Worthington Enterprises Q1 revenue beats estimates on acquisitions

By Reuters News


Overview

  • U.S. building products maker's fiscal Q1 revenue grew 13% yr/yr, beating analyst expectations

  • Adjusted EPS for fiscal Q1 rose 5% yr/yr to $0.82

  • Company repurchased 335,000 shares for $18.2 mln during the quarter


Outlook

  • Worthington Enterprises says it remains focused on innovation and operational improvement

  • Company says strong free cash flow and healthy balance sheet provide flexibility to pursue growth opportunities


Result Drivers

  • ACQUISITIONS - Recent acquisitions contributed 6% to revenue growth in Q1, accounting for $19.2 mln of net sales increase

  • ORGANIC GROWTH - Organic growth drove 7% of revenue increase in Q1, per CEO Joe Hayek

  • SEGMENT MIX - Trade & Specialty Solutions benefited from higher volume and selling prices, while Building Performance Solutions faced lower volume and unfavorable product mix


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

Beat

$343.90 mln

$331.27 mln (5 Analysts)

Q1 Net Income

$42.60 mln

Q1 Adjusted EPS

$0.82


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

  • Wall Street's median 12-month price target for Worthington Enterprises, Inc. is $67.00, about 15.2% above its September 21 closing price of $58.15

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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