Worthington Industries, Inc. is an industrial manufacturing firm operating internationally, with a strong foothold in North America. The company's primary focus areas ...
Worthington Enterprises, Inc. (NYSE: WOR), formerly Worthington Industries, is an American industrial manufacturing company headquartered in Columbus, Ohio. Founded in 1955 by John H. McConnell, the company has evolved from a steel processing pioneer into a diversified industrial enterprise. Under the leadership of CEO Joseph Hayek, who took office in ...Worthington Enterprises, Inc. (NYSE: WOR), formerly Worthington Industries, is an American industrial manufacturing company headquartered in Columbus, Ohio. Founded in 1955 by John H. McConnell, the company has evolved from a steel processing pioneer into a diversified industrial enterprise. Under the leadership of CEO Joseph Hayek, who took office in November 2024, Worthington focuses on creating value through innovation and strategic acquisitions.
The company's operations are organized into four main divisions. The Steel Processing division, which spun off as a separate entity in 2024, processes flat-rolled steel for industries such as automotive, aerospace, and construction. However, the current Worthington Enterprises focuses on Consumer Products, Building Products, and Sustainable Energy Solutions.
Consumer Products offers tools, outdoor living accessories, and celebration items under recognized brands like Coleman, Bernzomatic, and Balloon Time. Building Products supplies pressure cylinders for LPG and refrigerant gases, as well as water systems. Sustainable Energy Solutions provides on-board fueling systems and gas containment solutions for industrial gases.
Financially, Worthington reported net sales of $1.2 billion in fiscal 2025, with a market cap of approximately $2.86 billion. The company employs 3,800 individuals directly, and counts 6,000 including joint ventures. Its financial ratios indicate a strong balance sheet with a current ratio of 2.369, a debt-to-equity ratio of 0.341, and a net profit margin of 11.3%.
Worthington is committed to its foundational philosophy of the 'Golden Rule' – treating employees, customers, and communities with respect. The company actively engages in community initiatives, especially in central Ohio, and emphasizes safety and sustainability in its operations.
Looking ahead, Worthington aims to continue its growth through innovation and strategic partnerships, maintaining its leadership in niche markets. With a history spanning nearly seven decades, Worthington Enterprises remains a resilient and adaptive player in the industrial sector.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$1.4B
+19.7%
-1.9%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$156.1M
+62.5%
+5.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+27.4%
-0.7%
-5.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+6.0%
+39.6%
-27.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+11.3%
+35.7%
+8.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$170.2M
+6.9%
-37.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+12.3%
-10.7%
-35.8%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
34.1%
-2.1%
-4.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.37x
-32.0%
+0.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello, everyone. Thank you for joining us, and welcome to the Worthington Enterprises fourth quarter fiscal 2026 earnings call. After today's prepared remarks, we will host a question and answer session. I will now hand the conference over to Marcus Rogier, Treasurer and Investor Relations Officer.
Marcus Rogier: Thank you, Paige. Good morning, everyone, and thank you for joining us for Worthington Enterprises fourth quarter fiscal 2026 earnings call. On the call today are Joseph Hayek, our President and Chief Executive Officer, and Colin Souza, our Chief Financial Officer. Before we begin, I'd like to remind everyone that certain statements made during today's call are forward-looking in nature and subject to risks and uncertainties. For more information, please refer to our earnings release issued yesterday after the market close. Our remarks today will include references to non-GAAP financial measures, and reconciliations can be found in the earnings release. Today's call is being recorded, and a replay will be available on our website at worthingtonenterprises.com. With that, I'll turn the call over to Joe.
Joe Hayek: Thank you, Marcus. Good morning, everybody. Fiscal 2026 was an important year for Worthington Enterprises. We delivered 20% sales growth — 9% of that was organic — and 12% adjusted EBITDA growth. We generated $170 million of free cash flow while successfully reducing SG&A as a percentage of sales by 200 basis points. We acquired and began the integration of both Elgen and LSI. These results demonstrate the strength of our portfolio, our strategy, and most importantly, our people. We achieved these results while navigating tariffs, global conflicts, supply chain challenges, and continued uncertainty around the health of the U.S. economy. Through it all, our business remained resilient and focused on serving our customers. In the quarter, sales increased by 17% and organic growth was 3%. Net earnings increased to $48 million from $4 million a year ago. Adjusted net earnings were $48 million, adjusted EBITDA was $83.5 million, and free cash flow was $55 million — our highest quarterly cash flow as Worthington Enterprises, despite elevated capital spending associated with our ongoing facility modernization project. While we were pleased with the quarter, our adjusted EBITDA and margin performance were impacted by two factors: lower earnings from ClarkDietrich compared with a strong prior year quarter, and margin pressure in our cooling and construction business. All of our other wholly-owned value streams saw year-over-year growth in adjusted EBITDA during the quarter, and we believe the dynamics that created those headwinds are more a timing issue than anything systemic. Our results reflect continued execution around the core pillars of our strategy, leveraging the Worthington business system and its three growth drivers: innovation, transformation, and acquisitions. Innovation remains the key driver of our organic …
