Worthington Enterprises Q2 sales rise 19% to $327.5 million; GAAP EPS $0.55
Worthington Enterprises reported fiscal 2026 second-quarter results, with net sales up 19.5% to $327.5 million, driven mainly by Building Products and the Elgen acquisition. GAAP net earnings fell 3% to $27.0 million, while adjusted EPS rose to $0.65 from $0.60. The company also agreed to acquire LSI Group for about $205 million, expected to close in January 2026, and declared a $0.19 quarterly dividend.
- Net sales were $327.5 million, up from $274.0 million; Building Products sales rose 31.9% to $207.5 million.
- GAAP net earnings were $27.0 million, down from $28.0 million; diluted EPS was $0.55 versus $0.56.
- Adjusted diluted EPS was $0.65 versus $0.60 a year earlier, excluding restructuring, an SES-related loss and an unrealized securities loss.
- Agreed to acquire LSI Group for about $205 million, funded with cash and revolver borrowings; the board also appointed Charles M. Chiappone as a director effective immediately.