Worthington Industries, Inc. ( (WOR) ) has released its Q1 earnings. Here is a breakdown of the information Worthington Industries, Inc. presented to its investors.
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Worthington Enterprises, Inc., headquartered in Columbus, Ohio, is a designer and manufacturer of market-leading brands that enhance everyday life by improving spaces and experiences. The company operates primarily in the Building Products and Consumer Products segments, offering a diverse range of solutions including HVAC components, architectural systems, and consumer tools.
In its first quarter of fiscal 2026, Worthington Enterprises reported a robust financial performance with net sales reaching $303.7 million, marking an 18% increase compared to the same quarter last year. The company also saw a significant rise in net earnings, which climbed 45% to $34.8 million, alongside an adjusted EBITDA growth of 34% to $65.1 million.
Key highlights from the quarter include a notable improvement in diluted earnings per share, which rose from $0.48 to $0.70, and an adjusted EPS increase from $0.50 to $0.74. The Building Products segment was a major contributor to this growth, with net sales jumping by 32.2% to $184.8 million, driven by higher volumes and the acquisition of Elgen Manufacturing. However, free cash flow saw a 12% decline to $27.9 million, attributed to increased capital expenditures for facility modernization.
The company completed the acquisition of Elgen Manufacturing, a leader in HVAC components, for $91.2 million, enhancing its presence in the commercial building sector. Worthington also repurchased 100,000 common shares and declared a quarterly dividend, reflecting its commitment to shareholder value.
Looking ahead, Worthington Enterprises remains optimistic about its strategic direction, supported by a strong balance sheet and a focus on innovation and acquisitions. The company aims to continue executing its long-term growth strategy, leveraging its expanded portfolio and strong customer relationships to deliver sustained value to its stakeholders.