Worthington Enterprises, Inc. ( WOR ) shares are trading higher on Wednesday following third-quarter fiscal earnings after the market closed on Tuesday.

The Details: Worthington reported adjusted earnings per share of 79 cents, beating analysts’ estimate of 71 cents. In addition, it reported sales of $304.50 million, beating analysts’ estimate of $285.54 million but marking a 3.87% decline year-over-year.

The company attributed the decline in sales to the deconsolidation of the former Sustainable Energy Solutions segment, partially offset by volume growth and contributions from the Ragasco business.

Worthington repurchased about 150,000 shares for $6.2 million throughout the third quarter. The company has 5,565,000 shares remaining under its authorized share repurchase program.

The company reported free cash flow of $44.4 million. Furthermore, it ended the quarter with $228.8 million in cash, a decrease of $21.4 million from May 31.

“As we look ahead, we remain confident in our ability to drive long-term growth and deliver shareholder value. Our strong balance sheet, solid free cash flow and disciplined capital allocation strategy provide us the flexibility to invest in our businesses, pursue strategic M&A and return capital to shareholders with a focus on long-term value creation,” CEO Joe Hayek said.

“While recent tariff announcements are creating some uncertainty across multiple markets, we are well-positioned as a domestic designer and manufacturer of market-leading brands, with strong customer relationships and an exceptional team who is committed to driving improvements throughout our business, as we navigate near-term dynamics and capitalize on future opportunities.”

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WOR Price Action: At the time of writing, Worthington shares are trading 22.4% higher at $50.98, according to data from Benzinga Pro.

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