Worthington Enterprises, Inc

worthingtonenterprises.com

What Do They Do?

Makes building components for construction and gas customers, plus tools and outdoor-living products sold through retailers and distributors to consumers.

How Do They Make Money?

Customers place product orders at agreed prices and payment terms; sales are tied to when products ship or are delivered, depending on shipping terms.

revenue

Segment	Share	Revenue	How money arrives
Building Products Sold outright	62% FY2023: 51%		Sold outright
Consumer Products Sold outright	38% FY2023: 39%		Sold outright

Who Are Their Customers?

Building Products sells pressurized products to gas producers and distributors. Consumer Products sells mainly to mass merchandisers, retailers and distributors.

Customers above 10% of revenue, FY2026

of revenue from one customer

Do Revenues Turn Into Profits?

Yes. It kept 11 cents of every revenue dollar as net income in FY2026 and turned 12 cents into free cash flow.

Operating income, FY2026

6% of revenue

▲ Now profitable vs FY2025 (−$10.7M, −1%)

Net income, FY2026

11% of revenue

▲ +62% vs FY2025 ($96.1M, 8%)

Free cash flow, FY2026

12% of revenue

▲ +7% vs FY2025 ($159.2M, 14%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2027, the three months to Aug 31, 2026

Revenue: ▲ +13%; vs $303.7M in Q1 FY2026
Net income: ▲ +21%; vs $35.1M in Q1 FY2026

Flat. Revenue was $1.4B in FY2026, about the same as the $1.3B of FY2022.

Steel processing separation The older report describes value-added steel processing as a core business; the latest describes the company after that business was separated into an independent public company, with building and consumer products remaining as its reportable businesses.

Revenue over time

Building Products Consumer Products Other

$2B$1B$0

FY2022 FY2023 FY2024 FY2025 FY2026

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