Core Insights - Worthington Enterprises Inc. reported strong financial results for the first quarter of fiscal 2026, with significant growth in net sales and earnings compared to the previous year [4][5][6]. Financial Performance - Net sales reached $303.7 million, an increase of 18% from $257.3 million in the first quarter of fiscal 2025 [4][5]. - Net earnings rose by 45% to $34.8 million, up from $24.0 million in the prior year [5][6]. - Adjusted EBITDA grew by 34% to $65.1 million, compared to $48.4 million in the same quarter last year [5][6]. - Diluted earnings per share improved from $0.48 to $0.70, while adjusted diluted EPS increased from $0.50 to $0.74 [5][6]. Segment Performance - The Building Products segment generated net sales of $184.8 million, a 32.2% increase driven by higher volumes and contributions from the recent acquisition of Elgen, which added $20.9 million in sales [12][13]. - Consumer Products segment sales were $118.9 million, slightly up from $117.6 million, although adjusted EBITDA decreased due to lower volumes and increased expenses [12][13]. Cash Flow and Capital Expenditures - Operating cash flow remained flat at $41.1 million compared to the prior year, while free cash flow decreased by 12% to $27.9 million due to increased capital expenditures [5][10]. - The company invested approximately $13.2 million in capital expenditures, including $8.6 million for ongoing facility modernization projects [10][11]. Balance Sheet and Debt - The company ended the quarter with cash of $167.1 million, down from $250.1 million at the end of the previous quarter, primarily due to the acquisition of Elgen [10][11]. - Total debt increased to $306.0 million, all of which is long-term debt, reflecting a $3.1 million rise from the previous quarter [11]. Strategic Developments - The acquisition of Elgen Manufacturing for $91.2 million enhances Worthington's position in the commercial HVAC market and broadens its product offerings [5][14]. - The company declared a quarterly dividend of $0.19 per share, payable on December 29, 2025, to shareholders of record on December 15, 2025 [5].

Core Viewpoint - Worthington Enterprises Inc. has published its annual Corporate Citizenship and Sustainability Report, highlighting its commitments and achievements in sustainability across the categories of People, Planet, Products, and Governance [1][2]. Group 1: Sustainability Achievements - The company aims to balance people, planet, and prosperity, achieving significant accomplishments in fiscal 2025 [2]. - Worthington Enterprises has reduced its environmental footprint by recycling or recovering 88% of total waste in FY25 [6]. - The company has avoided $6.05 million in costs through climate risk mitigation actions over the last three fiscal years [6]. - Worthington Enterprises contributed $3.1 million to 73 non-profit organizations, including the West Africa Clean Cooking Fund [6]. Group 2: Corporate Governance and Standards - The Corporate Citizenship and Sustainability Report was developed in accordance with Global Reporting Initiative (GRI) Standards and incorporates elements from the Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) [3]. - Company activities align with the United Nations Sustainable Development Goals (SDGs) [3]. Group 3: Employee Engagement and Safety - The company prioritizes safety, outperforming the industry's average safety total case incident rate by 40% [6]. - An annual employee engagement survey saw participation from 85% of the workforce [6]. - The company has reinvigorated its internal safety program to foster a culture of health and well-being [6]. Group 4: Business Segments and Operations - Worthington Enterprises operates primarily in two business segments: Building Products and Consumer Products [4]. - The Building Products segment includes HVAC components, construction solutions, and water solutions, while the Consumer Products segment covers tools and outdoor living [4]. - The company employs approximately 6,000 people across North America and Europe [5].

Company Overview - Worthington Enterprises (NYSE: WOR) is a designer and manufacturer of market-leading brands that enhance everyday life by improving spaces and experiences [3] - The company operates in two primary business segments: Building Products and Consumer Products [3] - The Building Products segment includes solutions for heating and cooling, cooking, construction, and water systems, while the Consumer Products segment focuses on tools, outdoor living, and celebrations [3] - Worthington Enterprises employs approximately 6,000 people across North America and Europe [4] Leadership and Strategy - President and CEO Joe Hayek and CFO Colin Souza will participate in a fireside chat at the Canaccord Genuity 45 Annual Growth Conference on August 12, 2025 [1][2] - The discussion will focus on the company's strategies for accelerating long-term growth and shareholder value through the Worthington Business System, which emphasizes innovation, transformation, and mergers and acquisitions (M&A) [2] Corporate Philosophy and Community Engagement - Founded in 1955, Worthington Enterprises follows a people-first philosophy, prioritizing shareholder earnings as its primary corporate goal [5] - The company empowers employees to innovate and grow within attractive markets, while also engaging with local communities through volunteer efforts and workforce development programs [5]

Core Insights - Worthington Enterprises Inc. reported strong fourth quarter results for fiscal 2025, showing year-over-year and sequential growth in adjusted EBITDA, adjusted EPS, and free cash flow, driven by effective cost management and execution in its Consumer and Building Products segments [3][4][6]. Financial Performance - Net sales for Q4 2025 were $317.9 million, a slight decrease of 0.3% compared to Q4 2024, primarily due to the deconsolidation of the Sustainable Energy Solutions segment [5][6][8]. - The operating loss improved to $30.4 million from $56.1 million in the prior year, with adjusted operating income rising to $21.8 million, an increase of $16.0 million [5][9]. - Net earnings from continuing operations increased by 111% to $3.6 million, with adjusted EBITDA growing 35% to $85.1 million [6][9]. - Earnings per share from continuing operations improved from a loss of $(0.64) to a profit of $0.08, while adjusted EPS rose from $0.74 to $1.06 [6][28]. Cash Flow and Capital Management - Operating cash flow increased by 38% to $62.4 million, and free cash flow rose by 46% to $49.3 million [6][12]. - The company repurchased 200,000 shares for $9.8 million and declared a quarterly dividend of $0.19 per share, a 12% increase from the previous quarter [6][12]. Segment Performance - Consumer Products segment generated net sales of $125.6 million, remaining flat year-over-year, while adjusted EBITDA increased by $3.7 million to $20.8 million [14]. - Building Products segment saw net sales rise by 25.2% to $192.3 million, with adjusted EBITDA increasing by $19.6 million to $71.3 million, driven by higher volumes and contributions from the Ragasco acquisition [15][18]. Strategic Developments - The acquisition of Elgen Manufacturing for approximately $93 million was completed on June 19, 2025, aligning with the company's growth strategy in niche markets [6][16]. - The company expressed confidence in its ability to drive sustainable growth and long-term value heading into fiscal 2026 [16].

Core Viewpoint - Worthington Enterprises has acquired Elgen Manufacturing for approximately $93 million, enhancing its position in the HVAC market and aligning with its strategy to build leadership in niche markets [1][4]. Company Overview - Worthington Enterprises is a designer and manufacturer of brands that improve everyday life, operating primarily in two segments: Building Products and Consumer Products [5][6]. - The Building Products segment includes solutions for heating, cooling, construction, and water applications, while the Consumer Products segment covers tools and outdoor living [5]. Acquisition Details - Elgen Manufacturing, based in Closter, New Jersey, specializes in HVAC parts and components, generating net sales of $114.9 million and EBITDA of $13.3 million for the trailing 12 months ended April 30, 2025 [4]. - The acquisition is expected to create synergies and growth opportunities by leveraging Worthington's manufacturing expertise and distribution model [2][3]. Strategic Fit - The acquisition aligns with Worthington's strategy to acquire businesses with strong market positions, as Elgen's manufacturing processes and sales strategies complement those of Worthington [2][3]. - Elgen's products are used in commercial buildings, and its sales strategy focuses on direct sales to contractors and partnerships with distributors, enhancing customer service and lead times [2]. Leadership and Integration - Elgen's leadership team, including CEO David Young, will remain with the company, ensuring continuity and commitment to customer service and innovation [3].