Worthington Enterprises (WOR) Q2 2026 Financial Results Summary
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Worthington Enterprises (WOR) Q2 2026 Financial Results Summary
COLUMBUS, Ohio (December 16, 2025) – Worthington Enterprises Inc. (NYSE: WOR) announced its financial results for the second quarter of fiscal 2026, which ended on November 30, 2025.
Financial Highlights
- Net Sales:
- $327.5 million
-
Up 19% compared to $274.0 million in Q2 2025.
-
Net Earnings:
- $27.0 million
-
Decreased 3% from $28.0 million in Q2 2025.
-
Adjusted Net Earnings:
- $32.5 million
-
Increased 7% from $30.2 million in Q2 2025.
-
Adjusted EBITDA:
- $60.5 million
-
Grew 8% compared to $56.2 million in Q2 2025.
-
Earnings Per Share (EPS):
- Diluted EPS was $0.55, slightly down from $0.56 in Q2 2025.
-
Adjusted EPS increased to $0.65 from $0.60 per share year-over-year.
-
Operating Cash Flow:
- $51.5 million
-
Increased 5% from $49.1 million in Q2 2025.
-
Free Cash Flow:
- $39.1 million
-
Improved 15% from $33.9 million in Q2 2025.
-
Common Stock Repurchase:
-
The company repurchased 250,000 shares for $13.7 million, leaving 5,015,000 shares remaining under the repurchase authorization.
-
Quarterly Dividend:
- Declared a quarterly dividend of $0.19 per common share, payable on March 27, 2026, to shareholders of record by March 13, 2026.
Segment Performance
- Consumer Products:
- Achieved net sales of $119.9 million, an increase of 2.7% from $116.7 million in Q2 2025.
-
Adjusted EBITDA was relatively stable at $15.3 million compared to the previous year’s $15.5 million.
-
Building Products:
- Generated net sales of $207.5 million, up 31.9% compared to $157.3 million in Q2 2025.
- Adjusted EBITDA increased 11.8% to $53.0 million from $47.2 million in Q2 2025.
Recent Developments
-
Acquired LSI Group, a leading manufacturer of commercial metal roof clips and associated products, for approximately $205 million, expected to close in January 2026.
-
President and CEO Joe Hayek expressed satisfaction with the quarter’s results amid cautious consumer sentiment, highlighting growth in the Building Products segment as a significant driver.
Balance Sheet Overview
- Cash Position:
-
Cash at quarter end was $180.3 million, down $69.8 million from May 31, 2025, primarily due to the acquisition of Elgen Manufacturing.
-
Total Debt:
-
$305.3 million, consisting solely of long-term debt, increased by $2.4 million since May 31, 2025.
-
No Borrowings:
- The company had no borrowings under its revolving credit facility, maintaining $500.0 million availability for future use.
Outlook
- Management remains optimistic about the upcoming fiscal year, noting the typically stronger seasonality in the second half. The acquisition of LSI Group aligns with their strategy to build leaders in niche markets.
Conference Call
- A conference call to discuss these results in detail is scheduled for December 17, 2025, at 8:30 a.m. Eastern Time.
Key Metrics Summary
| Metric | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Net Sales | $327.5 M | $274.0 M | +19% |
| Net Earnings | $27.0 M | $28.0 M | -3% |
| Adjusted Net Earnings | $32.5 M | $30.2 M | +7% |
| Adjusted EBITDA | $60.5 M | $56.2 M | +8% |
| Diluted EPS | $0.55 | $0.56 | -1.8% |
| Adjusted EPS | $0.65 | $0.60 | +8.3% |
| Operating Cash Flow | $51.5 M | $49.1 M | +5% |
| Free Cash Flow | $39.1 M | $33.9 M | +15% |
| Consumer Products Net Sales | $119.9 M | $116.7 M | +2.7% |
| Building Products Net Sales | $207.5 M | $157.3 M | +31.9% |
This comprehensive summary highlights Worthington Enterprises’ fiscal health in Q2 2026 while noting significant accomplishments and initiatives for growth.
Here are the extracted tables from the provided press release:
WORTHINGTON ENTERPRISES, INC. CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except per common share amounts)
| Three Months Ended November 30, | Six Months Ended November 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net sales | $327,452 | $274,046 | $631,159 | $531,354 |
| Cost of goods sold | $242,823 | $199,987 | $464,246 | $394,800 |
| Gross profit | $84,629 | $74,059 | $166,913 | $136,554 |
| Selling, general and administrative expense | $70,721 | $67,918 | $141,286 | $133,954 |
| Restructuring and other expense, net | $1,644 | $2,620 | $4,120 | $3,778 |
| Operating income (loss) | $12,264 | $3,521 | $21,507 | ($1,178) |
| Other income (expense): | ||||
| Miscellaneous income (expense), net | ($4,130) | $65 | ($4,286) | $551 |
| Interest expense, net | ($1,472) | ($1,033) | ($1,535) | ($1,522) |
| Equity in net income of unconsolidated affiliates | $29,118 | $34,556 | $65,775 | $70,048 |
| Earnings before income taxes | $35,780 | $37,109 | $81,461 | $67,899 |
| Income tax expense | $8,751 | $9,100 | $19,611 | $15,882 |
| Net earnings | $27,029 | $28,009 | $61,850 | $52,017 |
| Net loss attributable to noncontrolling interest | ($299) | ($251) | ($626) | ($496) |
| Net earnings attributable to controlling interest | $27,328 | $28,260 | $62,476 | $52,513 |
| Basic | ||||
| Weighted average common shares outstanding | 49,160 | 49,464 | 49,212 | 49,475 |
| Earnings per share attributable to controlling interest | $0.56 | $0.57 | $1.27 | $1.06 |
| Diluted | ||||
| Weighted average common shares outstanding | 49,762 | 50,138 | 49,895 | 50,264 |
| Earnings per share attributable to controlling interest | $0.55 | $0.56 | $1.25 | $1.04 |
| Cash dividends declared per common share | $0.19 | $0.17 | $0.38 | $0.34 |
CONSOLIDATED BALANCE SHEETS WORTHINGTON ENTERPRISES, INC. (In thousands)
| Assets | November 30, 2025 | May 31, 2025 |
|---|---|---|
| Cash and cash equivalents | $180,288 | $250,075 |
| Receivables, less allowances of $1,130 and $907, respectively | $207,320 | $215,824 |
| Inventories | ||
| Raw materials | $98,611 | $80,522 |
| Work in process | $8,201 | $9,408 |
| Finished products | $91,629 | $79,463 |
| Total inventories | $198,441 | $169,393 |
| Income taxes receivable | $25,616 | $12,720 |
| Prepaid expenses and other current assets | $37,117 | $37,358 |
| Total current assets | $648,782 | $685,370 |
| Investment in unconsolidated affiliates | $119,222 | $129,262 |
| Operating lease assets | $39,586 | $22,699 |
| Goodwill | $412,764 | $376,480 |
| Other intangibles, net of accumulated amortization of $96,736 and $88,887, respectively | $219,056 | $190,398 |
| Other assets | $25,284 | $20,717 |
| Property, plant and equipment: | ||
| Land | $8,727 | $8,703 |
| Buildings and improvements | $135,134 | $132,742 |
| Machinery and equipment | $390,637 | $372,798 |
| Construction in progress | $50,427 | $33,326 |
| Total property, plant and equipment | $584,925 | $547,569 |
| Less: accumulated depreciation | $296,286 | $277,343 |
| Total property, plant and equipment, net | $288,639 | $270,226 |
| Total assets | $1,753,333 | $1,695,152 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable | $104,779 | $103,205 |
| Accrued compensation, contributions to employee benefit plans and related taxes | $29,396 | $43,864 |
| Dividends payable | $9,776 | $9,172 |
| Other accrued items | $46,013 | $34,478 |
| Current operating lease liabilities | $8,472 | $6,014 |
| Income taxes payable | $634 | $109 |
| Total current liabilities | $199,070 | $196,842 |
| Other liabilities | $57,574 | $53,364 |
| Distributions in excess of investment in unconsolidated affiliate | $106,363 | $103,767 |
| Long-term debt | $305,255 | $302,868 |
| Noncurrent operating lease liabilities | $31,942 | $17,173 |
| Deferred income taxes | $90,106 | $82,901 |
| Total liabilities | $790,310 | $756,915 |
| Shareholders’ equity – controlling interest | $962,599 | $937,187 |
| Noncontrolling interest | $424 | $1,050 |
| Total equity | $963,023 | $938,237 |
| Total liabilities and equity | $1,753,333 | $1,695,152 |