Worthington Enterprises, Inc. · NYSE:WOR
Worthington Enterprises — Q3 2026 Earnings Presentation
25 slides from Worthington Enterprises's earnings presentation, Mar 25, 2026
Slide 1: Q3 2026 Earnings Summary
Q3 2026 EARNINGS SUMMARY MAR C H 2 4 , 2 0 2 6 Product Shown: Roof Hugger (LSI Group)
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: Q3 FY26 / Recent Highlights
Q3 FY26 / Recent Highlights • Consolidated net sales of $379 million increased 24% year over year driven by higher overall volumes and the impact of recent acquisitions. Delivered solid financial results with year-over-year growth in Adj. EPS, Adj. EBITDA, and free cash flow for Q3. • Building Produ
Slide 4: Q3 FY26 Highlights – Financial Summary
Q3 FY26 Highlights – Financial Summary $ Millions except EPS Q3 Q3 Worthington Enterprises Consolidated FY26 FY25 Net Sales $379 $305 Adj. EBITDA $85 $74 % Margin 22.3% 24.2% Adj. EPS $0.98 $0.91 Building Products Segment Net Sales $224 $165 Adj. EBITDA $59 $53 % Margin 26.3% 32.3% Consumer Products
Slide 5: Building Products At-a-Glance
Building Products At-a-Glance KEY FIGURES (TTM AS OF Q3 FY26) Heating and Cooking Facilitating the transition away from fuel oil, as well as providing back-up power solutions. $808M 30% $243M Cooling and Construction NE T S AL E S AD J . E B I TD A M AR GI N AD J . E B I TD A Wholly-Owned Integral i
Slide 6: Building Products Joint Ventures
Building Products Joint Ventures JV FINANCIAL METRICS Market-leading businesses providing products critical to the building envelope ($ MILLIONS) WAVE NET SALES WAVE $447 $479 $496 • 50/50 JV, established in 1992 with Armstrong World Industries • North American market leader in ceiling suspension sy
Slide 7: Consumer Products At-a-Glance
Consumer Products At-a-Glance KEY FIGURES (TTM AS OF Q3 FY26) Tools Outdoor Living Hand-held torches, micro torches, Torches, fuel and accessories, $519M 17% $88M NET SALES ADJ. EBI TDA MARGI N ADJ. EBI TDA lighters, accessories and fuel for including the first in-market digital fuel constructing, f
Slide 8: Worthington Enterprises - A Compelling Financial Profile
Worthington Enterprises - A Compelling Financial Profile Net Working Net Sales Adj. EBITDA1 Free Cash Flow1 Capital2 $1,328M $297M $164M $322M Adj. EBITDA Free Cash Flow Net Debt Fixed Assets Margin Conversion $306M 22.4% 95.1% $305M Note: TTM figures as of Q3 FY2026. 1 Refer to appendix for reconci
Slide 9: Established Portfolio of Market-Leading Brands
Established Portfolio of Market-Leading Brands 80%+ of Adjusted EBITDA comes from brands and products with leading market positions Ceiling Metal Vertical Composite Hand Torch Camping Portable Well Suspension Framing Residential Heating & And Fuels Fuel Helium Tanks Water Tanks Systems Heating Tanks
Slide 10: …With a well-established strategic moat
…With a well-established strategic moat STRONG CULTURE Engaged employees who lead with safety, demonstrate a transformative mindset and PRODUCT INNOVATION Established processes and principles. maintain deep relationships with Technology enabled beyond competition. suppliers and customers. MANUFACTUR
Slide 11: Worthington Business System Accelerates Our Growth and Profitability
Worthington Business System Accelerates Our Growth and Profitability Acquisition Innovation We acquire strategic We innovate in capabilities and invest in partnership with our accretive opportunities. customers and suppliers. Our Philosophy Transformation Our deeply held Philosophy is rooted in the
Slide 12: Delivering organic growth through innovation, new product development and strategic market share wins
Delivering organic growth through innovation, new product development and strategic market share wins INNOVATION & NEW STRATEGIC SHARE WINS PRODUCT DEVELOPMENT AND PRODUCT PLACEMENT Amtrol Liquid Cooling Technologies – supporting the rapid expansion of data center Level5 Tools – gained placement for
Slide 13: Acquisition Strategy Focused on Driving Profitable Growth
Acquisition Strategy Focused on Driving Profitable Growth RECENT ACQUISITIONS Targeted acquisition criteria: • Market-leading positions in niche markets January 2026 Building Products: Leading provider of commercial metal roof clips, accessories, • High margin, high growth brands or products retrofi
Slide 14: Low Leverage, Ample Liquidity, and Solid Free Cash Flow Provides Financial Flexibility
Low Leverage, Ample Liquidity, and Solid Free Cash Flow Provides Financial Flexibility Net Leverage1: 1.0x Strong Net Debt / TTM Adj. EBITDA Balance Sheet Commitment to Maintaining Investment Grade Rating Financial Ample Liquidity2: $501M Flexibility TTM Free Cash Flow1: $164M Disciplined Focused on
Slide 15: Rewarding Shareholders
Disciplined Capital Allocation Strategy Focused on Growth and Rewarding Shareholders • Invest in facilities to maintain equipment and Capital Expenditures improve safety $56 (8%) $112 • Strategic capex to drive further growth (17%) $85 Growth (13%) • Focus on market leading niche businesses in build
Slide 16: 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 17: Corporate Citizenship & Sustainability
Corporate Citizenship & Sustainability FY25 Highlights PEOPLE PROCESS & PLANET Outperforming safety total case incident rate (TCIR) Fostering an engaged and inclusive workforce Reducing our environmental footprint Introducing corporate recycling and organics diversion programs LEADING 40% 85% 88% TH
Slide 18: 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 19: Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions)
Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) See detailed footnotes related to reconciliation of Non-GAAP measures for more information WORTHINGTON ENTERPRISES 19
Slide 20: Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions)
Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) See detailed footnotes related to reconciliation of Non-GAAP measures for more information WORTHINGTON ENTERPRISES 20
Slide 21: Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions)
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 22: Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions)
Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) Consolidated Results – Free Cash Flow Consolidated Results – Net Debt / TTM Adj. EBITDA WORTHINGTON ENTERPRISES 22
Slide 23: Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions)
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 24: 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 25: 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,
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