WORTHINGTON ENTERPRISES INC
For the period ended Nov 30, 2024. Filed Jan 10, 2025.
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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.
Nov 30, 2024 · Filed Jan 10, 2025
WOR$60.50-1.2%Stored close · as of Nov 6, 2026
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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) |
| ASU | Accounting Standards Update |
| Board | Board of Directors of Worthington Enterprises, Inc. |
| CARES Act | Coronavirus Aid, Relief and Economic Security Act |
| CEO | Chief Executive Officer |
| 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 |
| CPI | U.S. Core Consumer Price Index |
| Credit Facility | Our $500,000,000 unsecured revolving credit facility with a group of lenders |
| EBIT | Earnings before interest and taxes |
| EPS | Earnings per common share |
| equity income | Equity in net income of unconsolidated affiliates |
| ETR | Effective income tax rate |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| Form 10-Q | Our Quarterly Report on Form 10-Q for the quarterly period ended November 30, 2024 |
| fiscal 2024 | Our fiscal year ended May 31, 2024 |
| fiscal 2025 | Our fiscal year ended May 31, 2025 |
| second quarter of fiscal 2024 | Our fiscal quarter ended November 30, 2023 |
| second quarter of fiscal 2025 | Our fiscal quarter ended November 30, 2024 |
| GAAP | U.S. generally accepted accounting principles |
| GDP | U.S. gross domestic product |
| Halo | WH Products, LLC |
| HMI | The National Association of Home Builders/Wells Fargo Housing Market Index |
| LIRA | Leading Indicator of Remodeling Activity |
| MD&A | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
| N.M. | Not meaningful |
| 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. |
| 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. |
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