Worthington Enterprises (WOR) investor relations material

Executive summary

• Net sales reached $343.9M, up 13.2% year over year, with 7% organic growth and $19.2M from acquisitions.

• Adjusted EBITDA rose 10.1% to $74.0M; adjusted diluted EPS was $0.82, up from $0.78.

• Net earnings increased to $42.6M from $34.8M; adjusted net earnings rose 3% to $40.1M.

• Free cash flow nearly doubled to $54.0M; operating cash flow increased to $66.7M from $41.1M.

Financial highlights

• Gross profit increased to $90.9M from $82.3M; gross margin was 26.4% versus 27.1%.

• Operating income was $13.0M versus $9.2M; adjusted operating income was $13.7M versus $13.9M.

• Trailing 12-month net sales were $1.4B and adjusted EBITDA was $303M.

• Equity income increased to $40.6M from $36.7M, led by WAVE and ClarkDietrich contributions.

• Net leverage was 0.8x; liquidity totaled $555M, including $55M cash and $500M revolver availability at August 31, 2026.

Outlook and guidance

• Expect sequential growth in ASME tank revenues for data centers through the fiscal year; Q1 data center tank revenue was $13M, matching fiscal 2026.

• Near-term demand across both segments is expected to remain uneven; cooling and construction demand face constraints, with Q2 a tough comparison.

• Focus on organic growth through innovation, product development, productivity, and acquisition integration, particularly in data center infrastructure and environmentally friendly solutions.