Worthington Enterprises, Inc. (NYSE:WOR) Q3 2024 Earnings Conference Call March 21, 2024 8:30 AM ET

Company Participants

Marcus Rogier - Treasurer & IRO
Andy Rose - President & CEO
Joseph Hayek - CFO & COO

Conference Call Participants

Daniel Moore - CJS Securities
Susan Maklari - Goldman Sachs
Brian Biros - Thompson Research Group
Brian McNamara - Canaccord Genuity

Operator

Hello, and welcome to the Worthington Enterprises Third Quarter Fiscal 2024 Earnings Conference Call. All participants will be in a listen-only mode, until the question-and-answer session of the call. This conference is being recorded at the request of Worthington Enterprises. If anyone objects, you may disconnect at this time.

I'd now like to introduce Marcus Rogier, Treasurer and Investor Relations Officer. Mr. Rogier, you may begin.

Marcus Rogier

Thank you, Sarah. Good morning, everyone, and welcome to Worthington Enterprises third quarter fiscal 2024 earnings call. On our call today, we have Andy Rose, Worthington's President and Chief Executive Officer; and Joe Hayek, Worthington's Chief Financial and Operations Officer.

Before we get started, I'd like to note that certain statements made today are forward-looking within the meaning of the 1995 Private Securities Litigation Reform Act. These statements are subject to risk and uncertainties that could cause actual results to differ from those suggested. We issued our earnings release yesterday after the market close. Please refer to it for more detail on those factors that could cause actual results to differ materially.

In addition, our discussion today will include non-GAAP financial measures. A reconciliation of these measures with the most appropriate comparable GAAP measure is included in the earnings press release, which is available on our investor relations website.

At this point, I will turn the call over to Andy for opening remarks.

Andy Rose

Thank you, Marcus, and good morning. I want to welcome everyone to our first full quarter as Worthington Enterprises. We've hit the ground running and are already delivering solid results as evidenced by our adjusted EBITDA of $67 million and adjusted earnings per share of $0.80. While there are a number of one-time items mostly related to the separation which Joe will run through, we are proud of our people and their ability to stay focused over the past year.

I remain as excited as ever about Worthington Enterprises and our opportunity for long-term value creation. Our consumer products, building products, and sustainable energy businesses represent a strong franchise of market leading products and brands that will enable people to live safer, healthier and more expressive lives. We have a unique and proven growth platform that has been purposefully created using deep industry expertise, a performance driven people first culture and the best employees in the world, and a thoughtful long term investment strategy.