Worthington Enterprises Reports Third Quarter Fiscal 2026 Results

Core Insights - Worthington Enterprises Inc. reported strong financial performance for the third quarter of fiscal 2026, achieving year-over-year growth in adjusted EPS and EBITDA for the sixth consecutive quarter, driven by solid organic growth and the acquisition of LSI Group [3][6]. Financial Highlights - Net sales increased by 24% to $378.7 million compared to $304.5 million in the third quarter of fiscal 2025 [4][6]. - Operating income rose to $31.5 million, up from $20.9 million, reflecting higher net sales and improved fixed cost absorption [4][8]. - Net earnings increased by 15% to $45.1 million, while adjusted net earnings grew by 7% to $48.5 million [4][6]. - Adjusted EBITDA grew by 15% to $84.6 million from $73.8 million in the prior year quarter [4][6]. - Earnings per share (EPS) on a fully diluted basis improved to $0.92 from $0.79, and adjusted EPS increased to $0.98 from $0.91 [4][6]. Segment Performance - The Building Products segment generated net sales of $223.9 million, a 35.8% increase over the prior year, driven by higher volumes and acquisitions [13]. - The Consumer Products segment reported net sales of $154.8 million, a 10.8% increase, attributed to higher volumes and average selling prices [14]. Cash Flow and Capital Management - Net cash provided by operating activities was $61.9 million, an 8% increase from $57.1 million in the prior year [4][6]. - Free cash flow improved to $48.1 million from $44.4 million [4][6]. - The company repurchased 100,000 common shares for $5.4 million and declared a quarterly dividend of $0.19 per share [6][12]. Acquisition and Strategic Outlook - The acquisition of LSI Group for approximately $205 million is expected to enhance the Building Products segment [6][12]. - The company is positioned for continued growth, focusing on innovative solutions and disciplined capital deployment to enhance shareholder value [15].