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NEW YORK--(BUSINESS WIRE)--MSCI Inc. (NYSE: MSCI) appointed Kashi Kakarla as Chief Technology Officer and Head of Product Engineering, effective June 22. He will report to Henry Fernandez, Chairman and Chief Executive Officer, and will serve on MSCI's Management Committee. Kakarla joins from Intuit, where he spent 17 years building and transforming products and platforms serving millions of customers worldwide. Most recently, he led technology and engineering for the Intuit Small Business Platf.

Baron Focused Growth Fund (BFGIX - Free Report) is an actively managed mutual fund that seeks long-term capital appreciation by investing primarily in small and mid-cap growth companies. Managed by Ronald Baron and David Baron, the fund employs a high-conviction, non-diversified strategy, typically holding a relatively small number of stocks compared with many diversified growth funds.

The fund has delivered strong long-term results. As of April 2026, BFGIX generated a 10-year annualized return of 20.51%, significantly outperforming both the Russell 2500 Growth Index and the broader Russell 3000 Index. Five-year annualized returns were 10.23%, while one-year returns soared to 27.65%, reflecting the fund’s ability to benefit from successful stock selection and long-term growth trends.

A distinguishing feature of BFGIX is its concentrated portfolio. The fund typically owns around 20 to 35 holdings, allowing successful investments to have a meaningful impact on performance. As of March 2026, major positions included private aerospace company SpaceX, along with holdings in Tesla, MSCI, Hyatt Hotels, Spotify and Interactive Brokers. The top 10 holdings currently account for nearly half of total assets.

A key driver of BFGIX’s strong recent performance has been the substantial appreciation in the estimated valuations of its private investments, particularly SpaceX and, thus, indirectly, xAI, which was taken over by SpaceX. These holdings have benefited from growing investor enthusiasm surrounding artificial intelligence, space technology and innovation-driven businesses.

The strategy focuses on businesses that management believes possess durable competitive advantages, strong leadership and significant growth opportunities. While this approach has contributed to impressive long-term returns, it also increases portfolio risk. A concentrated structure means performance can be heavily influenced by a limited number of investments, leading to periods of higher volatility than more diversified funds.

BFGIX currently carries a Zacks Mutual Fund Rank #2 (Buy) within the Mid-Cap Growth category, reflecting its strong risk-adjusted performance over time. For investors evaluating actively managed growth funds, BFGIX stands out for its concentrated portfolio, substantial exposure to innovative companies and long-term record of outperforming key benchmarks, though its focused nature may not suit all risk profiles.

However, being an actively managed fund, its expense ratio is slightly on the higher side at 1.05, and its entry point is expensive at a minimum initial investment of $1,000,000.

Mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges that are mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).

Want key mutual fund info delivered straight to your inbox?Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>

Wall Street analysts expect Winnebago Industries (WGO - Free Report) to post quarterly earnings of $0.25 per share in its upcoming report, which indicates a year-over-year increase of 31.6%. Revenues are expected to be $625.03 million, up 0.8% from the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

In light of this perspective, let's dive into the average estimates of certain Winnebago metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts expect 'Net Revenues- Motorhome RV' to come in at $235.66 million. The estimate indicates a change of 0% from the prior-year quarter.

Analysts predict that the 'Net Revenues- Marine' will reach $84.83 million. The estimate indicates a year-over-year change of +3.8%.

The collective assessment of analysts points to an estimated 'Net Revenues- Corporate / All Other' of $14.75 million. The estimate points to a change of +0.3% from the year-ago quarter.

The combined assessment of analysts suggests that 'Net Revenues- Towable RV' will likely reach $288.78 million. The estimate indicates a year-over-year change of +0.2%.

Analysts' assessment points toward 'Unit deliveries - Marine - Boats' reaching 1,125 . The estimate compares to the year-ago value of 1,046 .

The average prediction of analysts places 'Unit deliveries - Total Towable RV' at 7,218 . The estimate is in contrast to the year-ago figure of 7,225 .

Based on the collective assessment of analysts, 'Unit deliveries - Total Motorhome RV' should arrive at 1,015 . Compared to the present estimate, the company reported 1,144 in the same quarter last year.

View all Key Company Metrics for Winnebago here>>>

Shares of Winnebago have experienced a change of -28% in the past month compared to the -3.6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), WGO is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Winnebago reported higher second-quarter revenue as price hikes helped to offset lower sales volume.

For the quarter ended February 2026, Winnebago Industries (WGO - Free Report) reported revenue of $657.4 million, up 6% over the same period last year. EPS came in at $0.27, compared to $0.19 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $625.03 million, representing a surprise of +5.18%. The company delivered an EPS surprise of +7.14%, with the consensus EPS estimate being $0.25.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Winnebago performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Unit deliveries - Marine - Boats: 992 compared to the 1,125 average estimate based on two analysts.Unit deliveries - Total Towable RV: 6,615 versus 7,218 estimated by two analysts on average.Unit deliveries - Total Motorhome RV: 1,518 compared to the 1,015 average estimate based on two analysts.Net Revenues- Motorhome RV: $304.7 million versus the four-analyst average estimate of $235.66 million. The reported number represents a year-over-year change of +29.3%.Net Revenues- Marine: $79.2 million versus $84.83 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.1% change.Net Revenues- Towable RV: $262.4 million versus the four-analyst average estimate of $288.78 million. The reported number represents a year-over-year change of -9%.View all Key Company Metrics for Winnebago here>>>

Shares of Winnebago have returned -20.2% over the past month versus the Zacks S&P 500 composite's -4.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Winnebago Industries, Inc. (WGO) Q2 2026 Earnings Call Transcript

Winnebago Industries is attractively valued after a 24% drop, with fundamentals and liquidity supporting a renewed buy rating. WGO's Q2 2026 revenue grew 6% YoY, driven by a strategic shift toward higher-demand Motorhome RVs and prudent pricing adjustments. Despite inflation and tariff headwinds, WGO's affluent customer base and strong balance sheet provide resilience and operational flexibility.

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Key Takeaways WGO reported Q2 EPS of 27 cents and revenues of $657M, both up year over year.Winnebago's Motorhome RV segment growth offset declines in Towable RV and Marine segments.WGO's acquisitions and dividend payouts highlight portfolio strength and shareholder returns. Winnebago Industries (WGO - Free Report) , a leading producer of recreational vehicles in the United States, sent a positive signal to investors with both earnings and revenues growing year over year. It reported adjusted earnings of 27 cents per share in the second quarter of fiscal 2026 (ended Feb. 28, 2026), up from 19 cents in the year-ago period. It reported revenues of $657 million, which rose 6% year over year.

Despite ongoing near-term weakness in the Towable RV and Marine segments, solid performance in the Motorhome RV segment, supported by a strong product portfolio, contributes to a more balanced outlook for the stock following the fiscal second-quarter earnings release.

Strategic Acquisition & Expansion of Grand Design RV Aid WGOWinnebago continues to strengthen its product portfolio. The company has introduced Access in the Winnebago Towables line, Transcend One in the Grand Design line.  It is also finding success with higher-priced offerings, including Newmar and Grand Design’s Super C models. The newly launched Sanza product line broadens the Barletta experience, making it accessible to customers seeking a more affordable entry into premium brands. Overall, the company aims to maintain a full lineup across its segments, appealing both to value-oriented buyers and to customers seeking more premium, top-tier options.

Winnebago's strategic acquisitions have strengthened its business portfolio. The Grand Design acquisition has solidified its towable RV offerings, while the Newmar purchase has enhanced the high-end motorized product lineup. Entering the marine segment through the Chris-Craft buyout has broadened Winnebago's market reach. The Barletta acquisition has further strengthened Winnebago's position in the marine market, augmenting its network, portfolio and revenues. Additionally, the acquisition of Lithionics Battery, a leading lithium-ion battery manufacturer, is driving innovation in diverse battery solutions, contributing to the advancement of Winnebago’s comprehensive electrical ecosystem.

In the second quarter of fiscal 2026, WGO’s revenue growth was attributable to the strong performance of the Motorhome RV segment, which more than compensated for declines in the Towable RV and Marine segments. The Motorhome RV segment’s growth was primarily driven by the continued expansion of Grand Design RV, along with solid contributions from the Winnebago and Newmar brands. The company expects the Motorhome RV segment to deliver both revenue growth and improved operating margins relative to fiscal 2025.

Winnebago’s commitment to return capital to shareholders is another positive. In fiscal 2025, the company returned a $88.9 million to investors via buybacks ($50 million) and dividends ($38.9 million). Winnebago has paid a quarterly dividend for 47 consecutive quarters so far. In August 2025, WGO hiked its quarterly dividend by 3% to 35 cents. The company has a five-year annualized dividend growth rate of 26.7%. These investor-friendly moves spark optimism.

Weakness in the Towable RV & Marine Segment to Ail WinnebagoIn the second quarter of fiscal 2026, Towable RV net revenues declined 9%, mainly due to a shift in product mix toward lower-priced models and reduced unit volumes. The company anticipates Towable RV revenues in fiscal 2026 to remain below fiscal 2025 levels. Meanwhile, the Marine segment net revenues fell 3%, largely attributable to lower unit volumes and an unfavorable product mix. Ongoing softness in retail demand is expected to keep full-year Marine revenues below those recorded in fiscal 2025. Softness across the Towable RV & Marine segments remains a concern.

Winnebago continues to face challenges from macroeconomic conditions affecting both retail consumers and dealers, including inflation, high interest rates and weakened consumer confidence. These factors have led to reduced consumer spending and a decline in short-term demand for large discretionary purchases such as RVs and marine products. In response, dealers have remained cautious in managing inventory levels.

WGO sources some key parts from a limited supplier base. In fiscal 2025, one supplier accounted for about 14% of raw material purchases. Major motorhome chassis suppliers include Mercedes-Benz, Stellantis, Freightliner, Ford and Spartan, while marine engine supply is heavily dependent on Mercury Marine. Any disruptions, production cuts, delays, or price increases from these suppliers could hinder production and negatively impact the company’s operations, financial condition and cash flows.

ConclusionWGO’s strong Motorhome RV segment continues to offset weakness in Towable RV and Marine businesses, supported by premium brands and successful product expansions. Strategic acquisitions like Grand Design and Newmar have strengthened its portfolio, while innovations such as Lithionics Battery enhance future growth potential.

Winnebago’s consistent shareholder returns, through dividends and buybacks, reflect financial discipline and investor commitment. Although macroeconomic pressures and segment softness persist, the company’s diversified offerings, improving margins in key segments, focus on operational efficiency and Zacks Rank #3 (Hold) position it well for recovery. Investors may consider retaining WGO stock due to its resilient performance and long-term strategic positioning despite near-term headwinds.

Stocks to ConsiderSome better-ranked stocks in the auto space are Renault SA (RNLSY - Free Report) , Magna International Inc. (MGA - Free Report) and Modine Manufacturing Company (MOD - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for RNLSY’s 2026 sales and earnings implies year-over-year growth of 12.1% and 169.5%, respectively. The EPS estimates for 2026 and 2027 have moved down 4 cents each in the past 30 days.

The Zacks Consensus Estimate for MGA’s 2026 sales and earnings implies year-over-year growth of 2.3% and 19%, respectively. The EPS estimate for 2026 and 2027 has improved 10 cents and 30 cents, respectively, in the past 30 days.

The Zacks Consensus Estimate for MOD’s fiscal 2026 sales and earnings implies year-over-year growth of 21.3% and 19%, respectively. The EPS estimate for fiscal 2026 and fiscal 2027 has improved 19 cents and 89 cents, respectively, in the past 60 days.

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On April 22, 2026, Winnebago Industries Inc (WGO) shares fell 3.1% to a current price of $32.59. The stock has seen a 52-week range of $28.00 to $50.16, reflect

EDEN PRAIRIE, Minn., May 01, 2026 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (NYSE: WGO), a leading manufacturer of premium outdoor recreation products, today announced the appointment of Emily Silver to its board of directors, effective May 1, 2026. Ms. Silver will serve as an independent director and as a member of the technology and human resources committees.

Ms. Silver is senior vice president, chief marketing, e-commerce and athlete experience officer of DICK’S Sporting Goods, where she leads the company’s overall marketing strategy and e-commerce business. In addition to leading marketing and digital transformation, she oversees cross-functional athlete experience initiatives and the DICK’S Media Network.

“Emily brings a powerful blend of strategic thinking and marketing leadership to the board,” said John Murabito, Winnebago Industries board chair. “Her perspectives on consumer insights, brand-led growth, and data-enabled decision making will meaningfully enhance the board’s capabilities as the company navigates dynamic times.”

Prior to joining DICK’S, Ms. Silver spent 16 years at PepsiCo where she held a variety of senior leadership roles with increasing responsibility and most recently served as senior vice president of portfolio marketing. Throughout her tenure, she developed a strong track record of driving brand strategy, innovation, analytics capabilities and commercial execution.

“Emily is a proven leader with deep expertise in digital marketing, brand building and customer engagement, all of which are critically important as we continue executing our long-term growth strategy,” said Michael Happe, president and chief executive officer of Winnebago Industries. “Her experience leading large-scale marketing and e-commerce transformations at iconic consumer brands will be invaluable as we strengthen our connection with customers and unlock new growth opportunities across our outdoor recreation portfolio.”

“I am honored to join the board of Winnebago Industries at such an exciting time in its evolution,” said Ms. Silver. “The company has a strong portfolio of premium brands and a clear strategic vision, and I look forward to contributing my experience to help more people enjoy the benefits of time outside.”

With the appointment of Ms. Silver, the Winnebago Industries Board of Directors will consist of ten members.

About Winnebago Industries
Winnebago Industries, Inc. is a leading North American manufacturer of outdoor recreation products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds high-quality motorhomes, travel trailers, fifth-wheel products, outboard and sterndrive powerboats, pontoons, and commercial community outreach vehicles. Committed to advancing sustainable innovation and leveraging vertical integration in key component areas, Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota, and Florida. The Company’s common stock is listed on the New York Stock Exchange and traded under the symbol WGO. For access to Winnebago Industries' investor relations material or to add your name to an automatic email list for Company news releases, visit http://investor.wgo.net.

Investors: Joan Ondala [email protected]
Media Contact: Daniel Sullivan [email protected]

EDEN PRAIRIE, Minn., May 15, 2026 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (NYSE: WGO), a leading manufacturer of outdoor recreation products, today announced that the company’s board of directors has approved a quarterly cash dividend of $0.35 per share, payable on June 24, 2026, to shareholders of record as of the close of business on June 10, 2026.

“Returning capital to shareholders remains a priority for Winnebago Industries,” said Bryan Hughes, chief financial officer for Winnebago Industries. “Our disciplined capital allocation strategy allows us to invest in our brands and enterprise capabilities while maintaining financial flexibility. This dividend, which marks our 48th consecutive quarterly payment, reflects confidence in the strength of the business and the durability of our cash flows.”

About Winnebago Industries

Winnebago Industries, Inc. is a leading North American manufacturer of outdoor recreation products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds high-quality motorhomes, travel trailers, fifth-wheel products, outboard and sterndrive powerboats, pontoons, and commercial community outreach vehicles. Committed to advancing sustainable innovation and leveraging vertical integration in key component areas, Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota, and Florida. The Company’s common stock is listed on the New York Stock Exchange and traded under the symbol WGO. For access to Winnebago Industries' investor relations material visit www.winnebagoind.com/investors.

Contacts

Investors: Joan Ondala [email protected]

Media: Daniel Sullivan [email protected]

EDEN PRAIRIE, Minn., June 04, 2026 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (NYSE: WGO), a leading manufacturer of outdoor recreation products, plans to issue its third quarter fiscal 2026 financial results before the opening of the New York Stock Exchange on Thursday, June 25, 2026. At 9:00 a.m. CT, the company will conduct a conference call hosted by Michael Happe, president and chief executive officer, and Bryan Hughes, senior vice president and chief financial officer.

You are invited to listen to the call via the “Investors” section of the company's website, https://www.winnebagoind.com/investors. The event will be archived and available for replay for up to one year. To access the replay, click on https://winnebagoind.com/event-calendar.

About Winnebago Industries
Winnebago Industries, Inc. is a leading North American manufacturer of outdoor recreation products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The company builds high-quality motorhomes, travel trailers, fifth-wheel products, outboard and sterndrive powerboats, pontoons, and commercial community outreach vehicles. Committed to advancing sustainable innovation and leveraging vertical integration in key component areas, Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota, and Florida. The company’s common stock is listed on the New York Stock Exchange and traded under the symbol WGO. For access to Winnebago Industries' investor relations material visit www.winnebagoind.com/investors.

Contacts
Investors: Joan Ondala [email protected]
Media: Daniel Sullivan [email protected]

MINNEAPOLIS--(BUSINESS WIRE)-- #DonaldsonCompany--Donaldson Company, Inc. (NYSE:DCI), a leading worldwide manufacturer of innovative filtration products and solutions, announced its calendar year 2025 Patent Recipients and Inventor Award winners. The annual recognition celebrates employees whose ideas, inventions, and technical leadership strengthen Donaldson's technology leadership and enduring culture of innovation. In 2025, 213 Donaldson employees were named on patents granted during the year, contributing to a.

Analysts on Wall Street project that Donaldson (DCI - Free Report) will announce quarterly earnings of $1.05 per share in its forthcoming report, representing an increase of 6.1% year over year. Revenues are projected to reach $979.07 million, increasing 4.1% from the same quarter last year.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

That said, let's delve into the average estimates of some Donaldson metrics that Wall Street analysts commonly model and monitor.

The consensus estimate for 'Net Sales- Industrial Solutions segment' stands at $290.35 million. The estimate suggests a change of +2.5% year over year.

It is projected by analysts that the 'Net Sales- Life Sciences segment' will reach $79.45 million. The estimate suggests a change of +7.1% year over year.

The collective assessment of analysts points to an estimated 'Net Sales- Mobile Solutions' of $613.24 million. The estimate suggests a change of +5.3% year over year.

Analysts predict that the 'Net Sales- Mobile Solutions- On-Road' will reach $31.21 million. The estimate indicates a change of +16% from the prior-year quarter.

Based on the collective assessment of analysts, 'Net Sales- Mobile Solutions- Off-Road' should arrive at $99.29 million. The estimate points to a change of +3.9% from the year-ago quarter.

The consensus among analysts is that 'Net Sales- Industrial Solutions- Aerospace and Defense' will reach $49.32 million. The estimate suggests a change of -4.2% year over year.

Analysts expect 'Net Sales- Industrial Solutions- Industrial Filtration Solutions' to come in at $241.37 million. The estimate suggests a change of +4.1% year over year.

According to the collective judgment of analysts, 'Net Sales- Mobile Solutions- Aftermarket' should come in at $482.40 million. The estimate suggests a change of +4.9% year over year.

The combined assessment of analysts suggests that 'Earnings / (loss) before income taxes- Mobile Solutions' will likely reach $113.36 million. Compared to the present estimate, the company reported $105.30 million in the same quarter last year.

The average prediction of analysts places 'Earnings / (loss) before income taxes- Life Sciences' at $6.46 million. The estimate compares to the year-ago value of $5.80 million.

Analysts' assessment points toward 'Earnings / (loss) before income taxes- Industrial Solutions' reaching $53.01 million. The estimate compares to the year-ago value of $51.20 million.

View all Key Company Metrics for Donaldson here>>>

Shares of Donaldson have demonstrated returns of -3.8% over the past month compared to the Zacks S&P 500 composite's +5% change. With a Zacks Rank #3 (Hold), DCI is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Donaldson Company, Inc. (NYSE: DCI) today announced that its Board of Directors declared a regular cash dividend of 32.0 cents per share, an increase of 6.7% f

MINNEAPOLIS--(BUSINESS WIRE)--Donaldson Company, Inc. (NYSE: DCI) (Donaldson or the Company), a global leader in technology-led filtration products and solutions, today reported third quarter fiscal 2026 generally accepted accounting principles (GAAP) net earnings of $118.1 million, compared with $57.8 million a year ago. Earnings per share (EPS)1 were $1.00 compared with third quarter fiscal 2025 EPS of $0.48. Third quarter fiscal 2026 results include $9.8 million of pre-tax, non-recurring net.

Donaldson (DCI - Free Report) reported $995.1 million in revenue for the quarter ended April 2026, representing a year-over-year increase of 5.9%. EPS of $1.06 for the same period compares to $0.99 a year ago.

The reported revenue represents a surprise of +1.64% over the Zacks Consensus Estimate of $979.07 million. With the consensus EPS estimate being $1.05, the EPS surprise was +0.57%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Donaldson performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net Sales- Industrial Solutions segment: $281.7 million versus the three-analyst average estimate of $290.35 million. The reported number represents a year-over-year change of -0.6%.Net Sales- Life Sciences segment: $83.5 million versus $79.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.Net Sales- Mobile Solutions segment: $629.9 million versus $613.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.Net Sales- Mobile Solutions- On-Road: $28.3 million versus $31.21 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.2% change.Net Sales- Mobile Solutions- Off-Road: $104 million versus the three-analyst average estimate of $99.29 million. The reported number represents a year-over-year change of +8.8%.Net Sales- Industrial Solutions- Aerospace and Defense: $44.6 million versus $49.32 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -13.4% change.Net Sales- Industrial Solutions- Industrial Filtration Solutions: $237.1 million versus the three-analyst average estimate of $241.37 million. The reported number represents a year-over-year change of +2.3%.Net Sales- Mobile Solutions- Aftermarket: $497.6 million compared to the $482.4 million average estimate based on three analysts. The reported number represents a change of +8.2% year over year.Earnings / (loss) before income taxes- Mobile Solutions: $127 million versus $113.36 million estimated by three analysts on average.Earnings / (loss) before income taxes- Corporate and unallocated: $-16.7 million compared to the $-8.79 million average estimate based on three analysts.Earnings / (loss) before income taxes- Life Sciences: $6.8 million versus the three-analyst average estimate of $6.46 million.Earnings / (loss) before income taxes- Industrial Solutions: $37.7 million versus the three-analyst average estimate of $53.01 million.View all Key Company Metrics for Donaldson here>>>

Shares of Donaldson have returned -4% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Donaldson Company, Inc. (DCI) Q3 2026 Earnings Call Transcript

Key Takeaways Donaldson increased its quarterly dividend 6.7% to 32 cents per share.DCI marked its 30th straight year of annual dividend increases and 70 years of payouts.DCI paid $69.3M in dividends and repurchased $108.6M of shares in fiscal H1 2026. In a shareholder-friendly move, Donaldson Company, Inc. (DCI - Free Report) has announced a hike in its dividend payout. The company increased its quarterly dividend 6.7% to 32 cents per share (annually: $1.28). The new dividend will be paid out on June 30, 2026, to shareholders of record as of June 15.

The move underscores DCI’s sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. This marks Donaldson’s 30th consecutive year of annual dividend increase. It has been paying dividends every quarter for the last 70 years. Prior to this, it had hiked its dividend 11.1% to 30 cents per share in May 2025.

Strong cash flows allow Donaldson to effectively deploy capital for making acquisitions, repurchasing shares and paying out dividends. Dividend payments totaled $69.3 million in the first six months of fiscal 2026 (ended January 2026) and $131.9 million in fiscal 2025 (ended July 2025). The company bought back shares worth $108.6 million in the first six months of fiscal 2026 and $333.6 million in fiscal 2025. We believe such disbursements highlight the company’s operational strength and commitment to enhancing shareholders’ wealth.

DCI’s Zacks Rank & Price PerformanceDonaldson is benefiting from higher volume in the aftermarket business, driven by positive market trends and the impact of expanded market share within the Mobile Solutions segment. Persistent strength in the filtration solutions business is aiding DCI’s Industrial Solutions segment. However, weakness in the on-road business remains a concern.

Image Source: Zacks Investment Research

In the past year, this Zacks Rank #3 (Hold) company’s shares have gained 18% compared with the industry’s 29.4% growth.

The Zacks Consensus Estimate for DCI’s fiscal 2027 (ending July 2026) earnings has been stable at $3.97 per share over the past 60 days.

Stocks to ConsiderSome better-ranked companies are discussed below:

CECO Environmental (CECO - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

CECO delivered a trailing four-quarter average earnings surprise of 46.5%. In the past 60 days, the Zacks Consensus Estimate for CECO Environmental’s 2026 earnings has increased 17.2%.

Helios Technologies (HLIO - Free Report) presently sports a Zacks Rank of 1. Helios has a trailing four-quarter average earnings surprise of 15.7%.

The Zacks Consensus Estimate for HLIO’s 2026 earnings has increased 4% in the past 60 days.

RBC Bearings (RBC - Free Report) presently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter average earnings surprise of 6.2%.

In the past 60 days, the consensus estimate for RBC’ fiscal 2027 (ending March 2027) earnings has increased 0.5%.

Some stocks are hot. Others are scorching. Having more than tripled over the past year and now flirting with a quadruple over that period, semiconductor maker Marvell Technology (MRVL) is certainly in the scorching camp.

It’s obviously benefiting the Direxion Daily MRVL Bull 2X ETF (MRVU), an ETF designed to deliver 200% of the daily performance of the chip stock. MRVU displayed its benefits to short-term traders earlier this week when Marvell surged 32% in a single trading day after Nvidia (NVDA) CEO Jensen Huang overtly complimented the fabless semiconductor company – heady praise to be sure.

See more: It’s Nvidia’s World: How Advisors See the Next Phase of AI

Perhaps take it with a grain of salt because Nvidia is invested in Marvell, but Huang came right out and said that Marvell could become a $1 trillion company. Such a statement implies an opportunity to occasionally capitalize    with the leveraged MRVU. To get to a market value of $1 trillion, Marvell would need to more than triple from its June 2 market cap.

Potentially adding to the allure of Marvell for committed investors and supporting the case for occasional deployment of MRVU is the point that, believe it or not, some market observers don’t view the stock as overvalued.

“It is still a 4-star-rated stock that trades at a 13% discount. Technically, as a 4-star-rated stock, we do think that it is attractive compared to its long-term intrinsic valuation on a risk-adjusted basis,” noted Morningstar’s Dave Sekera.

More to Come for MRVU? Marvell’s positioning in the data center interconnect (DCI) module space indicates that the chipmaker is a leader in addressing a key artificial intelligence (AI) bottleneck. That is music to bulls’ ears, as well as to traders seeking amplified short-term gains with MRVU. Consider what Chairman and CEO Matt Murphy had to say about DCI modules on Marvell’s latest earnings conference call.

“The increase in our revenue outlook continues to be driven by our data center business, which we now expect to grow approximately 50% this fiscal year. Notably, we expect our interconnect business to grow more than 70% [YoY], well above our prior expectation of 50% growth,” he said.

Another potential catalyst for the chip stock and thus MRVU, is the stock’s potential inclusion in the S&P 500, which is expected to rebalance on June 19. Still, traders should be careful with MRVU heading into that event.

“However, there’s no guarantee Marvell will be added immediately. The selection committee at S&P Dow Jones Indices has discretion when determining which eligible companies to add to the index and sometimes chooses not to make changes at the scheduled time,” noted Barron’s.

For more news, information, and strategy, visit the Leveraged & Inverse Content Hub.

Donaldson Company, Inc. (DCI) Presents at 46th Annual William Blair Growth Stock Conference Transcript

Windsor Advisory Group disclosed a buy of 78,197 shares of Worthington Enterprises (WOR +0.85%) in its February 17, 2026, SEC filing, with an estimated transaction value of $4.32 million based on quarterly average pricing.

What happenedAccording to a February 17, 2026, SEC filing, Windsor Advisory Group, LLC increased its holding in Worthington Enterprises by 78,197 shares during the fourth quarter. The estimated value of this share purchase is approximately $4.32 million, based on the mean unadjusted closing price for the period. The quarter-end value of the position rose by $2.88 million, reflecting both the increased share count and price appreciation.

What else to knowThis was a buy; Worthington Enterprises represented 17.13% of Windsor Advisory Group's 13F reportable AUM after the trade.Top holdings after the filing:NASDAQ:PAYX: $23.76 million (21.2% of AUM)NYSE:WOR: $19.20 million (17.1% of AUM)NYSE:WS: $7.19 million (6.4% of AUM)NYSEMKT:IVV: $6.68 million (6.0% of AUM)NASDAQ:NVDA: $6.33 million (5.7% of AUM)As of Friday, shares of Worthington Enterprises were priced at $47.64, up 15% over the past year, which roughly matches the S&P 500’s gain in the same period.Company overviewMetricValueRevenue (TTM)$1.25 billionNet Income (TTM)$106 millionDividend Yield1.6%Price (as of Friday)$47.64Company snapshotWorthington Enterprises offers value-added steel processing, manufactured consumer products, building products, and sustainable energy solutions, with key brands including Coleman, Bernzomatic, and Level5.The firm generates revenue primarily through steel processing and the sale of branded consumer and industrial products across diversified end markets.It serves automotive, construction, appliance, energy, and retail customers in North America and internationally.Worthington Enterprises is a leading industrial manufacturer specializing in steel processing and value-added metal fabrication, supported by a broad portfolio of consumer and building products. The company's diversified operating segments and established brands position it to serve a wide range of industrial and retail markets.

What this transaction means for investorsHigh-conviction investments in steady industrial companies might not grab headlines, but they reveal where managers see reliable cash flows hiding in plain sight. This particular allocation stands out not just for its size, but for the confidence it reflects. Putting over 17% of a portfolio into one company signals trust in both the business itself and its stabilizing role amid more volatile holdings.

Worthington strikes a balance. It's not about explosive growth, but it’s definitely not stagnant either. The company pulled in around $1.3 billion in sales and approximately $284 million in adjusted EBITDA in the year ended November 30, with improving margins as it shifts towards higher-value building products, and the recent acquisition of LSI underscores this change. It focuses on niche, engineered building components that come with consistent demand and high switching costs in a market expected to grow steadily by 3% to 5% each year.

When compared to holdings like Paychex or Nvidia, this stake brings a different flavor with its industrial focus and more predictable cash flow.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

Worthington Enterprises, Inc. (NYSE:WOR) will release earnings for its third quarter after the closing bell on Tuesday, March 24.

Analysts expect the company to report quarterly earnings of 96 cents per share, up from 91 cents per share in the year-ago period. The consensus estimate for Worthington’s quarterly revenue is $349.41 million (it reported $304.52 million last year), according to Benzinga Pro.

On Dec. 16, Worthington reported mixed second-quarter financial results and announced it will acquire LSI Group.

KB Home shares gained 4% to close at $53.19 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company </em></a> in the recent period.

Considering buying WOR stock? Here’s what analysts think:

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COLUMBUS, Ohio, March 24, 2026 (GLOBE NEWSWIRE) -- Worthington Enterprises Inc. (NYSE: WOR), a designer and manufacturer of market-leading building and consumer products that improve everyday life by elevating spaces and experiences, today reported results for its fiscal 2026 third quarter ended February 28, 2026.

Recent Developments and Third Quarter Highlights (all comparisons to the third quarter of fiscal 2025):

Net sales were $378.7 million, an increase of 24%.Net earnings increased 15% to $45.1 million, while adjusted net earnings increased 7% to $48.5 million and adjusted EBITDA grew 15% to $84.6 million.Earnings per share on a fully-diluted basis (“EPS – diluted”) improved to $0.92 from $0.79 per share, while adjusted EPS – diluted increased to $0.98 from $0.91 per share.Operating cash flow increased 8% to $61.9 million, while free cash flow improved 8% to $48.1 million.Repurchased 100,000 common shares for $5.4 million, leaving 4,915,000 common shares available for repurchase under the company’s existing authorization.Declared a quarterly dividend of $0.19 per common share payable on June 29, 2026, to shareholders of record at the close of business on June 15, 2026.Acquired LSI Group (“LSI”), a market-leading manufacturer of standing seam metal roof clips and retrofit components in the commercial metal roof market on January 16, 2026, for approximately $205.0 million, subject to closing adjustments. “We delivered another quarter of strong, resilient performance, achieving year-over-year growth in adjusted EPS and EBITDA for the sixth consecutive quarter,” said Worthington Enterprises President and CEO Joe Hayek. “Our teams delivered solid organic growth across both segments, driving meaningfully higher sales and earnings. We were happy to welcome the LSI team to Worthington when the acquisition closed in January, and we are excited about the contributions they are already making to our Building Products segment.”

Financial highlights for the current year and prior year quarters are as follows:

(U.S. dollars in millions, except per share amounts)3Q 2026  3Q 2025 GAAP Financial Measures     Net sales$378.7  $304.5 Operating income 31.5   20.9 Earnings before income taxes 60.1   52.6 Net earnings 45.1   39.3 EPS – diluted 0.92   0.79 Net cash provided by operating activities 61.9   57.1       Non-GAAP Financial Measures(1)     Adjusted operating income$35.2  $26.2 Adjusted EBITDA 84.6   73.8 Adjusted net earnings 48.5   45.3 Adjusted EPS – diluted 0.98   0.91 Free cash flow 48.1   44.4          (1) Refer to the “GAAP / Non-GAAP Reconciliations” and the “Use of Non-GAAP Financial Measures and Definitions” sections of this release for additional information regarding the use of non-GAAP financial measures and reconciliations to the most directly comparable financial measures calculated and presented in accordance with GAAP.

Consolidated Quarterly Results

Net sales for the third quarter of fiscal 2026 increased $74.2 million, or 24.4%, over the prior year quarter to $378.7 million, driven by higher overall volumes and the impact of acquisitions, which contributed $32.2 million to net sales in the current year quarter. Excluding the impact of acquisitions, net sales increased $42.0 million, or 13.8% compared to the prior year quarter.

Operating income increased $10.7 million to $31.5 million, reflecting higher net sales and improved fixed cost absorption in the company’s wholly owned businesses. On an adjusted basis, operating income increased $9.0 million in the third quarter of fiscal 2026 to $35.2 million compared to the prior year quarter, primarily due to higher volumes and contributions from recent acquisitions.

Equity in net income of unconsolidated affiliates decreased $1.4 million from the prior year quarter to $30.7 million, on lower contributions from ClarkDietrich, which were down $3.8 million, partially offset by higher contributions from WAVE, which were up $2.1 million.

Income tax expense was $15.0 million in the third quarter of fiscal 2026, compared to $13.2 million in the prior year quarter. The increase was driven by higher pre-tax earnings. Income tax expense in the third quarter of fiscal 2026 reflects an estimated annual effective tax rate of 24.3%, compared to 24.4% in the prior year quarter.

Balance Sheet and Cash Flow

Total debt at quarter end was $312.0 million, an increase of $9.2 million compared to May 31, 2025, due to an increase in short-term borrowings to fund acquisitions and the remeasurement of the company’s euro-denominated notes. The company had $4.8 million outstanding under its revolving credit facility as of February 28, 2026, leaving $495.2 million available for future use and providing substantial liquidity.

The company ended the quarter with cash and cash equivalents of $6.0 million, a decrease of $244.1 million from May 31, 2025, primarily driven by the acquisitions of Elgen Manufacturing (“Elgen”) and LSI. During the third quarter of fiscal 2026, the company generated operating cash flow of $61.9 million, of which $13.8 million was invested in capital expenditures, resulting in free cash flow of $48.1 million, up from $44.4 million in the prior year quarter. Capital expenditures in the current year quarter included approximately $4.1 million related to ongoing facility modernization projects.

Quarterly Segment Results

Building Products generated net sales of $223.9 million in the current year quarter, an increase of $59.0 million, or 35.8%, over the prior year quarter. The increase was driven by higher overall volumes and the impact of acquisitions, which contributed $32.2 million to net sales in the current year quarter. Excluding the impact of acquisitions, net sales in Building Products increased $26.8 million, or 16.3% compared to the prior year quarter. Adjusted EBITDA increased $5.6 million from the prior year quarter to $58.8 million, driven by the impact of higher net sales, partially offset by lower overall contributions of equity in net income of unconsolidated affiliates, primarily related to ClarkDietrich.

Consumer Products generated net sales of $154.8 million in the current year quarter, an increase of $15.1 million, or 10.8%, over the prior year quarter, driven by higher volumes and higher average selling prices. Adjusted EBITDA in Consumer Products increased $6.8 million from the prior year quarter to $35.5 million, driven by the impact of higher net sales.

Outlook

“As we approach the end of our fiscal year and look ahead to fiscal 2027, we believe we are very well positioned,” Hayek said. “The continued efforts of our teams to bring innovative solutions to our customers support our organic growth. Consistent free cash flow generation and a strong balance sheet provide the flexibility to pursue additional growth opportunities aligned with our strategy. We will continue to prioritize disciplined capital deployment and remain focused on delivering sustainable growth and long-term shareholder value.”

Conference Call

The company will review fiscal 2026 third quarter results during its quarterly conference call on March 25, 2026, at 8:30 a.m. Eastern Time. Details regarding the conference call can be found on the company website at www.WorthingtonEnterprises.com.

About Worthington Enterprises

Worthington Enterprises (NYSE: WOR) is a designer and manufacturer of market-leading brands that improve everyday life by elevating spaces and experiences. The company operates with two primary business segments: Building Products and Consumer Products. The Building Products segment includes heating and cooling, cooking, construction and water solutions, and building systems including HVAC and metal roofing components, architectural and acoustical grid ceilings, and metal framing and accessories. The Consumer Products segment provides solutions for the tools, outdoor living and celebrations categories. Product brands within the Worthington Enterprises portfolio include Balloon Time®, Bernzomatic®, BPD, Coleman® (propane cylinders), CoMet®, Elgen, Garden Weasel®, General®, HALO™, Hawkeye™, LEVEL5 Tools®, Logan Stampings, Mag Torch®, NEXI™, Pactool International®, PowerCore™, Ragasco®, Roof Hugger®, Well-X-Trol® and XLite™, among others.

Headquartered in Columbus, Ohio, Worthington Enterprises and its joint ventures employ approximately 6,000 people throughout North America and Europe.

Founded in 1955 as Worthington Industries, Worthington Enterprises follows a people-first Philosophy with earning money for its shareholders as its first corporate goal. Worthington Enterprises achieves this outcome by empowering its employees to innovate, thrive and grow with leading brands in attractive markets that improve everyday life. The company engages deeply with local communities where it has operations through volunteer efforts and The Worthington Companies Foundation, participates actively in workforce development programs and reports annually on its corporate citizenship and sustainability efforts. For more information, visit worthingtonenterprises.com.

Safe Harbor Statement

Selected statements contained in this release constitute “forward-looking statements,” as that term is used in the Private Securities Litigation Reform Act of 1995 (the “Act”). The company wishes to take advantage of the safe harbor provisions included in the Act. Forward-looking statements reflect the company’s current expectations, estimates or projections concerning future results or events. These statements are often identified by the use of forward-looking words or phrases such as “believe,” “expect,” “anticipate,” “may,” “could,” “should,” “would,” “intend,” “plan,” “will,” “likely,” “estimate,” “project,” “position,” “strategy,” “target,” “aim,” “seek,” “foresee” and similar words or phrases. These forward-looking statements include, without limitation, statements relating to: future or expected cash positions, liquidity and ability to access financial markets and capital; outlook, strategy or business plans; future or expected growth, growth potential, forward momentum, performance, competitive position, sales, volumes, cash flows, earnings, margins, balance sheet strengths, debt, financial condition or other financial measures; pricing trends for raw materials and finished goods and the impact of pricing changes; the ability to improve or maintain margins; expected demand or demand trends for the company or its markets; additions to product lines and opportunities to participate in new markets; expected benefits from transformation and innovation efforts; the ability to improve performance and competitive position at the company’s operations; anticipated working capital needs, capital expenditures and asset sales; anticipated improvements and efficiencies in costs, operations, sales, inventory management, sourcing and the supply chain and the results thereof; projected profitability potential; the ability to make acquisitions and the projected timing, results, benefits, costs, charges and expenditures related to acquisitions, joint ventures, headcount reductions and facility dispositions, shutdowns and consolidations; projected capacity and the alignment of operations with demand; the ability to operate profitably and generate cash in down markets; the ability to capture and maintain market share and to develop or take advantage of future opportunities, customer initiatives, new businesses, new products and new markets; expectations for company and customer inventories, jobs and orders; expectations for the economy and markets or improvements therein; expectations for generating improving and sustainable earnings, earnings potential, margins or shareholder value; effects of judicial rulings; effects of pandemics and widespread health crises and the various responses of governmental and nongovernmental authorities thereto on economies and markets, and on the company’s customers, counterparties, employees and third-party service providers; and other non-historical matters.

Because they are based on beliefs, estimates and assumptions, forward-looking statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected. Any number of factors could affect actual results, including, without limitation, those that follow: the effect of conditions in national and worldwide financial markets, including inflation, increases in interest rates and economic recession, and with respect to the ability of financial institutions to provide capital; the impact of tariffs, the adoption of trade restrictions affecting the company’s products or suppliers, a United States withdrawal from or significant renegotiation of trade agreements, the occurrence of trade wars, the closing of border crossings, and other changes in trade regulations or relationships; changing oil prices and/or supply; product demand and pricing; changes in product mix, product substitution and market acceptance of the company’s products; volatility or fluctuations in the pricing, quality or availability of raw materials (particularly steel), supplies, transportation, utilities, labor and other items required by operations; effects of sourcing and supply chain constraints; the outcome of adverse claims experience with respect to workers’ compensation, product recalls or product liability, casualty events or other matters; effects of facility closures and the consolidation of operations; the effect of financial difficulties, consolidation and other changes within the steel, automotive, construction and other industries in which the company participates; failure to maintain appropriate levels of inventories; financial difficulties (including bankruptcy filings) of original equipment manufacturers, end-users and customers, suppliers, joint venture partners and others with whom the company does business; the ability to realize targeted expense reductions from headcount reductions, facility closures and other cost reduction efforts; the ability to realize cost savings and operational, sales and sourcing improvements and efficiencies, and other expected benefits from transformation initiatives, on a timely basis; the overall success of, and the ability to integrate, newly-acquired businesses and joint ventures, maintain and develop their customers, and achieve synergies and other expected benefits and cost savings therefrom; capacity levels and efficiencies, within facilities, within major product markets and within the industries in which the company participates as a whole; the effect of disruption in the business of suppliers, customers, facilities and shipping operations due to adverse weather, casualty events, equipment breakdowns, labor shortages, interruption in utility services, civil unrest, international conflicts, terrorist activities or other causes; changes in customer demand, inventories, spending patterns, product choices, and supplier choices; risks associated with doing business internationally, including economic, political and social instability, foreign currency exchange rate exposure and the acceptance of the company’s products in global markets; the ability to improve and maintain processes and business practices to keep pace with the economic, competitive and technological environment; the effect of inflation, interest rate increases and economic recession, which may negatively impact the company’s operations and financial results; deviation of actual results from estimates and/or assumptions used by the company in the application of its significant accounting policies; the level of imports and import prices in the company’s markets; the impact of environmental laws and regulations or the actions of the United States Environmental Protection Agency or similar regulators which increase costs or limit the company’s ability to use or sell certain products; the impact of increasing environmental, greenhouse gas emission and sustainability regulations and considerations; the impact of judicial rulings and governmental regulations, both in the United States and abroad, including those adopted by the United States Securities and Exchange Commission and other governmental agencies as contemplated by the Coronavirus Aid, Relief and Economic Security (CARES) Act, the Consolidated Appropriations Act, 2021, the American Rescue Plan Act of 2021, and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010; the effect of healthcare laws in the United States and potential changes for such laws, which may increase the company’s healthcare and other costs and negatively impact the company’s operations and financial results; the effects of tax laws in the United States and potential changes for such laws, which may increase the company’s costs and negatively impact the company’s operations and financial results; cyber security risks; the effects of privacy and information security laws and standards; and other risks described from time to time in the company’s filings with the United States Securities and Exchange Commission, including those described in “Part I – Item 1A. – Risk Factors” of the company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2025.

Forward-looking statements should be construed in the light of such risks. The company notes these factors for investors as contemplated by the Act. It is impossible to predict or identify all potential risk factors. Consequently, readers should not consider the foregoing list to be a complete set of all potential risks and uncertainties. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. The company does not undertake, and hereby disclaims, any obligation to update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

 WORTHINGTON ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per common share amounts)         Three Months Ended  Nine Months Ended   February 28,  February 28,   2026  2025  2026  2025 Net sales $378,677  $304,524  $1,009,836  $835,878 Cost of goods sold  269,203   215,277   733,449   610,077 Gross profit  109,474   89,247   276,387   225,801 Selling, general and administrative expense  75,745   63,005   217,031   196,959 Restructuring and other expense, net  2,186   5,374   6,306   9,152 Operating income  31,543   20,868   53,050   19,690 Other income (expense):            Miscellaneous income (expense), net  (316)  258   (4,602)  809 Interest expense, net  (1,828)  (628)  (3,363)  (2,150)Equity in net income of unconsolidated affiliates  30,715   32,081   96,490   102,129 Earnings before income taxes  60,114   52,579   141,575   120,478 Income tax expense  14,994   13,240   34,605   29,122 Net earnings  45,120   39,339   106,970   91,356 Net loss attributable to noncontrolling interest  (343)  (324)  (969)  (820)Net earnings attributable to controlling interest $45,463  $39,663  $107,939  $92,176              Basic            Weighted average common shares outstanding  49,073   49,377   49,167   49,443 Earnings per share attributable to controlling interest $0.93  $0.80  $2.20  $1.86              Diluted            Weighted average common shares outstanding  49,665   49,981   49,822   50,171 Earnings per share attributable to controlling interest $0.92  $0.79  $2.17  $1.84              Cash dividends declared per common share $0.19  $0.17  $0.57  $0.51                    CONSOLIDATED BALANCE SHEETS
WORTHINGTON ENTERPRISES, INC.
(In thousands)         February 28,  May 31,   2026  2025 Assets      Current assets:      Cash and cash equivalents $5,979  $250,075 Receivables, less allowances of $1,062 and $907, respectively  231,878   215,824 Inventories      Raw materials  104,684   80,522 Work in process  8,087   9,408 Finished products  84,817   79,463 Total inventories  197,588   169,393 Income taxes receivable  25,374   12,720 Prepaid expenses and other current assets  43,044   37,358 Total current assets  503,863   685,370 Investments in unconsolidated affiliates  118,678   129,262 Operating lease assets  44,703   22,699 Goodwill  499,492   376,480 Other intangible assets, net of accumulated amortization of $101,791 and $88,887, respectively  327,353   190,398 Other assets  24,900   20,717 Property, plant and equipment:      Land  8,746   8,703 Buildings and improvements  136,279   132,742 Machinery and equipment  409,609   372,798 Construction in progress  57,206   33,326 Total property, plant and equipment  611,840   547,569 Less: accumulated depreciation  307,291   277,343 Total property, plant and equipment, net  304,549   270,226 Total assets $1,823,538  $1,695,152        Liabilities and equity      Current liabilities:      Accounts payable $107,386  $103,205 Short-term borrowings  4,792   - Accrued compensation, contributions to employee benefit plans and related taxes  43,062   43,864 Dividends payable  9,833   9,172 Other accrued items  39,659   34,478 Current operating lease liabilities  7,950   6,014 Income taxes payable  554   109 Total current liabilities  213,236   196,842 Other liabilities  58,462   53,364 Distributions in excess of investment in unconsolidated affiliate  109,592   103,767 Long-term debt  307,256   302,868 Noncurrent operating lease liabilities  37,681   17,173 Deferred income taxes, net  94,751   82,901 Total liabilities  820,978   756,915 Shareholders' equity - controlling interest  1,002,479   937,187 Noncontrolling interest  81   1,050 Total equity  1,002,560   938,237 Total liabilities and equity $1,823,538  $1,695,152            WORTHINGTON ENTERPRISES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)         Three Months Ended  Nine Months Ended   February 28,  February 28,   2026  2025  2026  2025 Operating activities:            Net earnings $45,120  $39,339  $106,970  $91,356 Adjustments to reconcile net earnings to net cash provided by operating activities:            Depreciation and amortization  14,552   11,950   41,402   35,707 Provision for (benefit from) deferred income taxes  4,294   (8,016)  7,812   (10,871)Bad debt (income) expense  (97)  1,128   112   3,189 Equity in net income of unconsolidated affiliates, net of distributions  4,064   3,089   8,991   10,810 Net (gain) loss on sale of assets  (17)  (21)  2,995   (547)Stock-based compensation  3,752   2,924   10,504   12,787 Unrealized loss on investment in marketable securities  340   -   1,584   - Changes in assets and liabilities, net of impact of acquisitions:            Receivables  (16,973)  (18,553)  3,870   (9,023)Inventories  10,998   14,128   (1,699)  15,558 Accounts payable  6,612   46   (3,365)  (12,600)Accrued compensation and employee benefits  13,658   8,838   (820)  (4,628)Other operating items, net  (24,365)  2,279   (23,838)  15,592 Net cash provided by operating activities  61,938   57,131   154,518   147,330              Investing activities:            Investment in property, plant and equipment  (13,794)  (12,704)  (39,421)  (37,494)Acquisitions, net of cash acquired  (212,191)  -   (304,426)  (88,156)Proceeds from sale of assets, net of selling costs  18   59   18   13,444 Investment in non-marketable equity securities, net of distributions  (58)  (833)  (113)  (2,873)Net cash used by investing activities  (226,025)  (13,478)  (343,942)  (115,079)             Financing activities:            Dividends paid  (9,341)  (8,422)  (27,540)  (25,507)Repurchase of common shares  (5,374)  (6,170)  (25,328)  (21,052)Net proceeds from short-term borrowings  4,792   -   4,792   - Principal payments on long-term obligations  (284)  -   (760)  - Proceeds from issuance of common shares, net of tax withholdings  (15)  (22)  (5,836)  (7,073)Net cash used by financing activities  (10,222)  (14,614)  (54,672)  (53,632)(Decrease) increase in cash and cash equivalents  (174,309)  29,039   (244,096)  (21,381)Cash and cash equivalents at beginning of period  180,288   193,805   250,075   244,225 Cash and cash equivalents at end of period $5,979  $222,844  $5,979  $222,844                    WORTHINGTON ENTERPRISES, INC.
SEGMENT INFORMATION
(Dollars in thousands)
         Three Months Ended  Nine Months Ended   February 28,  February 28,   2026  2025  2026  2025 Net sales            Building Products $223,850  $164,810  $616,147  $461,821 Consumer Products  154,827   139,714   393,689   374,057 Consolidated $378,677  $304,524  $1,009,836  $835,878              Adjusted EBITDA            Building Products $58,825  $53,187  $171,766  $141,578 Consumer Products  35,452   28,625   66,887   61,884 Total reportable segments  94,277   81,812   238,653   203,462 Other(1)  (2,107)  (2,417)  (5,080)  (3,309)Unallocated Corporate  (7,555)  (5,616)  (21,269)  (20,247)Consolidated $84,615  $73,779  $212,304  $179,906              Adjusted EBITDA margin            Building Products  26.3%  32.3%  27.9%  30.7%Consumer Products  22.9%  20.5%  17.0%  16.5%Consolidated  22.3%  24.2%  21.0%  21.5%             Equity income by unconsolidated affiliate            WAVE(2) $27,096  $25,012  $85,778  $77,478 ClarkDietrich(2)  5,726   9,486   15,792   27,960 Other(1)  (2,107)  (2,417)  (5,080)  (3,309)Consolidated $30,715  $32,081  $96,490  $102,129  _________________________
(1)   Other includes the equity earnings of Taxi Workhorse, LLC and the SES joint venture.
(2)   Equity income contributed by WAVE and ClarkDietrich is included in Building Products segment results.

 WORTHINGTON ENTERPRISES, INC.
GAAP / NON-GAAP RECONCILIATIONS
(Dollars in thousands, except per share amounts)  For more information regarding the non-GAAP financial measures, including details of the definition update made in the third quarter of fiscal 2026, refer to the “Use of Non-GAAP Financial Measures and Definitions” section of this release.

Consolidated Results – Adjusted Earnings per Share – Diluted

 Three Months Ended February 28, 2026     Earnings              Before  Income        Operating  Income  Tax  Net  Diluted  Income  Taxes  Expense  Earnings(1)  EPS(1) GAAP$31,543  $60,114  $14,994  $45,463  $0.92 Amortization of inventory step-up(2) 1,500   1,500   (367)  1,133   0.02 Restructuring and other expense, net 2,186   2,186   (512)  1,674   0.03 Unrealized loss on investment in marketable securities(4) -   340   (84)  256   0.01 Non-GAAP$35,229  $64,140  $15,957  $48,526  $0.98   Three Months Ended February 28, 2025     Earnings              Before  Income        Operating  Income  Tax  Net  Diluted  Income  Taxes  Expense  Earnings(1)  EPS(1) GAAP$20,868  $52,579  $13,240  $39,663  $0.79 Restructuring and other expense, net 5,374   5,374   295   5,669   0.12 Non-GAAP$26,242  $57,953  $12,945  $45,332  $0.91   Nine Months Ended February 28, 2026     Earnings              Before  Income        Operating  Income  Tax  Net  Diluted  Income  Taxes  Expense  Earnings(1)  EPS(1) GAAP$53,050  $141,575  $34,605  $107,939  $2.17 Amortization of inventory step-up(2) 3,651   3,651   (888)  2,763   0.06 Restructuring and other expense, net 6,306   6,306   (1,292)  5,014   0.11 Loss on partial sale of investment in SES(3) -   2,950   -   2,950   0.06 Unrealized loss on investment in marketable securities(4) -   1,584   (385)  1,199   0.01 Non-GAAP$63,007  $156,066  $37,170  $119,865  $2.41   Nine Months Ended February 28, 2025     Earnings              Before  Income        Operating  Income  Tax  Net  Diluted  Income  Taxes  Expense  Earnings(1)  EPS(1) GAAP$19,690  $120,478  $29,122  $92,176  $1.84 Amortization of inventory step-up 1,477   1,477   (369)  1,108   0.02 Restructuring and other expense, net 9,152   9,152   (632)  8,520   0.17 Non-GAAP$30,319  $131,107  $30,123  $101,804  $2.03                      Consolidated Results – Adjusted EBITDA

  Three Months Ended  Nine Months Ended   February 28,  February 28,   2026  2025  2026  2025 Net earnings (GAAP) $45,120  $39,339  $106,970  $91,356 Plus: Net loss attributable to noncontrolling interest  343   324   969   820 Net earnings attributable to controlling interest  45,463   39,663   107,939   92,176 Interest expense, net  1,828   628   3,363   2,150 Income tax expense  14,994   13,240   34,605   29,122 EBIT(5)  62,285   53,531   145,907   123,448 Amortization of inventory step-up(2)  1,500   -   3,651   1,477 Restructuring and other expense, net  2,186   5,374   6,306   9,152 Loss on partial sale of investment in SES(3)  -   -   2,950   - Unrealized loss on investment in marketable securities(4)  340   -   1,584   - Adjusted EBIT(5)  66,311   58,905   160,398   134,077 Depreciation and amortization  14,552   11,950   41,402   35,707 Stock-based compensation(6)  3,752   2,924   10,504   10,122 Adjusted EBITDA (non-GAAP) $84,615  $73,779  $212,304  $179,906              Net earnings margin (GAAP)  11.9%  12.9%  10.6%  10.9%Adjusted EBITDA margin (non-GAAP)  22.3%  24.2%  21.0%  21.5% _________________________
(1)   Excludes the impact of noncontrolling interest.
(2)   Reflects the amortization of the step-up to fair market value of acquired inventory related to the LSI and Elgen acquisitions in fiscal 2026 and the Ragasco acquisition in fiscal 2025. The company updated the definition of its non-GAAP financial measures to exclude inventory step-up charges in the third quarter of fiscal 2026. All previously reported amounts have been recast to conform to this change. Additional information is available in the “Use of Non-GAAP Financial Measures and Definitions” section at the end of the release.
(3)   Reflects the loss incurred in connection with divestment of the company’s 49% interest in the composite assets of its SES joint venture on October 14, 2025. In exchange for the company’s interest in the divested assets, it received common shares in both Hexagon Composites and Hexagon Purus.
(4)   Reflects the unrealized loss associated with the marketable securities noted in footnote (3) above.
(5)   EBIT and adjusted EBIT are non-GAAP financial measures. However, these measures are not used by management to evaluate the company's performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of net earnings to adjusted EBITDA, which is a non-GAAP financial measure used by management.
(6)   Excludes $2.7 million of stock-based compensation reported in restructuring and other expense, net in the company’s consolidated statement of earnings for the nine months ended February 28, 2025 related to the accelerated vesting of certain outstanding equity awards upon retirement of a key employee.

Consolidated Results - Free Cash Flow

The following tables provide a reconciliation of net cash provided by operating activities to free cash flow and the calculation of operating cash flow conversion to free cash flow conversion for the three and nine months ended February 28, 2026 and 2025.

  Three Months Ended  Nine Months Ended   February 28,  February 28,   2026  2025  2026  2025 Net cash provided by operating activities (GAAP) $61,938  $57,131  $154,518  $147,330 Investment in property, plant, and equipment  (13,794)  (12,704)  (39,421)  (37,494)Free cash flow (non-GAAP) $48,144  $44,427  $115,097  $109,836              Net earnings attributable to controlling interest (GAAP) $45,463  $39,663  $107,939  $92,176 Adjusted net earnings attributable to controlling interest (non-GAAP) $48,526  $45,332  $119,865  $101,804              Operating cash flow conversion (GAAP)(1)  136%  144%  143%  160%Free cash flow conversion (non-GAAP)  99%  98%  96%  108% _________________________
(1)   Operating cash flow conversion is defined as net cash provided by operating activities divided by net earnings attributable to controlling interest.

 WORTHINGTON ENTERPRISES, INC.
USE OF NON-GAAP FINANCIAL MEASURES AND DEFINITIONS  NON-GAAP FINANCIAL MEASURES. These materials include certain financial measures that are not calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Non-GAAP financial measures typically exclude items that management believes are not reflective of, and thus should not be included when evaluating the performance of the company’s ongoing operations. Management uses these non-GAAP financial measures to evaluate ongoing performance, engage in financial and operational planning, and determine incentive compensation. Management believes these non-GAAP financial measures provide useful supplemental information regarding the performance of the company’s ongoing operations and should not be considered as an alternative to the comparable GAAP financial measure. Additionally, management believes these non-GAAP financial measures allow for meaningful comparisons and analysis of trends in the company’s businesses and enables investors to evaluate operations and future prospects in the same manner as management.

Beginning in the third quarter of fiscal 2026, the company updated its definition of adjusted operating income, adjusted net earnings, adjusted EBITDA, and adjusted EPS – diluted to exclude the acquisition-related amortization of inventory step-up charges. Prior periods have been recast for comparability.

The following provides an explanation of each non-GAAP financial measure presented in these materials:

Adjusted operating income (loss) is defined as operating income (loss) excluding the items listed below, to the extent naturally included in operating income (loss).

Adjusted net earnings is defined as net earnings attributable to controlling interest excluding the after-tax effect of the excluded items outlined below.

Adjusted EPS – diluted is defined as adjusted net earnings divided by diluted weighted-average common shares outstanding for the applicable period.

Adjusted EBITDA is the measure by which management evaluates segment performance and overall profitability. EBITDA is defined as earnings before interest, taxes, depreciation, and amortization. Adjusted EBITDA excludes additional items including, but not limited to, those listed below, as well as other items that management believes are not reflective of, and thus should not be included when evaluating the performance of ongoing operations. Adjusted EBITDA also excludes stock-based compensation due to its non-cash nature, which is consistent with how management assesses operating performance and determines incentive compensation. At the segment level, adjusted EBITDA includes expense allocations for centralized corporate back-office functions that exist to support the day-to-day business operations. Public company and other governance costs are held at the corporate level within the unallocated corporate and other category.

Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by net sales.

Free cash flow is a non-GAAP financial liquidity measure that is used by the company to assess its ability to generate cash beyond what is required for its business operations and capital expenditures. The company defines free cash flow as net cash flows from operating activities less investment in property, plant, and equipment.

Free cash flow conversion is a non-GAAP financial measure that is used by the company to measure how much of its adjusted net earnings attributable to controlling interest is converted into cash. The company defines free cash flow conversion as free cash flow divided by adjusted net earnings.

EXCLUSIONS FROM NON-GAAP FINANCIAL MEASURES

Management believes it is useful to exclude the following items from its non-GAAP financial measures for its own and investors’ assessment of the business for the reasons identified below. Additionally, management may exclude other items from non-GAAP financial measures that do not occur in the ordinary course of the company’s ongoing business operations and note them in the reconciliation from net earnings to the non-GAAP financial measure adjusted EBITDA.

Amortization of inventory step-up represents the increase in inventory fair value associated with the company’s acquisitions. The increase in inventory fair value is amortized to cost of sales over the period that the related inventory is sold. The amortization of inventory step-up is excluded because it is a non-cash expense that is not indicative of ongoing operating results.Impairment charges are excluded because they do not occur in the ordinary course of the company’s ongoing business operations, are inherently unpredictable in timing and amount, and are non-cash, which management believes facilitates the comparison of historical, current and forecasted financial results.Restructuring activities consist of established programs that are intended to fundamentally change the company’s operations, and as such are excluded from its non-GAAP financial measures. The company’s restructuring programs may include closing or consolidating production facilities or moving manufacturing of a product to another location, realignment of the management structure of a business unit in response to changing market conditions or general rationalization of headcount. The company’s restructuring activities generally give rise to employee-related costs, such as severance pay, and facility-related costs, such as exit costs and gains or losses on asset disposals but may include other incremental costs associated with the company’s restructuring activities. Restructuring and other expense, net, may also include other nonrecurring items included in operating income but incremental to the company’s normal business activities. These items are excluded because they are not indicative of the ongoing operations of the company’s underlying business.Loss on partial sale of investment in SES, which resulted from the divestiture of the company’s 49% interest in the Composites business of SES, is excluded because it did not occur in the normal course of business and is inherently predictable in timing and amount.Unrealized losses on marketable equity securities represents the net impact of unrealized losses resulting from mark-to-market adjustments on the company’s marketable equity securities. The company excludes this activity because it is not reflective of on-going operating activity and does not provide a meaningful evaluation of operating performance. UPDATE TO NON-GAAP DEFINITIONS - ADJUSTMENTS FOR AMORTIZATION OF INVENTORY STEP-UP

Beginning in the third quarter of fiscal 2026, the company updated its definitions of adjusted operating income, adjusted net earnings, adjusted EBITDA, and adjusted EPS – diluted to exclude the acquisition-related amortization of inventory step-up charges.

The following tables reflect updates made to the company’s non-GAAP financial measures previously disclosed for fiscal 2024, fiscal 2025 and the first two quarters of fiscal 2026 as a result of the company’s change to exclude the impact of the amortization of inventory step-ups. All dollar amounts are presented in thousands except per share amounts and are on a continuing operations basis.

Fiscal 2024

              Fiscal Adjusted operating income Q1  Q2  Q3  Q4  2024 As reported $4,758  $2,366  $7,978  $5,789  $20,891 Impact of adjustment  -   -   50   -   50 Updated $4,758  $2,366  $8,028  $5,789  $20,941                Fiscal Adjusted net earnings Q1  Q2  Q3  Q4  2024 As reported $37,250  $28,514  $40,190  $37,508  $143,462 Impact of adjustment  -   -   38   -   38 Updated $37,250  $28,514  $40,228  $37,508  $143,500                Fiscal Adjusted EBITDA Q1  Q2  Q3  Q4  2024 As reported $65,915  $55,044  $66,872  $63,168  $250,999 Impact of adjustment  -   -   50   -   50 Updated $65,915  $55,044  $66,922  $63,168  $251,049                       Due to the insignificant magnitude of the amortization of inventory step-up charges in fiscal 2024, there was no change to the reported adjusted EPS – diluted amount.

Fiscal 2025

              Fiscal Adjusted operating income (loss) Q1  Q2  Q3  Q4  2025 As reported $(3,541) $6,141  $26,242  $21,780  $50,622 Impact of adjustment  1,477   -   -   -   1,477 Updated $(2,064) $6,141  $26,242  $21,780  $52,099                Fiscal Adjusted net earnings Q1  Q2  Q3  Q4  2025 As reported $25,121  $30,242  $45,333  $53,097  $153,793 Impact of adjustment  1,108   -   -   19   1,127 Updated $26,229  $30,242  $45,333  $53,116  $154,920                Fiscal Adjusted EBITDA Q1  Q2  Q3  Q4  2025 As reported $48,437  $56,213  $73,779  $85,060  $263,489 Impact of adjustment  1,477   -   -   -   1,477 Updated $49,914  $56,213  $73,779  $85,060  $264,966                Fiscal Adjusted EPS − Diluted Q1  Q2  Q3  Q4  2025 As reported $0.50  $0.60  $0.91  $1.06  $3.07 Impact of adjustment  0.02   -   -   -   0.02 Updated $0.52  $0.60  $0.91  $1.06  $3.09                       Fiscal 2026

              YTD Adjusted operating income Q1  Q2  Q3  Q4  Fiscal 2026 As reported $11,719  $13,908  $35,229  N/A  $60,856 Impact of adjustment  2,151   -  N/A  N/A   2,151 Updated $13,870  $13,908  $35,229  N/A  $63,007                YTD Adjusted net earnings Q1  Q2  Q3  Q4  Fiscal 2026 As reported $37,247  $32,460  $48,526  N/A  $118,233 Impact of adjustment  1,638   (6) N/A  N/A   1,632 Updated $38,885  $32,454  $48,526  N/A  $119,865                YTD Adjusted EBITDA Q1  Q2  Q3  Q4  Fiscal 2026 As reported $65,060  $60,478  $84,615  N/A  $210,153 Impact of adjustment  2,151   -  N/A  N/A   2,151 Updated $67,211  $60,478  $84,615  N/A  $212,304                YTD Adjusted EPS − Diluted Q1  Q2  Q3  Q4  Fiscal 2026 As reported $0.74  $0.65  $0.98  N/A  $2.37 Impact of adjustment  0.04   -  N/A  N/A   0.04 Updated $0.78  $0.65  $0.98  N/A  $2.41 

Worthington Enterprises, Inc. (WOR) Q3 2026 Earnings Call Transcript