---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-032000"
form_type: "8-K"
ticker: "WOR"
cik: "0000108516"
company_name: "WORTHINGTON ENTERPRISES, INC."
filed_at: "2023-07-06T23:59:59+00:00"
generated_at: "2026-06-13T11:34:16.143394+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Worthington Industries Q4 FY2023 adjusted EPS $2.74, record adjusted EBITDA $211M

## Summary
- Adjusted EPS $2.74 vs $1.58 prior year; includes $0.49 inventory holding gain.
- Adjusted EBITDA $211M, up 52% YoY; net debt to EBITDA leverage 0.46x.
- Free cash flow $212M in Q4, $539M trailing twelve months.
- Dividend declared $0.32 per share, 3% increase over prior quarter.
- Terminated $175M A/R facility; redeemed $243.6M of 4.55% notes due 2026.

## SEC filing metadata
- accession: 0000950170-23-032000
- form_type: 8-K
- ticker: WOR
- cik: 0000108516
- company_name: WORTHINGTON ENTERPRISES, INC.
- filed_at: 2023-07-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.02, 2.02, 3.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/108516/000095017023032000/0000950170-23-032000-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/108516/000095017023032000/wor-20230629.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-032000
- JSON: https://secwatch.observer/filing/0000950170-23-032000.json
- Plain text: https://secwatch.observer/filing/0000950170-23-032000.txt

## Key facts
- Earnings Releases
  WORTHINGTON ENTERPRISES, INC. reported the fourth quarter and fiscal year ended May 31, 2023 results: revenue $1.2 billion, EPS $2.61 a share.
  - Period: the fourth quarter and fiscal year ended May 31, 2023
  - Revenue: $1.2 billion
  - EPS: $2.61 a share
  - Result: reported results
  source text: estimated to be $33 million or 49 cents a share, compared to inventory holding losses of $42 million or 64 cents a share in Q4 of 2022. Consolidated net sales in the quarter of $1.2 billion decreased 19% from the prior year due to the lower average selling prices in steel processing combined with lower volumes across most of our segments. Gross profit for the
  evidence_url: https://www.sec.gov/Archives/edgar/data/108516/000095017023032000/0000950170-23-032000-index.htm
- Material Agreements
  WORTHINGTON ENTERPRISES, INC. terminated Receivables Financing Agreement with PNC Bank, National Association, as administrator and a Lender, and PNC Capital Markets LLC, as structuring agent (effective 2023-06-29).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association, as administrator and a Lender, and PNC Capital Markets LLC, as structuring agent
  - Effective: 2023-06-29
  source text: On June 29, 2023, the Registrant and the Borrower terminated the Receivables Financing Agreement, the Purchase and Sale Agreement and the Performance Guaranty (collectively, the “A/R Facility Documents”) pursuant to the payoff letter dated as of June 29, 2023, by and among the Registrant, the Borrower, certain affiliates of the Registrant identified as Originators therein, PNC and PNC Capital Markets LLC (the “Payoff Letter”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/108516/000095017023032000/0000950170-23-032000-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.