE benefiting from healthcare/retail demand, ClarkDietrich navigating new construction headwinds.
- **Ragasgo**: Contributed $16.5M revenue and $2M EBITDA in Q4.
- **Tariffs**: <8% of revenue sourced from China, focusing on price risk mitigation and domestic capacity.
- **M&A Pipeline**: Soft market but active in HVAC components and niche Building Products adjacencies.


Worthington Enterprises, Inc. (WOR) Q4 2025 Earnings Conference Call Transcript

- **Revenue Growth**: 8% YoY (ex-SCS) driven by Ragasco, seasonal recovery, and share gains. EBITDA margin 24% vs. 21% YoY.
- **Profitability**: Gross margin 29.3% (620bps expansion), FCF $144M TTM (104% conversion). 
- **Innovation**: IoT propane tech, Balloon Time tank, and partnerships with Tractor Supply/Sherwin-Williams.
- **M&A Strategy**: Strong balance sheet ($223M cash) supporting accretive acquisitions in uncertain macro.
- **Tariffs & Pricing**: Domestic manufacturing advantage; price increases to offset costs. Long-term tariff benefits via import substitution.

**【CEO Opening Remarks】**
- Q3 revenue growth of 8% (excluding SCS) driven by Ragasco acquisition, seasonal normalization, and share gains. Adjusted EBITDA margin expanded to 24% vs. 21% YoY.
- Key innovations: IoT-enabled propane sensing tech and Balloon Time mini helium tank launched in Q3. New partnerships with Tractor Supply and Sherwin-Williams.
- AI adoption and facility modernization projects (e.g., 80/20 initiative in water business) to enhance efficiency and margins.
- Strong balance sheet ($223M cash, $500M undrawn credit) supports M&A pipeline targeting accretive acquisitions.

**【CFO Financial Highlights】**
- GAAP EPS: $0.79 (vs. $0.44 YoY); Adjusted EPS: $0.91 (vs. $0.80 YoY). Gross margin expanded 620bps to 29.3% due to mix shift and cost control.
- Free cash flow: $44M (Q3) and $144M TTM (104% conversion rate). Capital allocation: $13M in capex, $6M share buybacks, $35M JV dividends.
- Building Products EBITDA: $53M (32% margin) vs. $53M (36% YoY), offset by ClarkDietrich JV decline ($8M YoY).
- Consumer Products EBITDA: $29M (20.5% margin) vs. $26M (19.3% YoY), despite $1M bankruptcy charge.

**【Q&A Key Takeaways】**
- **Tariffs & Pricing**: Domestic manufacturing advantage; pending price increases to offset cost pressures. Tariffs may create long-term benefits via import substitution.
- **Margins Sustainability**: Q3 gross margin at 29.3% driven by seasonal strength; targeting high 20s over time. SG&A as % of sales improved to 20.7% vs. 21% YoY.
- **Consumer Demand**: Q3 growth (5% YoY) balanced between end-market demand and retailer preparedness for weather events. No destocking concerns in Q4.
- **M&A Outlook**: Healthy pipeline with focus on accretive, market-leading businesses. Current macro uncertainty may slow deal flow but not halt activity.
- **Free Cash Flow**: TTM FCF of $144M (104% conversion) expected to remain strong, with capex focused on facility modernization ($50M+ over next 6-8 quarters).

Worthington Industries (WOR)-26 Mar 25-2025 Q3 Earnings call transcript

Worthington Enterprises, Inc. (WOR) Q2 2025 Earnings Call Transcript

Worthington Industries (WOR)-25 Sep 24-2025 Q1 Earnings call transcript

Worthington Enterprises (WOR)-26 Jun 24-2024 Q4 Earnings call transcript

Worthington Enterprises (WOR)-21 Mar 24-2024 Q3 Earnings call transcript

Worthington Enterprises (WOR)-20 Dec 23-2024 Q2 Earnings call transcript

Worthington Industries (WOR)-28 Sep 23-2024 Q1 Earnings call transcript

Worthington Industries (WOR)-29 Jun 23-2023 Q4 Earnings call transcript

Worthington Industries (WOR)-23 Mar 23-2023 Q3 Earnings call transcript

Worthington Industries (WOR)-21 Dec 22-2023 Q2 Earnings call transcript

Worthington Industries (WOR)-29 Sep 22-2023 Q1 Earnings call transcript

Worthington Industries (WOR)-23 Jun 22-2022 Q4 Earnings call transcript

Worthington Industries (WOR)-23 Mar 22-2022 Q3 Earnings call transcript

Worthington Industries (WOR)-16 Dec 21-2022 Q2 Earnings call transcript

Worthington Industries (WOR)-29 Sep 21-2022 Q1 Earnings call transcript

Worthington Industries (WOR)-24 Jun 21-2021 Q4 Earnings call transcript

Worthington Industries (WOR)-24 Mar 21-2021 Q3 Earnings call transcript

Worthington Industries (WOR)-17 Dec 20-2021 Q2 Earnings call transcript

Worthington Industries (WOR)-23 Sep 20-2021 Q1 Earnings call transcript

Worthington Industries (WOR)-25 Jun 20-2020 Q4 Earnings call transcript

Worthington Industries (WOR)-26 Mar 20-2020 Q3 Earnings call transcript

Worthington Industries (WOR)-17 Dec 19-2020 Q2 Earnings call transcript

Worthington Industries (WOR)-25 Sep 19-2020 Q1 Earnings call transcript

Worthington Industries (WOR)-27 Jun 19-2019 Q4 Earnings call transcript

Worthington Industries (WOR)-21 Mar 19-2019 Q3 Earnings call transcript

Worthington Industries (WOR)-18 Dec 18-2019 Q2 Earnings call transcript

Worthington Industries (WOR)-26 Sep 18-2019 Q1 Earnings call transcript

Worthington Industries (WOR)-28 Jun 18-2018 Q4 Earnings call transcript

Worthington Industries (WOR)-29 Mar 18-2018 Q3 Earnings call transcript

Worthington Industries (WOR)-27 Sep 17-2018 Q1 Earnings call transcript

Actual											0.4315	0.3021	0.3945	0.5856	0.8384	1.4363	1.5165	1.3069	0.6966	0.974	0.9925	0.2712	0.6411	1.6891	1.2699	0.78	0.8	0.74	0.5	0.6	0.91	1.06	0.74	0.65	0.98
Forecast											0.4156	0.1572	0.2712	0.4284	0.7706	1.0788	1.1744	1.1466	0.7367	0.5117	1.0064	0.3678	0.4808	1.1713	1.2555	0.4377	0.75	0.945	0.7225	0.5154	0.7053	0.8432	0.7026	0.704	0.962
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+3.83%	+92.18%	+45.46%	+36.69%	+8.80%	+33.14%	+29.13%	+13.98%	-5.44%	+90.35%	-1.38%	-26.26%	+33.34%	+44.21%	+1.15%	+78.20%	+6.67%	-21.69%	-30.80%	+16.41%	+29.02%	+25.71%	+5.32%	-7.67%	+1.87%

WOR

WOR fundamentals

WOR Q3 2026 Earnings

Earnings Call

You can ask Aime

WOR

WOR fundamentals

WOR Q3 2026 Earnings

Earnings Call

WOR Earnings Call Summary for Q3/20268:30 AM on Mar 25, 2026

WOR Earnings Call Summary for Q2/20268:30 AM on Dec 17, 2025

WOR Earnings Call Summary for Q1/20268:30 AM on Sep 24, 2025

WOR Earnings Call Summary for Q4/20258:30 AM on Jun 25, 2025

WOR Earnings Call Summary for Q3/20258:30 AM on Mar 26, 2025

You can ask Aime