Financial Performance - Net sales for Q3 2025 were $304.5 million, a decrease of 4% compared to $316.8 million in Q3 2024, primarily due to the deconsolidation of the former Sustainable Energy Solutions segment[4] - Operating income increased significantly to $20.9 million from $4.3 million in the prior year, reflecting a $16.6 million improvement[4] - Earnings before income taxes rose by 30% to $52.6 million, up from $40.5 million in Q3 2024[4] - Net earnings from continuing operations increased to $39.7 million, compared to $22.0 million in the same quarter last year, marking an 80% increase in diluted EPS to $0.79[4] - Adjusted EBITDA from continuing operations grew by 10% to $73.8 million, up from $66.9 million in Q3 2024[4] - Free cash flow increased to $44.4 million, an 11% rise from $40.1 million in the prior year quarter[4] Segment Performance - Consumer Products segment net sales rose by 4.9% to $139.7 million, driven by higher volumes[12] - Building Products segment net sales increased by 11.2% to $164.8 million, supported by contributions from Ragasco and a favorable product mix[13] Dividends and Shareholder Returns - The company declared a quarterly dividend of $0.17 per share, payable on June 27, 2025[4] - Cash dividends declared per share increased to $0.17 for the three months ended February 28, 2025, compared to $0.16 in the same period last year[24] - The company paid dividends of $8,422 thousand during the three months ended February 28, 2025, down from $15,849 thousand in the same period of 2024, a decrease of 46.9%[28] Assets and Liabilities - Total assets as of February 28, 2025, were $1.682 billion, an increase from $1.639 billion as of May 31, 2024[26] - Current liabilities increased slightly to $180.388 million as of February 28, 2025, compared to $178.376 million as of May 31, 2024[26] - Shareholders' equity attributable to controlling interest rose to $937.208 million as of February 28, 2025, up from $888.879 million as of May 31, 2024[26] Earnings and Cash Flow - Net earnings for the three months ended February 28, 2025, were $39,339 thousand, a significant increase from $22,000 thousand in the same period of 2024, representing an increase of 78.9%[28] - The company reported net cash provided by operating activities of $57,131 thousand for the three months ended February 28, 2025, up from $50,121 thousand in the prior year, an increase of 14.0%[28] - Net cash provided by operating activities increased to $57,131 thousand in February 2025 from $50,121 thousand in February 2024, representing a growth of 4.0%[36] - Free cash flow (non-GAAP) rose to $44,427 thousand in February 2025, compared to $40,104 thousand in February 2024, marking an increase of 10.0%[36] Earnings Per Share - Earnings per share (EPS) for continuing operations was $0.80 for the three months ended February 28, 2025, compared to $0.45 for the same period in 2024, representing a 77.8% increase[24] - The adjusted earnings per share (EPS) from continuing operations for the three months ended February 28, 2025, was $0.91, compared to $0.44 for the same period in 2024, marking a substantial increase of 106.8%[31] Investments and Capital Expenditures - The company incurred $12,704 thousand in investments in property, plant, and equipment during the three months ended February 28, 2025, compared to $10,017 thousand in the same period of 2024, an increase of 16.9%[28] Equity and Affiliates - The company reported a significant increase in equity in net income of unconsolidated affiliates, totaling $32.081 million for the three months ended February 28, 2025, down from $43.235 million in the prior year[24] - Equity income from unconsolidated affiliates decreased to $32,081 thousand in February 2025 from $43,235 thousand in February 2024, a decline of 25.7%[38] Overall Growth Metrics - For the nine months ended February 28, 2025, net earnings were $92,176 thousand, compared to $66,763 thousand for the same period in 2024, indicating a growth of 38.2%[31] - Total reportable segments' volume increased to 24,321 thousand units in February 2025 from 22,432 thousand units in February 2024, a growth of 8.4%[38] - Adjusted EBITDA margin from continuing operations for the three months ended February 28, 2025, was 24.2%, up from 21.1% in the same period of 2024[35] - Adjusted EBITDA from continuing operations for the consolidated segments reached $73,779 thousand in February 2025, compared to $66,871 thousand in February 2024, a rise of 10.7%[38]
Worthington Industries(WOR_V) - 2024 Q4 - Annual Results