WORTHINGTON ENTERPRISES INC
For the period ended Aug 31, 2024. Filed Oct 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Aug 31, 2024 · Filed Oct 7, 2024
WOR$60.50-1.2%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Commonly Used or Defined Terms
References in this Form 10-Q to “we,” “our,” “us” or the “Company” are collectively to Worthington Enterprises and its consolidated subsidiaries. In addition, the following terms, when used in this Form 10-Q, have the meanings set forth below:
| Term | Definition |
|---|---|
| ABI | Architecture Billings Index |
| AOCI | Accumulated other comprehensive income (loss) |
| Board | Board of Directors of Worthington Enterprises, Inc. |
| CARES Act | Coronavirus Aid, Relief and Economic Security Act |
| ClarkDietrich | Clarkwestern Dietrich Building Systems LLC |
| CODM | Chief Operating Decision Maker |
| common shares | The common shares, no par value, of Worthington Enterprises |
| COVID-19 | The novel coronavirus disease first known to originate in December 2019 |
| Credit Facility | Our $500,000,000 unsecured revolving credit facility with a group of lenders |
| EPS | Earnings per common share |
| equity income | Equity in net income of unconsolidated affiliates |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| Form 10-Q | Our Quarterly Report on Form 10-Q for the quarterly period ended August 31, 2024 |
| fiscal 2024 | Our fiscal year ended May 31, 2024 |
| fiscal 2025 | Our fiscal year ended May 31, 2025 |
| first quarter of fiscal 2024 | Our fiscal quarter ended August 31, 2023 |
| first quarter of fiscal 2025 | Our fiscal quarter ended August 31, 2024 |
| GAAP | U.S. generally accepted accounting principles |
| GDP | Gross domestic product |
| Halo | WH Products, LLC |
| HMI | The National Association of Home Builders/Wells Fargo Housing Market Index |
| MD&A | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
| New Senior Notes | Collectively, the senior unsecured note issued by Worthington Enterprises on August 23, 2019, in the principal amount of €36,700,000 that bears interest at a rate of 2.06% and is scheduled to be repaid on August 23, 2031, and the senior unsecured notes issued by Worthington Enterprises on August 23, 2019, in the principal amount of €55,000,000 that bear interest at a rate of 2.40% and are scheduled to be repaid on August 23, 2034. |
| OCI | Other comprehensive income (loss) |
| PSLRA | Private Securities Litigation Reform Act of 1995, as amended |
| Ragasco | Hexagon Ragasco AS |
| SEC | Securities and Exchange Commission |
| Separation | The separation of our former steel processing business, effective December 1, 2023 |
| SG&A | Selling, general and administrative expenses |
| SOFR | Secured Overnight Financing Rate |
| U.S. | United States of America |
| WAVE | Worthington Armstrong Venture |
| Workhorse | Taxi Workhorse Holdings, LLC |
| Worthington Enterprises | Worthington Enterprises, Inc. (formerly known as Worthington Industries, Inc.) |
| Worthington Steel | Worthington Steel, Inc. |
| 2024 Notes | The senior unsecured notes that we issued on August 10, 2012, in the principal amount of $150,000,000, which bore interest at a rate of 4.60%, were set to mature on August 10, 2024, and were paid in full on December 6, 2023. |
| 2026 Notes | The senior unsecured notes that we issued on April 15, 2014, in the principal amount of $250,000,000, which bore interest at a rate of 4.55%, were scheduled to mature on April 15, 2026, and were paid in full on July 28, 2023. |
ii
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.