Worthington Enterprises Q3 Revenue Climbs 24% to $378.7M

Worthington Enterprises, Inc., an industrial manufacturing company based in Ohio, reported net revenue of $378.7 million for the three months ending February 28, 2026, a 24% increase from $304.5 million in the same period last year. The company posted net income of $45.5 million, compared to $39.7 million in the prior-year quarter. Read more earnings reports.

For the nine months ending February 28, 2026, total revenue reached $1.01 billion, up 21% from $835.9 million in the first nine months of fiscal 2025. Net income for the nine-month period totaled $107.9 million, versus $92.2 million a year earlier.

Operating Performance

Operating income for the third quarter of fiscal 2026 came in at $31.5 million, up from $20.9 million in the same quarter last year. Gross profit for the quarter was $109.5 million, compared to $89.2 million in the prior-year period. Cost of revenue rose to $269.2 million from $215.3 million.

Selling, general and administrative expenses increased to $75.7 million in the quarter from $63.0 million a year earlier. For the nine-month period, SG&A expenses totaled $217.0 million, up from $197.0 million in the prior year.

Cash and Balance Sheet

The company's cash and cash equivalents stood at $6.0 million as of February 28, 2026, down sharply from $250.1 million as of May 31, 2025. Total assets increased to $1.82 billion from $1.70 billion at the end of fiscal 2025.

Cash from operations for the three months ending February 28, 2026, was $61.9 million, compared to $57.1 million in the prior-year quarter. Cash from investing activities showed an outflow of $226.0 million in the latest quarter, versus $13.5 million in the year-ago period. For the nine months, investing activities consumed $343.9 million, compared to $115.1 million last year.

Long-term debt was $307.3 million as of February 28, 2026, versus $302.9 million at the end of fiscal 2025. Total stockholders' equity rose to $1.00 billion from $937.2 million.

Per Share Metrics

Diluted earnings per share for the third quarter were $0.92, up from $0.79 in the prior-year quarter. For the nine-month period, diluted EPS reached $2.17, compared to $1.84 last year. The diluted share count averaged 49.7 million shares in the quarter, down from 50.0 million a year earlier.

Key Financials

Goodwill on the balance sheet increased to $499.5 million as of February 28, 2026, from $376.5 million at the end of fiscal 2025. Intangible assets rose to $327.4 million from $190.4 million over the same period.