Worthington Enterprises Beats Q3 Expectations, Shares Soar 23%

Worthington Enterprises (NYSE:WOR) shares jumped more than 22% intra-day today after the company delivered a solid fiscal third-quarter performance, exceeding both earnings and revenue forecasts.

For the quarter, the company posted adjusted earnings per share of $0.91, well above analyst expectations of $0.70. Revenue reached $304.5 million, beating the $289.09 million consensus, despite a 4% year-over-year decline primarily due to the deconsolidation of the Sustainable Energy Solutions segment.

Excluding that impact, sales were buoyed by volume growth and contributions from the recently acquired Ragasco business, which joined the portfolio in the first quarter of fiscal 2025.

Profitability improved significantly, with earnings before income taxes up 30% to $52.6 million, and adjusted EBITDA from continuing operations rising 10% to $73.8 million. The company cited market share gains, a favorable product mix, and strong margin performance in core businesses as key drivers of the quarter’s success.

Meanwhile, Worthington’s joint ventures held steady, even as ClarkDietrich’s results normalized following a particularly strong prior-year period.

The company also demonstrated strong cash generation, with operating cash flow of $57.1 million and free cash flow of $44.4 million, marking year-over-year increases of 14% and 11%, respectively.