- Net sales increased by 24% to $378.7 million, surpassing estimates.
- Net earnings rose by 15% to $45.1 million, with adjusted net earnings up by 7% to $48.5 million.
- The Building Products segment saw a 35.8% increase in net sales, indicating strong market demand and successful acquisitions.
Worthington Enterprises Inc. (NYSE:WOR) has shown a strong performance in its fiscal 2026 third quarter, ending February 28, 2026. The company reported a 24% increase in net sales, reaching $378.7 million, surpassing the estimated $349.4 million. This growth reflects the company’s strategic initiatives and market positioning, as highlighted by its recent acquisition of LSI Group.
Net earnings for Worthington rose by 15% to $45.1 million, with adjusted net earnings increasing by 7% to $48.5 million. The company’s gross profit stood at $109.5 million, and operating income was recorded at $33.7 million. Despite a slight miss on earnings per share, reported at $0.92 compared to the estimated $0.96, the company still demonstrated solid financial health.
Operating cash flow increased by 8% to $61.9 million, and free cash flow also improved by 8% to $48.1 million. Worthington’s strategic capital deployment is evident in its repurchase of 100,000 common shares for $5.4 million. The company declared a quarterly dividend of $0.19 per share, with a record date of March 13, 2026, and payable on March 27, 2026. The Building Products segment saw a significant increase in net sales by 35.8% to $223.9 million, driven by higher volumes and acquisitions.
Looking ahead, President and CEO Joe Hayek expressed confidence in the company’s positioning for fiscal 2027. Worthington Enterprises plans to sustain growth and shareholder value through innovation and disciplined capital deployment. The company will review its fiscal 2026 third quarter results during a conference call on March 25, 2026, further emphasizing its commitment to transparency and strategic growth.
