Worthington Enterprises, Inc. · NYSE:WOR
Worthington Enterprises — CJS Securities 26th Annual New Ideas for the New Year Investor Conference 2026
20 slides from Worthington Enterprises's conference presentation, Jan 14, 2026
Slide 1: 26th Annual New Ideas for The New Year Investor Conference
26th Annual “New Ideas for The New Year” Investor Conference JANUARY 14, 2026 Joe Hayek – CEO Colin Souza - CFO
Slide 2: Notes to Investors
Notes to Investors FORWARD-LOOKING STATEMENTS. Selected statements in this presentation constitute “forward-looking statements,” as that term is used in the Private Securities Litigation Reform Act of 1995 (the “Act”). Worthington Enterprises, Inc. (the “Company” or “Worthington”) wishes to take adv
Slide 3: Key Investment Highlights
Key Investment Highlights • Established Portfolio of Market-Leading Brands with High Barriers to Entry NET SALES OF FOUNDED IN $1.3 BILLION 1 1955 • Resilient, non-cyclical earnings driven by contractor end-use demand and diversified channels, supported by a primarily domestic manufacturing footprin
Slide 4: Building Products At-a-Glance
Building Products At-a-Glance A portfolio of market-leading products supporting critical building systems and components that elevate the spaces where people live, work, and gather. KEY FIGURES (TTM AS OF Q2 FY26) Heating and Cooking Facilitating the transition away from fuel oil, as well as providi
Slide 5: Building Products Joint Ventures
Building Products Joint Ventures JV FINANCIAL METRICS Market-leading businesses providing products critical to the building envelope ($ MILLIONS) WAVE NET SALES WAVE $479 $496 $447 • 50/50 JV, established in 1992 with Armstrong World Industries • North American market leader in ceiling suspension sy
Slide 6: Consumer Products At-a-Glance
Consumer Products At-a-Glance A portfolio of market-leading brands that elevate the everyday experience of outdoor living, celebrations, and home improvement. KEY FIGURES (TTM AS OF Q2 FY26) $504M 16% $81M Tools Outdoor Living NET SALES ADJ. EBI TDA MARGI N ADJ. EBI TDA Hand-held torches, micro torc
Slide 7: Acquisition Strategy Focused on Driving Profitable Growth
Acquisition Strategy Focused on Driving Profitable Growth Targeted acquisition criteria: RECENT ACQUISITIONS • Market-leading positions in niche markets Pending / Announced December 2025 • High margin, high growth brands or products Building Products: Leading provider of commercial metal roof clips,
Slide 8: Pending Acquisition of LSI Group strengthens our Building Products portfolio
Pending Acquisition of LSI Group strengthens our Building Products portfolio and aligns with our acquisition strategy • Leading player in the commercial metal roofing clips, components and accessories markets with a strong competitive position driven by product quality, innovation and industry leadi
Slide 9: Adjusted EBITDA and Margin Grew Meaningfully on Year-over-Year Trailing Twelve Month Basis
Adjusted EBITDA and Margin Grew Meaningfully on Year-over-Year Trailing Twelve Month Basis Adjusted EBITDA ($ millions) +21% $9 ($15) $50 $5 $284 $235 Adj. EBITDA Margin Adj. EBITDA 22.7% Margin 20.1% TTM Q2 FY25 Building Products (excl JVs) WAVE ClarkDietrich Consumer Products TTM Q2 FY26 WAVE and
Slide 10: Strong Financial Profile with Attractive Upside
Strong Financial Profile with Attractive Upside High Margin, High Cash Flow, and Asset Light Adj. EBITDA Margin % (TTM) FCF Conversion (TTM)1 130.0% 95.6% 30.0% 110.0% Peer Average: 94.6% 22.7% Peer Average: 23.5% 90.0% 20.0% 70.0% 10.0% 50.0% 0.0% 30.0% AWI CSW CSL SSD WOR AOS FBIN MAS WDFC CSL AWI
Slide 11: Key Investment Highlights
Key Investment Highlights • Established Portfolio of Market-Leading Brands with High Barriers to Entry NET SALES OF FOUNDED IN $1.3 BILLION 1 1955 • Resilient, non-cyclical earnings driven by contractor end-use demand and diversified channels, supported by a primarily domestic manufacturing footprin
Slide 12: 26th Annual New Ideas for The New Year Investor Conference
26th Annual “New Ideas for The New Year” Investor Conference JANUARY 14, 2026 Joe Hayek – CEO Colin Souza - CFO
Slide 13: Appendix
ibdroot\projects\IBD-NY\trillium2020\664375_1\16. Investor Day Presentations\03. WOR Enterprises\2023.09.29 - Investor Day - WOR Enterprises Shell_v78.pptx Appendix
Slide 14: Worthington Enterprises - A Compelling Financial Profile
Worthington Enterprises - A Compelling Financial Profile Net Working Net Sales Adj. EBITDA1 Free Cash Flow1 Capital2 $1,254M $284M $161M $301M Adj. EBITDA Free Cash Flow Net Debt Fixed Assets Margin Conversion $125M 22.7% 95.6% $289M Note: TTM figures as of Q2 FY2026. 1 Refer to appendix for reconci
Slide 15: Reconciliation of Non-GAAP Measures
Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) See next slide for detailed footnotes related to reconciliation of Non-GAAP measures WORTHINGTON ENTERPRISES 15
Slide 16: Reconciliation of Non-GAAP Measures
Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) Non-GAAP Footnotes (1) EBIT and adjusted EBIT are non-GAAP financial measures. However, these measures are not used by management to evaluate the Company's performance, engage in financial and operational planning, or to deter
Slide 17: Reconciliation of Non-GAAP Measures
Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) Consolidated Results – Free Cash Flow Consolidated Results – Net Debt / TTM Adj. EBITDA WORTHINGTON ENTERPRISES 17
Slide 18: Reconciliation of Non-GAAP Measures
Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) Joint Venture Results – EBITDA WAVE Fiscal Year FY23 FY24 FY25 Net earnings (GAAP) $ 171.7 $ 206.0 $ 221.5 I nterest expense, net 13.0 17.3 16.8 I ncome tax expense 0.2 0.3 0.3 EBI T (subtotal) 184.9 223.5 238.6 Depreciation a
Slide 19: Use of Non-GAAP Measures and Definitions
Use of Non-GAAP Measures and Definitions NON-GAAP FINANCIAL MEASURES. These materials include certain financial measures that are not calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Non-GAAP financial measures typically exclude item
Slide 20: Use of Non-GAAP Measures and Definitions (Continued)
Use of Non-GAAP Measures and Definitions (Continued) EXCLUSIONS FROM NON-GAAP FINANCIAL MEASURES Management believes it is useful to exclude the following items from its non-GAAP financial measures for its own and investors’ assessment of the business for the reasons identified below. Additionally,