WORTHINGTON ENTERPRISES, INC.
For the period ended Feb 28, 2025. Filed Apr 9, 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.
Feb 28, 2025 · Filed Apr 9, 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 Billing 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 |
| Current year period | The nine months ended February 28, 2025 |
| Current year quarter | The three months ended February 28, 2025 |
| Distribution | The pro-rata distribution of all outstanding shares of Worthington Steel whereby each holder of record of Worthington Enterprises common shares received one common share of Worthington Steel for every one common share of Worthington Enterprises held as of the Record Date. |
| DMI | Dodge Momentum Index |
| 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 | This Quarterly Report on Form 10-Q for the quarterly period ended February 28, 2025 |
| fiscal 2025 | Our fiscal year ended May 31, 2025 |
| fiscal 2024 | Our fiscal year ended May 31, 2024 |
| third quarter of fiscal 2025 | Our fiscal quarter ended February 28, 2025 |
| third quarter of fiscal 2024 | Our fiscal quarter ended February 29, 2024 |
| GAAP | U.S. generally accepted accounting principles |
| GDP | U.S. gross domestic product |
| Halo | WH Products, LLC |
| Hexagon | Hexagon Composites ASA |
| HMI | 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 |
| NYSE | New York Stock Exchange |
| N.M. | Not meaningful |
| OCI | Other comprehensive income (loss) |
| Prior year period | The nine months ended February 29, 2024 |
| Prior year quarter | The three months ended February 29, 2024 |
| PSLRA | Private Securities Litigation Reform Act of 1995, as amended |
| Ragasco | 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 scheduled 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. |
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