Worthington Enterprises Surpasses Q3 Records in Production and Shipments Amid Strong Revenue Growth
The Worthington Enterprises Third Quarter Fiscal 2025 Earnings Conference Call, held on March 26, 2025, was marked by a series of notable achievements that underscore the company's growth momentum. With Joe Hayek, President and Chief Executive Officer, at the helm, Worthington Enterprises recorded Q3 records in production and shipments, reflecting the team's commitment to delivering safe and efficient solutions to customers.
The company's adjusted EBITDA margin reached a strong 24% in the quarter, up from 21% in the previous year. Net sales were down by $12 million or 4% from the prior year due to the impact of SCS, but excluding this effect, revenues grew by over 8% in Q3. This growth was driven by the inclusion of Ragasco, improved demand as seasonal trends returned across value streams, and enhanced mix and continued share gains in various end markets.
"Our results in Q3 were outstanding," said Joe Hayek during the conference call. "Our teams have done a great job optimizing our current business and growing Worthington." He further emphasized the company's ability to understand and solve customer challenges through innovation, partnering with customers to drive their success, and expanding new markets.
Worthington Enterprises has continued to leverage its Business System, focusing on three growth drivers: innovation, transformation, and M&A. This approach enables the company to maximize both near-term and long-term success. As an example of this strategic thinking, the Building Products team launched a cutting-edge IoT-enabled product, sureSense, during Q3. This wireless propane level sensing technology helps propane marketers reduce costly customer runouts and increase efficiency.
In addition to innovative products, Worthington Enterprises has demonstrated its commitment to working with customers through partnerships. For instance, the company's consumer products team launched the balloon Time mini helium tank, now available at Target stores nationwide. This product showcases a user-friendly design that is easy to carry and suitable for various celebrations.
The company's building and consumer products teams are increasingly collaborating to bring innovative solutions and offerings to customers. A notable example of this collaboration is the expansion of Worthington products in Tractor Supply, where the company leveraged its commercial relationships to gain share and expand product breadth nationwide.
Worthington Enterprises has also invested in transformational change, prioritizing speed and agility in frontline manufacturing operations through automation and facility modernization projects. The company is embracing AI across facilities and back-office functions, adopting new ways of thinking and driving continuous improvement."
