By COLUMBUS, Ohio – Worthington Enterprises, Inc. (NYSE:WOR) reported first quarter fiscal 2025 results that fell short of analyst expectations, sending shares down 6.8% in after-hours trading.
The designer and manufacturer of market-leading brands posted adjusted earnings per share of $0.50 for the quarter ended August 31, missing the consensus estimate of $0.73. Revenue came in at $257.3 million, below analyst projections of $300.27 million and down 17.5% YoY.
“We had another respectable quarter thanks to our team’s focus on managing costs and serving our customers even as persistent higher interest rates and macroeconomic uncertainty continued to impact demand,” said Worthington Enterprises President and CEO Andy Rose.
The Consumer Products segment saw flat volumes but improved gross margins, delivering YoY earnings growth. However, the Building Products segment experienced weak volumes in its heating and cooking business, along with lower contributions from joint venture ClarkDietrich.
Operating loss narrowed to $4.7 million from $7.3 million in the prior year quarter. Adjusted EBITDA from continuing operations declined to $48.4 million from $65.9 million a year ago.
Despite near-term headwinds, Rose expressed optimism about the company’s long-term outlook, citing its strong balance sheet and market-leading products positioned to benefit from secular trends once demand normalizes.
Worthington Enterprises repurchased 150,000 shares for $6.8 million during the quarter and declared a quarterly dividend of $0.17 per share.
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