Worthington reports Q3 adjusted EPS 91c, consensus 70c

Reports Q3 revenue $304.5M, consensus $289.09M. The company ended the quarter with cash of $222.8M, a decrease of $21.4M from the prior year’s quarter. During Q3, the company generated operating cash flow of $57.1M, of which $12.7M was invested in capital expenditures, resulting in free cash flow of $44.4M up from $41M in the prior year quarter. Capital expenditures in Q3 included approximately $7.6M related to ongoing facility modernization projects. Total debt at quarter end consisted entirely of long-term debt and was relatively unchanged from May 31, 2024, at $293.9M. The company had no borrowings under its revolving credit facility as of February 28, leaving $500M available for future use.