---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-063386"
form_type: "8-K"
ticker: "WOR"
cik: "0000108516"
company_name: "WORTHINGTON ENTERPRISES, INC."
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T03:10:45.968186+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Worthington Enterprises post-spin: $1.4B revenue, 21% EBITDA margin, 85% FCF conversion, 0.5x net debt

## Summary
- Separation of Worthington Industries into two public companies expected to close within a month.
- Pro forma Worthington Enterprises: ~$1.4B sales, 21% EBITDA margin, 85% FCF conversion, 20% ROIC.
- Balance sheet: ~0.5x net debt, $150M cash, $500M revolver; maintain investment grade rating.
- Long-term targets: 6-8% annual sales growth, 300bps EBITDA margin improvement, high FCF conversion.
- 80%+ of EBITDA from market-leading positions in building products, consumer brands, and sustainable energy.

## SEC filing metadata
- accession: 0000950170-23-063386
- form_type: 8-K
- ticker: WOR
- cik: 0000108516
- company_name: WORTHINGTON ENTERPRISES, INC.
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/108516/000095017023063386/0000950170-23-063386-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/108516/000095017023063386/wor-20231108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-063386
- JSON: https://secwatch.observer/filing/0000950170-23-063386.json
- Plain text: https://secwatch.observer/filing/0000950170-23-063386.txt

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