Worthington Industries reported a solid first quarter for QQ1 2026, underpinned by a resilient top line and a notably favorable pre-tax contribution from non-operating income. Revenue totaled $303.7 million, down 4.7% year over year, while net income reached $35.15 million with a diluted EPS of $0.71. The gross margin stood at 27.09% and the operating margin was 3.04%, reflecting ongoing cost discipline but a relatively modest operating earnings base. A material driver of overall pretax profitability was “totalOtherIncomeExpensesNet” of $36.44 million, which more than offset the modest operating income of $9.24 million. This composition suggests that one-time or non-core items contributed meaningfully to current period profitability, warranting close scrutiny of sustainability going forward.
Key Performance Indicators
Revenue
Decreasing
303.71M
QoQ: -0.27% | YoY: -4.73%
Gross Profit
Increasing
82.28M
27.09% margin
QoQ: -7.80% | YoY: 5.36%
Operating Income
Increasing
9.24M
QoQ: -55.71% | YoY: 89.02%
Net Income
Increasing
35.15M
QoQ: -11.38% | YoY: 210.58%
EPS
Increasing
0.71
QoQ: -11.25% | YoY: 210.94%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $303.707 million in Q1 2026, down 4.73% YoY and -0.27% QoQ. Gross Profit: $82.284 million, up 5.36% YoY but down 7.80% QoQ; Gross Margin: 27.09% (0.2709). Operating Income: $9.243 million, up 89.02% YoY but down 55.71% QoQ, margin 3.04% (0.0304). Net Income: $35.148 million, up 210.58% YoY and -11.38% QoQ; Net Margin: 11.57%. EBITDA: $9.243 million. EPS: $0.71 (diluted). Weighted average shares: 49.264 million. Pretax income benefited from Total Other Income/Expenses of $36.438 million; Income Before Tax: $45.681 million; Tax expense: $10.86 million; Effective tax rate on reported period: ~23.8% (from the data).
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
303.71M
-4.73%
-0.27%
Gross Profit
82.28M
5.36%
-7.80%
Operating Income
9.24M
89.02%
-55.71%
Net Income
35.15M
210.58%
-11.38%
EPS
0.71
210.94%
-11.25%
Key Financial Ratios
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