Worthington Industries Inc
F:WTH
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Worthington Industries Inc
F:WTH
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Worthington Industries Inc
Worthington Industries makes metal products that sit in the middle of long industrial supply chains. It sells steel processing and pressure-cylindar products used in applications like construction, transportation, HVAC, energy, and industrial equipment. The company also sells consumer and building products that include items such as tools, storage, and other everyday metal-based goods. Its customers are mostly other businesses rather than individual shoppers. Steel customers buy processed sheet and other metal parts that are cut, shaped, or finished to fit their manufacturing needs. Pressure-cylinder customers include makers and distributors of propane, refrigerants, industrial gases, and similar products that need safe, standardized containers. Worthington makes money by turning raw steel and other materials into higher-value products, then selling those products through long-term industrial relationships and branded retail channels. What sets the company apart is its role as a specialist processor and fabricator of steel and pressure vessels, not a raw-material miner or a broad factory owner. It sits close to the point where metal becomes a finished part or product, which makes it an important supplier to both industrial customers and consumers.
Worthington Industries makes metal products that sit in the middle of long industrial supply chains. It sells steel processing and pressure-cylindar products used in applications like construction, transportation, HVAC, energy, and industrial equipment. The company also sells consumer and building products that include items such as tools, storage, and other everyday metal-based goods.
Its customers are mostly other businesses rather than individual shoppers. Steel customers buy processed sheet and other metal parts that are cut, shaped, or finished to fit their manufacturing needs. Pressure-cylinder customers include makers and distributors of propane, refrigerants, industrial gases, and similar products that need safe, standardized containers.
Worthington makes money by turning raw steel and other materials into higher-value products, then selling those products through long-term industrial relationships and branded retail channels. What sets the company apart is its role as a specialist processor and fabricator of steel and pressure vessels, not a raw-material miner or a broad factory owner. It sits close to the point where metal becomes a finished part or product, which makes it an important supplier to both industrial customers and consumers.
Revenue: Consolidated net sales were $379.0 million in Q3, up 24% year‑over‑year, driven by 14% organic growth and $32 million from recent acquisitions.
Profitability: GAAP EPS was $0.92 (prior year $0.79); adjusted EPS was $0.98, marking the sixth consecutive quarter of year‑over‑year adjusted EPS growth.
EBITDA: Adjusted EBITDA for the quarter was $85.0 million (22.3% margin); trailing 12‑month adjusted EBITDA was $297.0 million, up $54.0 million year‑over‑year.
Segments: Building Products revenue was $224.0 million (up 36% YoY) and adjusted EBITDA $59.0 million (26.3% margin); Consumer Products revenue was $155.0 million (up 11% YoY) and adjusted EBITDA $35.0 million (22.9% margin).
Cash & capital allocation: Operating cash flow $62.0 million, free cash flow $48.0 million (TTM free cash flow $164.0 million; 95% conversion vs adjusted net earnings); returned capital via $9.0 million dividends and repurchase of 100,000 shares.
Growth drivers / outlook: Management highlighted data‑center demand (especially liquid cooling/water tanks) as a multi‑year growth opportunity, continued M&A (LSI closed mid‑Q3), product innovation (Balloon Time retail gains) and operational improvement via the Worthington Business System and targeted AI deployments.
