Reported Q: Q2 2025 Rev YoY: -74.8% EPS YoY: +16.3% Move: -1.07%
Worthington Industries
WOR
$58.47 -1.07%
Exchange NYSE Sector Industrials Industry Manufacturing Metal Fabrication
Q2 2025
Published: Jan 10, 2025

Company Status Snapshot

Fast view of the latest quarter outcome for WOR

Reported

Report Date

Jan 10, 2025

Quarter Q2 2025

Revenue

274.05M

YoY: -74.8%

EPS

0.56

YoY: +16.3%

Market Move

-1.07%

Previous quarter: Q1 2025

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Earnings Highlights

  • Revenue of $274.05M down 74.8% year-over-year
  • EPS of $0.56 increased by 16.3% from previous year
  • Gross margin of 27.0%
  • Net income of 28.26M
  • "we're thinking more like a startup and we're pursuing initiatives to optimize our margins as we grow Worthington." - Joe Hayek
WOR
Company WOR

Executive Summary

Worthington Industries reported a solid QQ2 2025 performance with a notable step-up in gross margins and sustained cash generation, underscoring the resilience of its diversified industrial portfolio even as reported revenue declined year-over-year. Consolidated net sales were $274 million, down 8.1% YoY largely due to the deconsolidation of the Sustainable Energy Solutions (SES) segment, which contributed $28 million in the prior-year quarter. Despite the revenue headwind, gross profit rose to $74.0 million and gross margin expanded to 27.0%, a roughly 580-basis-point improvement driven by the elimination of SES margin drag, the inclusion of the Ragasco acquisition, and higher-margin product mix. Adjusted EBITDA stood at $56 million, with margins tracking to 20.1% on a trailing-twelve-month basis. The quarter also featured a $3 million pre-tax restructuring charge, primarily tied to an executive retirement, which partially offset a $0.04 per share drag; excluding these items, adjusted earnings per share were $0.60, up from $0.57 in Q2 2024. Free cash flow reached $34 million, supported by $49 million in operating cash flow and a modest capex program (~$15 million). The balance sheet remains robust: liquidity is ample (undrawn $500 million credit facility), net debt stood at $102 million, and cash balances were $194 million at quarter-end, producing a net debt to trailing adjusted EBITDA ratio of <0.5x. Management articulated a clearly defined path toward margin optimization and growth, including ongoing integration of Ragasco, execution of the Worthington Business System, and disciplined capital allocation toward growth (and selective buybacks to offset dilution). Looking forward, executives stressed a

Key Performance Indicators

Revenue
Decreasing
274.05M
QoQ: 6.51% | YoY: -74.79%
Gross Profit
Decreasing
74.06M
27.02% margin
QoQ: 18.50% | YoY: -40.14%
Operating Income
Increasing
3.52M
QoQ: 174.93% | YoY: 159.36%
Net Income
Increasing
28.26M
QoQ: 16.52% | YoY: 16.29%
EPS
Increasing
0.57
QoQ: 16.33% | YoY: 16.33%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2026 303.71 0.71 -4.7% View
Q3 2025 304.52 0.79 -3.9% View
Q2 2025 274.05 0.56 -74.8% View
Q1 2025 257.31 0.48 -78.4% View
Q4 2024 318.80 -0.64 -74.1% View