Financial Performance - Net sales for Q2 fiscal 2025 were $274.0 million, a decrease of 8.1% from $298.2 million in Q2 fiscal 2024, primarily due to the deconsolidation of the former Sustainable Energy Solutions segment[2][4] - Adjusted EPS from continuing operations increased by 5% to $0.60, while adjusted EBITDA rose by 2% to $56.2 million despite lower net sales[2][3] - Operating income improved to $3.5 million, a favorable change of $17.9 million compared to the operating loss of $14.4 million in the prior year quarter[5] - Net earnings from continuing operations for the three months ended November 30, 2024, were $28,009,000, up from $17,934,000 in the prior year, representing a 56.5% increase[23] - Earnings per share from continuing operations for the three months ended November 30, 2024, were $0.57, compared to $0.36 for the same period in 2023, marking a 58.3% increase[23] - The company reported a net earnings attributable to controlling interest of $28,260,000 for the three months ended November 30, 2024, compared to $24,302,000 in the prior year, an increase of 8.0%[23] - Net earnings for the three months ended November 30, 2024, were $28,009,000, compared to $28,167,000 for the same period in 2023, a decrease of 0.6%[27] Segment Performance - Consumer Products segment net sales were $116.7 million, down 2.2% year-over-year, while adjusted EBITDA increased by $2.8 million to $15.5 million[10] - Building Products segment net sales increased by 4.0% to $157.3 million, with adjusted EBITDA rising by $1.4 million to $47.2 million, driven by contributions from Ragasco[11] - Consumer Products segment net sales for the three months ended November 30, 2024, were $116,748 million, down from $119,389 million year-over-year, a decline of 2.2%[34] - Building Products segment net sales for the three months ended November 30, 2024, were $157,298 million, compared to $151,303 million in the prior year, an increase of 4.0%[34] Cash and Debt Management - The company ended the quarter with cash of $193.8 million, down $50.4 million from the previous quarter, primarily due to the acquisition of Ragasco[8] - Total debt remained stable at $295.7 million, with no borrowings under the revolving credit facility, leaving $500.0 million available for future use[9] - Cash and cash equivalents at the end of the period were $193,805,000, down from $430,906,000, representing a decrease of 55.0%[27] - Long-term debt decreased from $298,133,000 to $295,721,000, a decline of about 0.5%[25] Dividends and Shareholder Returns - The company declared a quarterly dividend of $0.17 per share, payable on March 28, 2025[2] - Cash dividends declared per share were $0.17 for the three months ended November 30, 2024, down from $0.32 in the same period last year[23] Operational Efficiency - Gross profit increased to $74,059,000 for the three months ended November 30, 2024, compared to $63,278,000 for the same period in 2023, reflecting a gross margin improvement[23] - The company experienced a decrease in cost of goods sold to $199,987,000 for the three months ended November 30, 2024, from $234,951,000 in the same period last year, a reduction of 15.0%[23] - Net cash provided by operating activities for the three months ended November 30, 2024, was $49,053,000, compared to $134,990,000 for the same period in 2023, a decrease of 63.6%[27] Strategic Focus - The company is focused on transformation, innovation, and M&A to drive sustainable growth and deliver long-term value to shareholders[12] - The company incurred separation costs of $7,056,000 in the three months ended November 30, 2023, which were not present in the current quarter[23] - The company eliminated corporate costs at separation, which amounted to $9,671 million in the previous year[36] Non-GAAP Measures - Non-GAAP net earnings for the three months ended November 30, 2023, were $28,514,000, with diluted EPS of $0.57[29] - Non-GAAP adjusted EBITDA from continuing operations for the six months ended November 30, 2024, was $104,649 million, reflecting a margin of 19.7%[36] - Adjusted net earnings from continuing operations for the six months ended November 30, 2024, were $68,395 million, up from $60,333 million in the previous year[36] Equity Income - Equity income decreased by $4.1 million to $34.6 million, impacted by lower contributions from ClarkDietrich and a prior year gain related to divestiture[6] - Equity in net income of unconsolidated affiliates was $34,556,000 for the three months ended November 30, 2024, compared to $38,668,000 in the same period last year, indicating a decrease of 10.9%[23] - Equity income from unconsolidated affiliates for the three months ended November 30, 2024, was $24,564 million, compared to $21,428 million in the same period last year, an increase of 10.0%[34]

Group 1 - The core investment thought on Worthington Enterprises (NYSE: WOR) is a hold rating due to anticipated headwinds that may pressure the company's growth ability [1] - The investment approach focuses on long-term investments while incorporating short-term shorts to uncover alpha opportunities, emphasizing a bottom-up analysis of individual companies' fundamental strengths and weaknesses [1] - The investment duration is medium to long-term, aiming to identify companies with solid fundamentals, sustainable competitive advantages, and growth potential [1]

Core Insights - The Hecht Commodity Report is recognized as one of the most comprehensive commodities reports available, covering market movements of over 29 different commodities [1] - The report provides various market calls including bullish, bearish, and neutral, along with directional trading recommendations and actionable ideas for traders and investors [1][2] Group 1 - The report offers a free trial and discount to new subscribers for a limited time [1] - The investing group associated with the report covers market movements of 20 different commodities, providing similar market calls and recommendations [2] - The author maintains positions in commodities markets through futures, options, ETF/ETN products, and commodity equities, with positions changing on an intraday basis [3]

Financial Data and Key Metrics Changes - GAAP earnings from continuing operations increased to $0.56 per share from $0.36 in the prior year quarter [17] - Adjusted earnings from continuing operations rose to $0.60 per share compared to $0.57 per share in Q2 of the prior year [19] - Consolidated net sales decreased to $274 million, down 8.1% from $298 million in the prior year [19] - Gross profit increased to $74 million from $63 million in the prior year, with gross margin rising approximately 580 basis points to 27% [20][21] - Adjusted EBITDA was $56 million, slightly up from $55 million in Q2 of last year [21] - Cash flow from operations was $49 million, and free cash flow was $34 million [22] - Long-term funded debt stood at $296 million with a net debt to trailing adjusted EBITDA leverage ratio of less than half a turn [24] Business Line Data and Key Metrics Changes - Consumer products net sales were $117 million, down 2% year-over-year, despite a 3% increase in volumes [25] - Adjusted EBITDA for consumer products was $15 million with an adjusted EBITDA margin of 13.3%, up from $13 million and 10.7% in the prior year [25] - Building products reported Q2 net sales of $157 million, a 4% increase from $151 million in the prior year, driven by the acquisition of Ragasco [27] - Adjusted EBITDA for building products was $47 million, with an adjusted EBITDA margin of 30% [28] Market Data and Key Metrics Changes - The consumer products segment faced challenges due to a shift in product mix, but retail partnerships remain strong [26] - Building products experienced growth in large format heating, but softness in the gas grill tank business due to production limitations [28] Company Strategy and Development Direction - The company is focused on a people-first, performance-based culture to drive shareholder returns [8] - There is an emphasis on innovation and partnerships, such as with 3M for the PowerCore engineered cylinder [11] - The company aims for inorganic growth through acquisitions, with a strong balance sheet supporting this strategy [13] - Sustainability is viewed as both an obligation and a strategic advantage, with initiatives like the West Africa Clean Cooking Fund [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged mild but persistent macro headwinds affecting performance [8] - There is optimism about future growth, with a commitment to innovation and market expansion [15] - The company is preparing for various scenarios around trade policy and believes it is well-positioned for any potential changes [84] Other Important Information - The company declared a quarterly dividend of $0.17 per share payable in March 2025 [24] - The integration of the Ragasco acquisition has been completed, enhancing the company's portfolio in LPG solutions [13] Q&A Session Summary Question: What drove the gross margin performance? - Management indicated that the gross margin increase was due to the exclusion of sales from the SES business unit and the inclusion of Ragasco, along with a positive mix shift [36][37] Question: How should SG&A be viewed moving forward? - SG&A will be evaluated in the context of business operations, with a focus on optimizing and growing the company [39][41] Question: What trends are driving WAVE's performance? - WAVE's success is attributed to its strong value proposition and performance in sectors like education and healthcare [45] Question: What is the outlook for the heating and cooking space? - Management noted a return to growth in large format heating tanks, while smaller tanks faced production challenges [58] Question: How does the company view its capital allocation strategy? - The company maintains a bias for growth, with plans for share buybacks and M&A opportunities [70][71] Question: How is the company addressing input costs and pricing? - Management is focused on keeping costs down and does not anticipate significant price increases in the near term [80] Question: What is the company's position regarding potential tariffs and trade actions? - The company believes it is well-positioned to benefit from a level playing field in the competitive environment [83]

Y WORTHINGTON ENTERPRISES ENTERPRISES Q2 FY2025 EARNINGS SUMMARY DECEMBER 17, 2024 Building Products I Consumer Products ENABLING SAFER, HEALTHIER, MORE EXPRESSIVE LIVES. Notes to Investors FORWARD-LOOKING STATEMENTS. Selected statements in this presentation constitute "forward-looking statements," as that term is used in the Private Securities Litigation Reform Act of 1995 (the "Act"). Worthington Enterprises, Inc. (the "Company" or "Worthington") wishes to take advantage of the safe harbor provisions incl ...

Core Insights - Worthington Enterprises reported a net sales decrease of 8% to $274.0 million in Q2 FY2025, primarily due to the deconsolidation of the Sustainable Energy Solutions segment [2][3][4] - Adjusted EPS from continuing operations increased by 5% to $0.60, while adjusted EBITDA rose by 2% to $56.2 million despite lower net sales [2][3] - The company repurchased 200,000 shares for $8.1 million and declared a quarterly dividend of $0.17 per share [2][3] Financial Performance - Net sales for Q2 FY2025 were $274.0 million, down from $298.2 million in Q2 FY2024, a decrease of $24.2 million or 8.1% [2][3] - Operating income improved to $3.5 million, a favorable change of $17.9 million from a loss of $14.4 million in the prior year [5] - Net earnings from continuing operations were $28.3 million, compared to $17.9 million in the prior year [2][3] Segment Performance - Consumer Products segment generated net sales of $116.7 million, down 2.2% from the prior year, but adjusted EBITDA increased by $2.8 million to $15.5 million [10] - Building Products segment saw net sales rise by 4.0% to $157.3 million, with adjusted EBITDA increasing by $1.4 million to $47.2 million [11] Balance Sheet and Cash Flow - The company ended the quarter with cash of $193.8 million, down $50.4 million from the previous quarter, primarily due to the acquisition of Ragasco [8] - Total debt remained relatively unchanged at $295.7 million, with no borrowings under the revolving credit facility [9] Outlook - The company aims to optimize its business and drive sustainable growth, focusing on transformation, innovation, and M&A opportunities [12]

Core Points - Worthington Enterprises, Inc. will hold its quarterly earnings conference call on December 18, 2024, at 8:30 a.m. ET to discuss its fiscal second quarter results, which will be released after market close on December 17, 2024 [1][2][3] Company Overview - Worthington Enterprises is a designer and manufacturer of market-leading brands that enhance safety, health, and expression in everyday life [3] - The company operates in two primary business segments: Building Products and Consumer Products, with a diverse portfolio of brands including Balloon Time®, Bernzomatic®, Coleman®, and others [3] - Worthington Enterprises also engages in the global hydrogen ecosystem through a joint venture focused on onboard fueling systems and gas containment solutions [3] Employment and Corporate Philosophy - The company is headquartered in Columbus, Ohio, and employs approximately 6,000 people across North America and Europe [4] - Founded in 1955, Worthington Enterprises follows a people-first philosophy, prioritizing shareholder earnings while empowering employees to innovate and grow [5]

COLUMBUS, OHIO, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The Worthington Enterprises, Inc. (NYSE: WOR) Board of Directors today announced Joseph Hayek as the Company’s next president and chief executive officer (CEO) effective Nov. 1, 2024. Hayek, who currently is the Company’s executive vice president, chief financial and operations officer, will replace Andy Rose who is retiring. Worthington Enterprises Board of Directors Chairman John Blystone, said, “Joe is a proven leader with a deep understanding of the busi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number 001-08399 WORTHINGTON ENTERPRISES, INC. (Exact name of registrant as specified in its cha ...

News Release 00 Old Wilson Bridge Columbus Only 4308 Worthington Enterprises Reports First Quarter Fiscal 2025 Results COLUMBUS, Ohio, September 24, 2024 – Worthington Enterprises, Inc. (NYSE: WOR) reported net sales of $257.3 million and net earnings from continuing operations of $24.3 million, or $0.48 per diluted share, for its fiscal 2025 first quarter ended August 31, 2024. This compares to net sales of $311.9 million and net earnings from continuing operations of $26.8 million, or $0.54 per diluted sh ...