--- title: "Worthington Enterprises | 8-K: FY2026 Revenue Beats Estimate at USD 1.4 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/291020747.md" datetime: "2026-06-27T02:46:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291020747.md) - [en](https://longbridge.com/en/news/291020747.md) - [zh-HK](https://longbridge.com/zh-HK/news/291020747.md) --- # Worthington Enterprises | 8-K: FY2026 Revenue Beats Estimate at USD 1.4 B Revenue: As of FY2026, the actual value is USD 1.4 B, beating the estimate of USD 1.396 B. EPS: As of FY2026, the actual value is USD 3.14, missing the estimate of USD 3.21. #### Net Cash Provided by Operating Activities (GAAP) - For the fourth quarter of 2026, net cash provided by operating activities was $71,601 thousand. - For the third quarter of 2026, net cash provided by operating activities was $61,938 thousand. - For the second quarter of 2026, net cash provided by operating activities was $51,518 thousand. - For the first quarter of 2026, net cash provided by operating activities was $41,061 thousand. #### EBITDA (non-GAAP) - EBITDA for the fourth quarter of 2026 was $81,839 thousand. - EBITDA for the third quarter of 2026 was $80,589 thousand. - EBITDA for the second quarter of 2026 was $54,641 thousand. - EBITDA for the first quarter of 2026 was $62,584 thousand. #### Adjusted EBITDA (non-GAAP) - Adjusted EBITDA for the fourth quarter of 2026 was $83,523 thousand. - Adjusted EBITDA for the third quarter of 2026 was $84,615 thousand. - Adjusted EBITDA for the second quarter of 2026 was $60,478 thousand. - Adjusted EBITDA for the first quarter of 2026 was $67,211 thousand. - For fiscal year 2026, Adjusted EBITDA was $295,827 thousand. Adjusted EBITDA growth for fiscal year 2026 was 12%, totaling $296 million. #### Net Debt and Leverage - Long-term debt as of May 31, 2026, was $305,896 thousand. - Cash and cash equivalents as of May 31, 2026, were $27,725 thousand. - Net debt as of May 31, 2026, was $278,171 thousand. The net debt to fiscal 2026 Adjusted EBITDA ratio was 0.9. For Q4, net debt was $278 million, and the net debt to trailing adjusted EBITDA ratio was less than one time. #### Fiscal Year 2026 Performance - Total sales growth was 20%, with organic growth at 9%. - Free cash flow was $170 million, with a conversion rate of 102% relative to adjusted net earnings. - SG&A as a percentage of sales was reduced by 200 basis points. - Capital investments for a modernization project totaled $25 million. - Worthington Enterprises, Inc. received $30 million less in dividend distributions from ClarkDietrich compared to the prior year. - Approximately $13 million of ASME tanks for data centers were shipped during fiscal 2026. #### Building Products Segment (Full Year Fiscal 2026) - Adjusted EBITDA increased $27 million (13%) to $240 million. - There was a decline of $19 million in equity earnings from ClarkDietrich. - Wholly owned businesses adjusted EBITDA increased 62% to $100 million, with an adjusted EBITDA margin expansion of 220 basis points to 11.7%. #### Consumer Products Segment (Full Year Fiscal 2026) - Net sales increased 4% to $520 million. - Adjusted EBITDA increased 10% to $91 million, with an adjusted EBITDA margin expansion of approximately 100 basis points to 17.5%. #### Fourth Quarter 2026 Performance - Sales increased by 17%, with organic growth at 3%. Consolidated net sales were $371 million, up 17% compared to $318 million in the prior year quarter, with acquisitions contributing $44 million. - Net earnings were $48 million, an increase from $4 million a year ago, with adjusted net earnings also at $48 million. - Adjusted EBITDA was $83.5 million, compared to $85.1 million in the prior year quarter, resulting in an Adjusted EBITDA margin of 22.5%. - Lower equity income contributions from ClarkDietrich were down $7 million. - Gross profit was $102 million, compared to $93 million in the prior year quarter, with a gross margin of 27.4% compared to 29.3% a year ago. - SG&A as a percentage of sales was reduced by 150 basis points. - Operating cash flow was $72 million, compared to $62 million in the prior year period. - Free cash flow was $55 million, an increase from $49 million. - Capital expenditures were $16 million, including $7 million for facility modernization. - Dividends returned to shareholders totaled $9 million, and 350,000 shares were repurchased for $18 million. - Joint ventures dividends were $35 million, representing 90% of equity income. - Worthington Enterprises, Inc. has an undrawn revolving credit facility of $500 million. - A quarterly dividend of 20 cents per share was declared, an increase of 5% from the prior quarter. #### Building Products Segment (Q4) - Net sales grew 28% year over year to $245 million, up from $192 million in the prior year quarter, with acquisitions contributing $44 million. - Net sales excluding acquisitions increased 5% year over year on higher overall volumes. - Adjusted EBITDA was $69 million, compared to $71 million in the prior year quarter, with an Adjusted EBITDA margin of 27.9%. - ClarkDietrich’s contributions were down approximately $7 million compared to Q4 last year. #### Consumer Products Segment (Q4) - Net sales were $126 million, essentially flat compared to the prior year quarter. - Adjusted EBITDA was $24 million, up from $21 million in Q4 last year, with EBITDA margins expanding to 19.2% from 16.6%. #### Outlook / Guidance Worthington Enterprises, Inc. expects to ship at least $13 million of ASME tanks for data centers in the first quarter of fiscal 2027, matching fiscal 2026’s total. The company anticipates completing its modernization project by the middle of fiscal 2027, with approximately $16 million in remaining spend, after which capital expenditures should normalize. While headwinds for the cooling and construction business due to A2L transition are expected to moderate by Q2, the comparison will continue to normalize over the next couple of quarters. ### Related Stocks - [WOR.US](https://longbridge.com/en/quote/WOR.US.md) ## Related News & Research - [Major Insider Shake-Up at Worthington Industries Stuns Market Watchers](https://longbridge.com/en/news/293409627.md) - [Worthington Enterprises 10% Owner Sold Shares Worth Over $8.2M](https://longbridge.com/en/news/293368707.md) - [Red Light Holland reports FY results](https://longbridge.com/en/news/294223386.md) - [Hilton Worldwide announces Q3 2026 distribution of R$ 0.02 per unit](https://longbridge.com/en/news/294238525.md) - [Baxter Q2 2026 Earnings Preview](https://longbridge.com/en/news/294224876.md)