Worthington Enterprises, Inc. · NYSE:WOR
Worthington Enterprises — 2025 Global Industrial Conference
26 slides from Worthington Enterprises's conference presentation, Jan 16, 2026
Slide 1: 2025 Global Industrial Conference
November 13, 2025 2025 Global Industrial Conference Joe Hayek – CEO Colin Souza - CFO
Slide 2: Notes to Investors: Forward-Looking Statements
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 and Company Overview
1955 Established Portfolio of Market-Leading Brands with High Barriers to Entry Strong Underlying Secular Trends Enabling Steady Long-Term Growth Business Model Drives High Free Cash Flow and Returns Worthington Business System Accelerates Growth and Profitability Innovation For Highly Engineered Pr
Slide 4: Building Products At-a-Glance
Key Figures (TTM as of Q1 FY26) ($ Millions) Financial Metrics Net Sales Adj. EBITDA 33% Adj. EBITDA Margin $229M Adj. EBITDA $699M Net Sales Building Products At-a-Glance Heating and Cooking Cooling and Construction Facilitating the transition away from fuel oil, as well as providing back-up power
Slide 5: Building Products Joint Ventures
Note: Financial metrics represent 100% of stand-alone JV results for WOR fiscal periods ending May 31st. Equity income contributed from WAVE and ClarkDietrich is included in Adj. EBITDA for the Building Products segment. Building Products Joint Ventures Market-leading businesses providing products c
Slide 6: Consumer Products At-a-Glance
Consumer Products At-a-Glance $501M Net Sales 16% Adj. EBITDA Margin $81M Adj. EBITDA Net Sales Adj. EBITDA Key Figures (ttm AS OF Q1 FY26) ($ Millions) Financial Metrics Hand-held torches, micro torches, lighters, accessories and fuel for constructing, fixing, making and creating. Precision and spe
Slide 7: Worthington Business System Accelerates Our Growth and Profitability
Innovation We innovate in partnership with our customers and suppliers. Transformation Through continuous transformation, we drive higher margins within manufacturing, commercial, sourcing and supply chain excellence. Acquisition We acquire strategic capabilities and invest in accretive opportunitie
Slide 8: Innovation, new product development and strategic share wins
Delivering organic growth through innovation, new product development and strategic market share wins INNOVATION & NEW PRODUCT DEVELOPMENT STRATEGIC SHARE WINS AND PRODUCT PLACEMENT SureSense – IoT-enabled propane level sensor designed to improve efficiency for propane marketers Level5 Tools – gaine
Slide 9: Acquisition Strategy Focused on Driving Profitable Growth
Acquisition Strategy Focused on Driving Profitable Growth Market-leading positions in niche markets High margin, high growth brands or products Asset-light or low capital intensity business model Exposure to channels within building or consumer products Additive capabilities that enhance or expand o
Slide 10: A Compelling Financial Profile
Worthington Enterprises - A Compelling Financial Profile Net Sales $1,200M Free Cash Flow1 $156M Adj. EBITDA1 $280M Note: TTM figures as of Q1 FY2026. 1 Refer to appendix for reconciliation of non-GAAP measures to the comparable GAAP measure. 2 Net Working Capital is defined as Accounts Receivable (
Slide 11: Adjusted EBITDA and Margin Grew on Year-over-Year TTM Basis
Adjusted EBITDA and Margin Grew Meaningfully on Year-over-Year Trailing Twelve Month Basis Adj. EBITDA Margin 23.3% Adj. EBITDA Margin 19.6% +20% Adjusted EBITDA from Continuing Operations ($ millions) WAVE and ClarkDietrich results reflect their contributions to Worthington’s equity income Refer to
Slide 12: Low Leverage, Ample Liquidity, and Solid Free Cash Flow
Low Leverage, Ample Liquidity, and Solid Free Cash Flow Provides Financial Flexibility Strong Balance Sheet 12 Financial Flexibility Disciplined Capital Allocation Ample Liquidity2: $667M TTM Free Cash Flow1: $156M Focused on growth and rewarding shareholders Net Leverage1: 0.5x Net Debt / TTM Adj.
Slide 13: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Focused on Growth and Rewarding Shareholders Invest in facilities to maintain equipment and improve safety Strategic capex to drive further growth $211 million of capital redeployed in FY25 ($ millions) *FY25 Capex includes $25 million related to the company’s
Slide 14: Strong Financial Profile with Attractive Upside
Strong Financial Profile with Attractive Upside Source: Company Filings| Note: Metrics represents FY25 for WOR and most recent TTM period for Peers. Peers include: A. O. Smith, Armstrong World Industries, Carlisle Companies, CSW Industrials, Fortune Brands International, Masco Corporation, Simpson M
Slide 15: Key Investment Highlights
1955 Established Portfolio of Market-Leading Brands with High Barriers to Entry Strong Underlying Secular Trends Enabling Steady Long-Term Growth Business Model Drives High Free Cash Flow and Returns Worthington Business System Accelerates Growth and Profitability Innovation For Highly Engineered Pr
Slide 16: Appendix
Appendix Ww
Slide 17: Established Portfolio of Market-Leading Brands
Established Portfolio of Market-Leading Brands Vertical Residential Heating Tanks Well Water Tanks Ceiling Suspension Systems Camping Fuel Metal Framing Portable Helium Tanks Hand Torch And Fuels 80%+ of Adjusted EBITDA comes from brands and products with leading market positions Note: FY2025 period
Slide 18: Strategic Moat
STRONG CULTURE Engaged employees who lead with safety, demonstrate a transformative mindset and maintain deep relationships with suppliers and customers. MANUFACTURING OPERATIONS Highly engineered, precise and compliant metal manufacturing with uncompromised safety and quality. REGULATORY EXPERTISE
Slide 19: Markets Positioned to Capitalize on Secular Trends
Foam & Adhesive Re-shoring and Near Shoring Manufacturing investment in the U.S. in early stages of multi-year resurgence Metal Framing Industrial Products HVAC Products Serving Markets that are Well Positioned to Capitalize on Strong Secular Trends Housing undersupply and population trends support
Slide 20: FY25 Corporate Citizenship & Sustainability Highlights
Ensuring curbside recyclability 100% FY25 Highlights Workforce Development Corporate Citizenship & Sustainability LEADING THE WAY PEOPLE PARTNERS PRODUCTS PROCESS & PLANET DONATED TO NON-PROFIT ORGANIZATIONS FROM THE WORTHINGTON COMPANIES FOUNDATION OF SUPPLIERS INDIRECTLY MONITORED AND 75% OF OUR S
Slide 21: 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
Slide 22: Non-GAAP Footnotes
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 determine incentive compensation. Instead, they are included as subtotals in th
Slide 23: Consolidated Results – Free Cash Flow and Net Debt
Consolidated Results – Free Cash Flow Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions) Consolidated Results – Net Debt / TTM Adj. EBITDA
Slide 24: Joint Venture Results - EBITDA
Joint Venture Results - EBITDA Worthington Enterprises Reconciliation of Non-GAAP Measures (in millions)
Slide 25: 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 26: 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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