Q3 2025 Worthington Enterprises Inc Earnings Call Transcript
Key Points
- Worthington Enterprises Inc (WOR) set Q3 records in production and shipments, reflecting strong operational performance.
- The company achieved year-over-year and sequential growth in both adjusted EBITDA and earnings per share, with an adjusted EBITDA margin of 24% compared to 21% a year ago.
- Excluding the impact of SES, revenues grew by over 8% in Q3, driven by the inclusion of Ragasco and improved demand.
- The Building Products team launched innovative products like SureSense, enhancing customer efficiency and reducing costs.
- Worthington Enterprises Inc (WOR) maintains a strong balance sheet with low leverage and ample liquidity, supported by a $500 million undrawn bank credit facility.
- Net sales decreased by 3.9% to $305 million, primarily due to the deconsolidation of the Sustainable Energy Solutions segment.
- The quarter was negatively impacted by net pretax restructuring and other charges of $5 million, affecting earnings per share.
- ClarkDietrich, a joint venture, experienced a decline in equity earnings due to lower steel prices and unfavorable weather conditions.
- The Consumer Products segment faced a $1 million charge related to a customer bankruptcy, impacting SG&A expenses.
- Macroeconomic uncertainty and potential tariff impacts pose risks to future demand and pricing strategies.
Good morning, and welcome to the Worthington Enterprises third quarter fiscal 2025 earnings conference call. (Operator Instructions) This conference is being recorded at the request of Worthington Enterprises. If anyone objects, you may disconnect at this time.
I would now like to introduce Marcus Rogier, Treasurer and Investor Relations Officer. Mr. Rogier, you may begin.
Thank you, Sarah. Good morning, everyone, and thank you for joining us for Worthington Enterprises third quarter fiscal 2025 earnings call. On our call today, we have Joe Hayek, Worthington's President and Chief Executive Officer; and Colin Souza, Worthington's Chief Financial Officer.
Before we get started, I'd like to note that certain statements made today are forward-looking within the meaning of the 1995 Private Securities Litigation Reform Act. These statements are subject to risks and uncertainties that could cause actual results to differ from those suggested. We issued our earnings
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