Worthington Enterprises Inc. reported strong financial performance for the second quarter of fiscal 2026.
Net sales increased by 19% to $327.5 million compared to the same period last year.
Adjusted net earnings grew by 7% to $32.5 million, and adjusted EBITDA increased by 8% to $60.5 million.
Net Sales Growth
Net sales rose by 19% to $327.5 million compared to the second quarter of fiscal 2025.
Adjusted Earnings Increase
Adjusted net earnings grew by 7% to $32.5 million, showing a positive trend in profitability.
Strategic Acquisition
Worthington Enterprises announced the acquisition of LSI Group for approximately $205 million, enhancing its market position in commercial metal roof products.
Cash Flow Improvement
Operating cash flow increased by 5% to $51.5 million, with free cash flow improving by 15% to $39.1 million.
Dividend Declaration
The company declared a quarterly dividend of $0.19 per share, reinforcing its commitment to returning value to shareholders.
- The increase in net sales was driven by higher volumes in Building Products, including contributions from the acquisition of Elgen Manufacturing.
- Operating income saw a significant increase due to higher volumes in Building Products, reaching $12.3 million for the quarter.
- The company's cash position decreased to $180.3 million, mainly due to the purchase of Elgen, but operating cash flow remained strong at $51.5 million.
Worthington Enterprises Inc.'s robust financial results reflect a successful quarter marked by sales growth, improved earnings, and a strategic acquisition. The company's focus on sustainable growth and value creation for shareholders is evident in its performance.