Worthington Industries (WOR) 10-Q7 Oct 242025 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Aug. 31, 2024	Sep. 30, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Trading Symbol	WOR
Entity Registrant Name	WORTHINGTON ENTERPRISES, INC
Entity Central Index Key	0000108516
Current Fiscal Year End Date	--05-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Incorporation, State or Country Code	OH
Entity Shell Company	false
Entity File Number	001-08399
Entity Tax Identification Number	31-1189815
Entity Address, Address Line One	200 West Old Wilson Bridge Road
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43085
City Area Code	614
Local Phone Number	438-3210
Entity Common Stock, Shares Outstanding		50,260,265
Title of 12(b) Security	Common Shares, Without Par Value
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Current assets:
Cash and cash equivalents	$ 178,547	$ 244,225
Receivables, less allowances of $508 and $343, respectively	168,497	199,798
Inventories:
Raw materials	77,577	66,040
Work in process	10,053	11,668
Finished products	99,669	86,907
Total inventories	187,299	164,615
Income taxes receivable	4,711	17,319
Prepaid expenses and other current assets	37,383	47,936
Total current assets	576,437	673,893
Investments in unconsolidated affiliates	140,467	144,863
Operating lease assets	27,109	18,667
Goodwill	373,375	331,595
Other intangible assets, net of accumulated amortization of $87,024 and $83,242, respectively	250,376	221,071
Other assets	21,611	21,342
Property, plant and equipment:
Land	8,676	8,657
Buildings and improvements	129,254	123,478
Machinery and equipment	344,250	321,836
Construction in progress	33,841	24,504
Total property, plant and equipment	516,021	478,475
Less: accumulated depreciation	260,125	251,269
Total property, plant and equipment, net	255,896	227,206
Total assets	1,645,271	1,638,637
Current liabilities:
Accounts payable	82,768	91,605
Accrued compensation, contributions to employee benefit plans and related taxes	30,536	41,974
Dividends payable	9,443	9,038
Other accrued items	34,486	29,061
Current operating lease liabilities	7,353	6,228
Income taxes payable	1,652	470
Total current liabilities	166,238	178,376
Other liabilities	57,918	62,243
Distributions in excess of investment in unconsolidated affiliate	110,522	111,905
Long-term debt	300,009	298,133
Noncurrent operating lease liabilities	20,166	12,818
Deferred income taxes, net	87,177	84,150
Total liabilities	742,030	747,625
Shareholders' equity - controlling interest	901,353	888,879
Noncontrolling interests	1,888	2,133
Total equity	903,241	891,012
Total liabilities and equity	$ 1,645,271	$ 1,638,637

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Statement of Financial Position [Abstract]
Receivables, allowances	$ 508	$ 343
Other intangible assets, accumulated amortization	$ 87,024	$ 83,242

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Income Statement [Abstract]
Net sales	$ 257,308	$ 311,918
Cost of goods sold	194,813	242,288
Gross profit	62,495	69,630
Selling, general and administrative expense	66,036	74,544
Restructuring and other expense, net	1,158
Separation costs		2,410
Operating loss	(4,699)	(7,324)
Other income (expense):
Miscellaneous income, net	486	299
Loss on extinguishment of debt		(1,534)
Interest expense, net	(489)	(1,074)
Equity in net income of unconsolidated affiliates	35,492	45,424
Earnings before income taxes	30,790	35,791
Income tax expense	6,782	8,960
Net earnings from continuing operations	24,008	26,831
Net earnings from discontinued operations		72,872
Net earnings	24,008	99,703
Net earnings (loss) attributable to noncontrolling interests	(245)	3,597
Net earnings attributable to controlling interest	24,253	96,106
Amounts attributable to controlling interest:
Net earnings from continuing operations	24,253	26,831
Net earnings from discontinued operations		69,275
Net earnings attributable to controlling interest	$ 24,253	$ 96,106
Earnings per share from continuing operations - basic	$ 0.49	$ 0.55
Earnings per share from discontinued operations - basic		1.42
Net earnings per share attributable to controlling interest - basic	0.49	1.97
Earnings per share from continuing operations - diluted	0.48	0.54
Earnings per share from discontinued operations - diluted		1.39
Net earnings per share attributable to controlling interest - diluted	$ 0.48	$ 1.93
Weighted average common shares outstanding - basic	49,487	48,842
Weighted average common shares outstanding - diluted	50,365	49,886
Cash dividends declared per common share	$ 0.17	$ 0.32

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 24,008	$ 99,703
Other comprehensive income (loss), net of tax
Foreign currency translation	541	1,444
Pension liability adjustment	(7)	3
Cash flow hedges	(50)	(6,849)
Other comprehensive income (loss), net of tax	484	(5,408)
Comprehensive income	24,492	94,295
Comprehensive income (loss) attributable to noncontrolling interests	(245)	3,597
Comprehensive income attributable to controlling interest	$ 24,737	$ 90,698

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Operating activities:
Net earnings	$ 24,008	$ 99,703
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	11,830	28,325
Impairment of long-lived assets		1,401
Benefit from deferred income taxes	(5,537)	(5,453)
Loss on extinguishment of debt		1,534
Bad debt income	(8)	(799)
Equity in net income of unconsolidated affiliates, net of distributions	3,453	10,225
Net loss (gain) on sale of assets	(18)	105
Stock-based compensation	3,925	4,516
Changes in assets and liabilities, net of impact of acquisitions:
Receivables	28,166	(8,843)
Inventories	(6,406)	(64,327)
Accounts payable	(13,093)	278
Accrued compensation and employee benefits	(11,445)	(12,014)
Other operating items, net	6,271	5,045
Net cash provided by operating activities	41,146	59,696
Investing activities:
Investment in property, plant and equipment	(9,629)	(29,298)
Acquisitions, net of cash acquired	(88,887)
Proceeds from sale of assets, net of selling costs	11,769	51
Investment in non-marketable equity securities	(2,000)	(40)
Investment in note receivable		(15,000)
Net cash used by investing activities	(88,747)	(44,287)
Financing activities:
Dividends paid	(8,116)	(15,725)
Repurchase of common shares	(6,803)
Proceeds from issuance of common shares, net of tax withholdings	(3,158)	(5,130)
Net repayments of short-term borrowings		(2,813)
Principal payments on long-term obligations		(243,757)
Payments to noncontrolling interests		(1,921)
Net cash used by financing activities	(18,077)	(269,346)
Decrease in cash and cash equivalents	(65,678)	(253,937)
Cash and cash equivalents at beginning of period	244,225	454,946
Cash and cash equivalents at end of period	$ 178,547	$ 201,009

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 24,253	$ 96,106

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Aug. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Note A – Basis of Presentation Basis of Presentation These interim unaudited consolidated financial statements include the accounts of Worthington Enterprises and its consolidated subsidiaries. Significant intercompany accounts and transactions have been eliminated. We own an 80 % controlling interest in Halo, which was acquired on February 1, 2024. Halo is consolidated with the equity owned by the other joint venture members shown as “noncontrolling interests” in our consolidated balance sheets, and the other joint venture members’ portions of net earnings and OCI are shown as net earnings or comprehensive income attributable to noncontrolling interests in our consolidated statements of earnings and consolidated statements of comprehensive income, respectively. Investments in unconsolidated affiliates that we do not control are accounted for using the equity method with our proportionate share of income or loss recognized within equity income in our consolidated statements of earnings. See further discussion of our unconsolidated affiliates in “Note C – Investments in Unconsolidated Affiliates.” These interim unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, which are of a normal and recurring nature except those which have been disclosed elsewhere in this Form 10-Q, necessary for a fair presentation of the consolidated financial statements for these interim periods, have been included. Operating results for the first quarter of fiscal 2025 are not necessarily indicative of the results that may be expected for the full fiscal year. For further information, refer to the consolidated financial statements and notes thereto included in the 2024 Form 10-K. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Separation of the Steel Processing Business On December 1, 2023, we completed the spin-off of our former steel processing business into an independent publicly traded company, Worthington Steel, on a tax-free basis. Accordingly, the operating results of the former steel processing business are reported as discontinued operations for all periods presented, as discussed in further detail in “Note B – Discontinued Operations.” All discussion within this Form 10-Q, including amounts, percentages and disclosures for all periods presented, reflect only our continuing operations unless otherwise noted. In connection with the Separation, we entered into several agreements with Worthington Steel that govern our ongoing relationships, the most significant of which is the long-term Steel Supply Agreement. Other agreements include a long-term Steel Supply Agreement, a Trademark License Agreement, and Transition Services Agreement. Amounts under the Trademark License Agreement and Transition Services Agreement were not significant during the first quarter of fiscal 2025. Pursuant to the long-term Steel Supply Agreement, Worthington Steel manufactures and supplies to us, at reasonable market rates, certain flat rolled steel products, and will provide us with certain related support services such as design, engineering/technical services, price risk management, scrap management, steel purchasing, supply chain optimization and product rework services, and other services at our request that are ancillary to the supply of the flat rolled steel products. Purchases from Worthington Steel under this agreement for the first quarter of fiscal 2025 , totaled $ 28,431 , of which $ 7,424 was payable at August 31, 2024. Revenue Recognition We recognize all revenue at the point in time the performance obligation is satisfied and control of the product is transferred to the customer upon shipment or delivery.

Discontinued Operations

Discontinued Operations	3 Months Ended
Discontinued Operations	Aug. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Note B – Discontinued Operations The following table summarizes the financial results from the discontinued operations of Worthington Steel for the three months ended August 31, 2023. Net sales $ 881,338 Cost of goods sold 753,479 Gross profit 127,859 Selling, general and administrative expense 37,802 Impairment of long-lived assets 1,401 Separation costs 3,626 Operating income 85,030 Other income (expense): Miscellaneous income, net 710 Interest expense, net ( 2,009 ) Equity in net income of unconsolidated affiliate 8,957 Earnings before income taxes 92,688 Income tax expense 19,816 Net earnings 72,872 Net earnings attributable to noncontrolling interest 3,597 Net earnings attributable to controlling interest $ 69,275 As permitted under GAAP, the cash flows related to discontinued operations have not been segregated in our consolidated statements of cash flows. Accordingly, the consolidated statement of cash flows for the three months ended August 31, 2023 include the results from both continuing and discontinued operations and amounts for certain captions will not agree with respective data in the consolidated balance sheet. The following table summarizes significant non-cash operating items and capital expenditures of discontinued operations included in the consolidated statement of cash flows for the three months ended August 31, 2023. Significant non-cash operating items: Depreciation and amortization $ 16,250 Impairment of long-lived assets 1,401 Equity in income of unconsolidated affiliate ( 8,957 ) Stock-based compensation 1,157 Significant investing activities: Investment in property, plant and equipment ( 19,775 )

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	3 Months Ended
Investments in Unconsolidated Affiliates	Aug. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Affiliates	Note C – Investments in Unconsolidated Affiliates Investments in joint ventures that we do not control, either through majority ownership or otherwise, are unconsolidated and accounted for using the equity method. At August 31, 2024 , we held investments in the following unconsolidated joint ventures: ClarkDietrich ( 25 %); Sustainable Energy Solutions ( 49 %); WAVE ( 50 %); and Workhorse ( 20 %). We received distributions from unconsolidated affiliates totaling $ 38,945 during the three months ended August 31, 2024. We have received cumulative distributions from WAVE in excess of our investment balance, which resulted in a negative asset balance of $ 110,522 and $ 111,905 at August 31, 2024 and May 31, 2024, respectively. In accordance with the applicable accounting guidance, we have reclassified the negative balances to distributions in excess of investment in unconsolidated affiliate within our consolidated balance sheets. We will continue to record our equity in the net income of WAVE as a debit to the investment account, and if it becomes positive, it will again be shown as an asset on our consolidated balance sheets. If it becomes probable that any excess distribution may not be returned (upon joint venture liquidation or otherwise), we will immediately recognize any balance classified as a liability as income. We use the cumulative earnings approach to determine the cash flow presentation of distributions from our unconsolidated joint ventures. Distributions received are included in our consolidated statements of cash flows as operating activities unless the cumulative distributions exceed our share of the cumulative equity in the net earnings of the joint venture. In such cases, the excess distributions are considered returns of investment and are classified as investing activities in our consolidated statements of cash flows. No distributions exceeded our share in any of our unconsolidated joint ventures during the first quarter of fiscal 2025. The following tables summarize combined financial information for our unconsolidated affiliates included in continuing operations as of the dates, and for the periods presented: August 31, May 31, 2024 2024 Cash and cash equivalents $ 43,939 $ 36,163 Other current assets 566,270 605,043 Noncurrent assets 368,543 360,261 Total assets $ 978,752 $ 1,001,467 Current liabilities 216,817 264,963 Current maturities of long-term debt 6,583 13,450 Long-term debt 356,485 349,431 Other noncurrent liabilities 146,754 146,984 Equity 252,113 226,639 Total liabilities and equity $ 978,752 $ 1,001,467 Three Months Ended August 31, 2024 2023 Net sales $ 515,673 $ 568,584 Gross profit 134,335 173,017 Operating income 94,346 131,447 Depreciation and amortization 8,006 7,576 Interest expense 4,758 5,739 Income tax expense 645 909 Net earnings 90,682 125,653

Restructuring and Other Expense

Restructuring and Other Expense, Net	3 Months Ended
Restructuring and Other Expense, Net	Aug. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Expense, Net	Note D – Restructuring and Other Expense, Net We consider restructuring activities to be programs whereby we fundamentally change our operations, such as divestitures, closing or consolidating facilities, employee severance (including rationalizing headcount or other significant changes in personnel), and realignment of existing operations (including changes to management structure in response to underlying performance and/or changing market conditions). A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other income, net financial statement caption in our consolidated statement of earnings for the three months ended August 31, 2024 is summarized below: Balance at Balance at May 31, 2024 Expense Payments August 31, 2024 Early retirement and severance $ 188 $ 435 $ ( 423 ) $ 200 Loss on sale of assets 723 Restructuring and other expense, net $ 1,158 The total liability associated with our restructuring activities as of August 31, 2024 is expected to be paid in the next 12 months.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	3 Months Ended
Contingent Liabilities and Commitments	Aug. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Commitments	Note E – Contingent Liabilities and Commitments Legal Proceedings We are defendants in certain legal actions. In the opinion of management, the outcome of these actions, which is not clearly determinable at the present time, would not significantly affect our consolidated financial position or future results of operations. We also believe that environmental issues will not have a material effect on our capital expenditures, consolidated financial position or future results of operations.

Guarantees

Guarantees	3 Months Ended
Guarantees	Aug. 31, 2024
Guarantees and Product Warranties [Abstract]
Guarantees	Note F – Guarantees We do not have guarantees that we believe are reasonably likely to have a material current or future effect on our consolidated financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. However, at August 31, 2024, we were party to an operating lease for an aircraft in which we guaranteed a residual value at the termination of the lease on March 30, 2028. The maximum obligation under the terms of this guarantee was approximately $ 15,095 at August 31, 2024. Based on current facts and circumstances, we have estimated the likelihood of payment pursuant to this guarantee is not probable and, therefore, no amount has been recognized in our consolidated financial statements. At August 31, 2024, we also had in place $ 10,500 of outstanding stand-by letters of credit issued to third-party service providers. The fair value of these guaranteed instruments, based on premiums paid, was not material and no amounts were drawn against them at August 31, 2024.

Debt

Debt	3 Months Ended
Debt	Aug. 31, 2024
Debt Disclosure [Abstract]
Debt	Note G – Debt Our multi-year revolving Credit Facility is scheduled to mature on September 27, 2028 . Borrowings under the Credit Facility have maturities of up to one year . We have the option to borrow at rates equal to an applicable margin over the Overnight Bank Funding Rate, the Prime Rate of PNC Bank, National Association or the Adjusted Daily Simple SOFR. The applicable margin is determined by our total leverage ratio. There we re no borro wings outstanding under the Credit Facility at August 31, 2024 or May 31, 2024, leaving $ 500,000 available for use.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	3 Months Ended
Other Comprehensive Income (Loss)	Aug. 31, 2024
Equity [Abstract]
Other Comprehensive Income (Loss)	Note H – Other Comprehensive Income (Loss) The following table summarizes the tax effects on each component of OCI for the periods presented: Three Months Ended August 31, 2024 2023 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 12 ) $ 553 $ 541 $ 1,326 $ 118 $ 1,444 Pension liability adjustment ( 7 ) - ( 7 ) - ( 3 ) ( 3 ) Cash flow hedges ( 65 ) 15 ( 50 ) ( 8,811 ) 1,962 ( 6,849 ) Other comprehensive income (loss) $ ( 84 ) $ 568 $ 484 $ ( 7,485 ) $ 2,077 $ ( 5,408 )

Changes in Equity

Changes in Equity	3 Months Ended
Changes in Equity	Aug. 31, 2024
Equity [Abstract]
Changes in Equity	Note I – Changes in Equity The following tables summarize the changes in equity by component and in total for the periods presented: Controlling Interest Additional Paid-in AOCI, Retained Noncontrolling Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2024 $ 299,033 $ 454 $ 589,392 $ 888,879 $ 2,133 $ 891,012 Net earnings (loss) - - 24,253 24,253 ( 245 ) 24,008 Other comprehensive income - 484 - 484 - 484 Common shares issued, net of withholding tax ( 3,158 ) - - ( 3,158 ) - ( 3,158 ) Common shares in non-qualified plans 32 - - 32 - 32 Stock-based compensation 6,216 - - 6,216 - 6,216 Purchases and retirement of common shares ( 884 ) - ( 5,919 ) ( 6,803 ) - ( 6,803 ) Cash dividends declared - - ( 8,550 ) ( 8,550 ) - ( 8,550 ) Balance at August 31, 2024 $ 301,239 $ 938 $ 599,176 $ 901,353 $ 1,888 $ 903,241 Controlling Interest Additional Paid-in AOCI, Retained Noncontrolling Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2023 $ 290,799 $ ( 23,179 ) $ 1,428,391 1,696,011 $ 125,617 $ 1,821,628 Net earnings - - 96,106 96,106 3,597 99,703 Other comprehensive loss - ( 5,408 ) - ( 5,408 ) - ( 5,408 ) Common shares issued, net of withholding tax ( 5,130 ) - - ( 5,130 ) - ( 5,130 ) Common shares in non-qualified plans 130 - - 130 - 130 Stock-based compensation 8,995 - - 8,995 - 8,995 Cash dividends declared - - ( 16,081 ) ( 16,081 ) - ( 16,081 ) Dividends to noncontrolling interests - - - - ( 1,921 ) ( 1,921 ) Balance at August 31, 2023 $ 294,794 $ ( 28,587 ) $ 1,508,416 $ 1,774,623 $ 127,293 $ 1,901,916 The following table summarizes the changes in AOCI for the periods presented: Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2024 $ ( 669 ) $ ( 441 ) $ 1,564 $ 454 OCI before reclassifications ( 12 ) ( 7 ) ( 398 ) ( 417 ) Reclassification adjustments to net earnings (a) - - 333 333 Income tax effect 553 - 15 568 Balance at August 31, 2024 $ ( 128 ) $ ( 448 ) $ 1,514 $ 938 Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2023 $ ( 22,123 ) $ ( 1,730 ) $ 674 $ ( 23,179 ) OCI before reclassifications 1,326 - ( 2,038 ) ( 712 ) Reclassification adjustments to net earnings (a) - - ( 6,773 ) ( 6,773 ) Income tax effect 118 ( 3 ) 1,962 2,077 Balance at August 31, 2023 $ ( 20,679 ) $ ( 1,733 ) $ ( 6,175 ) $ ( 28,587 ) —————————————————— (a) The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “ Note O – Derivative Financial Instruments and Hedging Activities .” Common Shares : On March 20, 2019, the Board authorized the repurchase of up to 6,600,000 of the common shares. On March 24, 2021, the Board authorized the repurchase of up to an additional 5,618,464 of the common shares, increasing the total number of common shares then authorized for repurchase to 10,000,000 . The total number of common shares available for repurchase under these authorizations at August 31, 2024 was 5,915,000 . These common shares may be repurchased from time to time, with consideration given to the market price of the common shares, the nature of other investment opportunities, cash flows from operations, general economic conditions and other relevant considerations. Repurchases may be made on the open market or through privately-negotiated transactions.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Aug. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note J – Stock-Based Compensation Non-Qualified Stock Options During the three months ended August 31, 2024 , we granted non-qualified stock options covering a total of 31,200 common shares under our stock-based compensation plans. For each grant, the exercise price of $ 47.00 was equal to the closing market price of the underlying common shares at the grant date. The weighted average fair value of these non-qualified stock options, based on the Black-Scholes option-pricing model, calculated at the grant date, was $ 17.57 per share. The calculated pre-tax stock-based compensation expense for these non-qualified stock options was $ 548 and will be recognized on a straight-line basis over the three-year vesting period, net of any forfeitures. The weighted average fair value of stock options granted during the three months ended August 31, 2024 was based on the following assumptions: Dividend yield 1.35 % Expected volatility 36.90 % Risk-free interest rate 4.28 % Expected term (years) 6.0 Due to the Separation, we use a comparable peer group to determine the expected volatility of the common shares. The risk-free interest rate is based on the U.S. Treasury strip rate for the expected term of the non-qualified stock options. The expected term was developed using historical exercise experience. Service-Based Restricted Common Shares During the three months ended August 31, 2024 , we granted an aggregate of 82,930 service-based restricted common shares under our stock-based compensation plans, which cliff vest three years from the grant date. The fair value of these restricted common shares was equal to the weighted average closing market price of the underlying common shares on the grant date, or $ 47.04 per share. The calculated pre-tax stock-based compensation expense for these restricted common shares of $ 3,901 will be recognized on a straight-line basis over the three-year vesting period, net of any forfeitures. Performance Share Awards We have awarded performance shares to certain key employees under our stock-based compensation plans. Outstanding performance share awards may be earned based on the level of achievement of corporate targets for cumulative corporate economic value added and EPS growth and, in the case of business unit executives, a business unit adjusted EBITDA from continuing operations target, in each case for the three-year periods ending May 31, 2025, 2026 and 2027. These performance share awards will be paid, to the extent earned, in common shares in the fiscal quarter following the end of the applicable three-year performance period. The fair values of our performance shares are determined by the closing market prices of the underlying common shares at the respective grant dates of the performance shares and the pre-tax stock-based compensation expense is based on our periodic assessment of the probability of the targets being achieved and our estimate of the number of common shares that will ultimately be issued. The ultimate pre-tax stock-based compensation expense to be recognized over the three-year performance period on all tranches will vary based on our periodic assessment of the probability of the targets being achieved. During the three months ended August 31, 2024 , we granted performance share awards covering an aggregate of 24,100 common shares (at target levels). The calculated pre-tax stock-based compensation expense for these performance shares is $ 1,133 (at target levels). The ultimate pre-tax stock-based compensation expense to be recognized over the three-year performance period on all tranches will vary based on our periodic assessment of the probability of the targets being achieved.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Aug. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note K – Income Taxes Income tax expense for the three months ended August 31, 2024 and August 31, 2023 reflected estimated annual effective income tax rates of 24.5 % and 25.1 %, respectively. Management is required to estimate the annual effective income tax rate based upon its forecast of annual pre-tax income for domestic and foreign operations. Our actual effective income tax rate for fiscal 2025 could be materially different from the forecasted rate as of August 31, 2024.

Earnings per Share

Earnings per Share	3 Months Ended
Earnings per Share	Aug. 31, 2024
Earnings Per Share [Abstract]
Earnings per Share	Note L – Earnings per Share The following table sets forth the computation of basic and diluted EPS attributable to controlling interest for the periods presented: Three Months Ended August 31, 2024 2023 Numerator (basic & diluted): Net earnings from continuing operations attributable to controlling interest $ 24,253 $ 26,831 Denominator (shares in thousands): Basic EPS from continuing operations - weighted average common shares 49,487 48,842 Effect of dilutive securities 878 1,044 Diluted EPS from continuing operations - weighted average common shares 50,365 49,886 Basic EPS from continuing operations $ 0.49 $ 0.55 Diluted EPS from continuing operations $ 0.48 $ 0.54 Stock options covering an aggregate of 77,837 and 26,296 common shares for the three months ended August 31, 2024 and August 31, 2023, respectively, have been excluded from the computation of diluted EPS because the effect would have been anti-dilutive for those periods.

Segment Operations

Segment Operations	3 Months Ended
Segment Operations	Aug. 31, 2024
Segment Reporting [Abstract]
Segment Operations	Note M – Segment Operations Our operating segments reflect the way in which internally-reported financial information is regularly reviewed by the CODM to analyze performance, make decisions and allocate resources. We have identified our Chief Executive Officer as our CODM. Factors used to identify operating segments include the nature of the products provided by each business, the management reporting structure, similarity of economic characteristics and certain quantitative measures, as prescribed by GAAP. Our operations are organized under two operating segments: Consumer Products and Building Products. Our former Sustainable Energy Solutions operating segment is presented within Unallocated Corporate and Other in periods prior to its deconsolidation on May 29, 2024. Unallocated Corporate and Other also includes certain assets and liabilities (e.g. public debt) held at the corporate level as well as general corporate expenses that are not directly attributable to our business operations and are administrative in nature, such as public company and other governance-related costs that benefit the organization as a whole. The following tables present summarized financial information for our reportable segments and Unallocated Corporate and Other for the periods indicated. A reconciliation from the GAAP financial measure of earnings before income taxes to the non-GAAP financial measure of adjusted EBITDA from continuing operations is provided directly following the summarized information below. Three Months Ended August 31, 2024 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 117,596 $ 139,712 $ 257,308 $ - $ 257,308 Restructuring and other expense, net - 289 289 869 1,158 Miscellaneous income, net 17 242 259 227 486 Equity income - 36,645 36,645 ( 1,153 ) 35,492 Adjusted EBITDA from continuing operations 17,775 39,729 57,504 ( 9,067 ) 48,437 Three Months Ended August 31, 2023 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 117,353 $ 165,928 $ 283,281 $ 28,637 $ 311,918 Separation costs - - - 2,410 2,410 Miscellaneous income, net 25 63 88 211 299 Loss on extinguishment of debt - - - 1,534 1,534 Equity income - 45,043 45,043 381 45,424 Adjusted EBITDA from continuing operations 14,275 59,692 73,967 ( 8,052 ) 65,915 The following table presents a reconciliation from earnings before income taxes to adjusted EBITDA from continuing operations for the periods presented: Three Months Ended August 31, 2024 2023 Earnings before income taxes $ 30,790 $ 35,791 Less: net loss attributable to noncontrolling interest ( 245 ) - Net earnings before income taxes attributable to controlling interest 31,035 35,791 Interest expense, net 489 1,074 EBIT (1) 31,524 36,865 Corporate costs eliminated at Separation - 9,672 Restructuring and other expense, net 1,158 - Separation costs - 2,410 Loss on extinguishment of debt - 1,534 Adjusted EBIT (1) 32,682 50,481 Depreciation and amortization 11,830 12,075 Stock-based compensation 3,925 3,359 Adjusted EBITDA from continuing operations $ 48,437 $ 65,915 (1) EBIT and adjusted EBIT are not used by management to evaluate our performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of earnings before income taxes to adjusted EBITDA from continuing operations, which management uses to assess operating performance. Total assets for each of our reportable segments at the dates indicated were as follows: August 31, May 31, 2024 2024 Consumer Products $ 564,744 $ 557,826 Building Products 777,749 672,723 Total reportable segments 1,342,493 1,230,549 Unallocated Corporate and Other 302,778 408,088 Total assets of continuing operations $ 1,645,271 $ 1,638,637

Acquisitions

Acquisitions	3 Months Ended
Acquisitions	Aug. 31, 2024
Business Combinations [Abstract]
Acquisitions	Note N – Acquisitions On June 3, 2024, we acquired Ragasco, a leading global manufacturer of composite propane cylinders based in Norway. The total purchase price consisted of cash consideration of $ 102,156 , of which $ 11,343 was on deposit at May 31, 2024, and contingent consideration in the form of an earnout agreement with an estimated acquisition date fair value of $ 7,000 . The earnout agreement provides for additional cash consideration of up to $ 14,000 should certain earnings targets be met through calendar year 2024. Ragasco operates as part of the Building Products operating segment and its results have been included in our consolidated statements of earnings since the date of acquisition. Pro forma results, including the acquired business since the beginning of fiscal 2023, would not be materially different from reported results. The information included herein is based on the preliminary allocation of the purchase price using estimates of the fair value and useful lives of the assets acquired. The purchase price allocation is subject to further adjustment until all pertinent information regarding the assets acquired is fully evaluated by us, including but not limited to, the fair value accounting. The assets acquired and liabilities assumed were recognized at their estimated acquisition-date fair values, with goodwill representing the excess of the purchase price over the fair value of the net identifiable assets acquired. The purchase price includes the fair values of other assets that were not identifiable, not separately recognizable under accounting rules (e.g., assembled workforce) or of immaterial value. The purchase price also includes strategic and synergistic benefits (i.e., investment value) specific to us, which resulted in a purchase price in excess of the fair value of the identifiable net assets. This additional investment value resulted in goodwill, which is not expected to be deductible for income tax purposes. The assets acquired and liabilities assumed were recognized at their estimated acquisition-date fair values, with goodwill representing the excess of the purchase price over the fair value of the net identifiable assets acquired. In connection with the acquisition of Ragasco, we identified and valued the following intangible assets: Useful Life Category Amount (Years) Trade name $ 5,520 10 Technological know-how 14,660 10 Customer relationships 12,660 15 Total acquired identifiable intangible assets $ 32,840 The following table summarizes the consideration transferred and the estimated fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, including preliminary work performed by a third-party valuation specialist, and are subject to change within the measurement period as the valuation is finalized. The primary areas of preliminary purchase price allocation subject to change relate to the valuation of acquired tangible assets and liabilities, identification and valuation of residual goodwill and tax effects of acquired assets and assumed liabilities. Preliminary Valuation Cash and cash equivalents $ 1,925 Accounts receivable 8,554 Inventory 16,403 Other current assets 990 Property, plant and equipment 27,325 Operating lease assets 8,834 Intangible assets 32,840 Total identifiable assets 96,871 Accounts payable ( 4,885 ) Current operating lease liability ( 980 ) Accrued expenses ( 6,344 ) Noncurrent operating lease liability ( 7,886 ) Deferred income taxes ( 8,861 ) Other liabilities ( 100 ) Net identifiable assets 67,815 Goodwill 41,480 Total purchase price 109,295 Less: Fair value of earnout 7,139 Cash purchase price $ 102,156

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	3 Months Ended
Derivative Financial Instruments and Hedging Activities	Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Note O – Derivative Financial Instruments and Hedging Activities We utilize derivative financial instruments to primarily manage exposure to certain risks related to our ongoing operations. The primary risks managed through the use of derivative financial instruments include interest rate risk, foreign currency exchange risk and commodity price risk. While certain of our derivative financial instruments are designated as hedging instruments, we also enter into derivative financial instruments that are designed to hedge a risk, but are not designated as hedging instruments and therefore do not qualify for hedge accounting. These derivative financial instruments are adjusted to current fair value through earnings at the end of each period. Interest Rate Risk Management - We are exposed to the impact of interest rate changes. Our objective is to manage the impact of interest rate changes on cash flows and the market value of our borrowings. We utilize a mix of debt maturities along with both fixed-rate and variable-rate debt to manage changes in interest rates. In addition, we enter into interest rate swaps to further manage our exposure to interest rate variations related to our borrowings and to lower our overall borrowing costs. Foreign Currency Exchange Rate Risk Management - We conduct business in several major international currencies and are, therefore, subject to risks associated with changing foreign currency exchange rates. We enter into various contracts that change in value as foreign currency exchange rates change to manage this exposure. Such contracts limit exposure to both favorable and unfavorable foreign currency exchange rate fluctuations. The translation of foreign currencies into U.S. dollars also subjects us to exposure related to fluctuating foreign currency exchange rates; however, derivative financial instruments are not used to manage this risk. Commodity Price Risk Management – We are exposed to changes in the price of certain commodities, including steel, natural gas, copper, zinc, aluminum and other raw materials, and our utility requirements. Our objective is to reduce earnings and cash flow volatility associated with forecasted purchases and sales of these commodities to allow management to focus its attention on business operations. Accordingly, we enter into derivative financial instruments to manage the associated price risk. We are exposed to counterparty credit risk on all of our derivative financial instruments. Accordingly, we have established and maintain strict counterparty credit guidelines. We have credit support agreements in place with certain counterparties to limit our credit exposure. These agreements require either party to post cash collateral if its cumulative market position exceeds a predefined liability threshold. Amounts posted to the margin accounts accrue interest at market rates and are required to be refunded in the period in which the cumulative market position falls below the required threshold. We do not have significant exposure to any one counterparty and management believes the risk of loss is remote and, in any event, would not be material. Refer to “Note P – Fair Value Measurements ” for additional information regarding the accounting treatment for our derivative financial instruments, as well as how fair value is determined. The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in the consolidated balance sheet at August 31, 2024 and May 31, 2024: Fair Value of Assets Fair Value of Liabilities Balance Balance Sheet August 31, May 31, Sheet August 31, May 31, Location 2024 2024 Location 2024 2024 Derivatives designated as hedging instruments: Commodity contracts Receivables $ 917 $ 601 Accounts payable $ 263 $ 83 Commodity contracts Other assets - - Other liabilities - 21 Subtotal 917 601 263 104 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 58 $ 319 Accounts payable $ 239 $ 69 Foreign currency exchange contracts Receivables - - Accounts payable 200 1,248 Subtotal 58 319 439 1,317 Total derivative financial instruments $ 975 $ 920 $ 702 $ 1,421 The amounts in the table above reflect the fair value of our derivative financial instruments on a net basis where allowed under master netting arrangements. Had these amounts been recognized on a gross basis, the impact would have been an increase in receivables with a corresponding increase in accounts payable of $ 682 and $ 391 at August 31, 2024 and May 31, 2024, respectively. Cash Flow Hedges We enter into derivative financial instruments to hedge our exposure to changes in cash flows attributable to interest rate and commodity price fluctuations associated with certain forecasted transactions. These derivative financial instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on each of these derivative financial instruments is reported as a component of OCI and reclassified into earnings in the same line associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The following table summarizes our cash flow hedges outstanding at August 31, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 3,407 September 2024 - December 2025 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from AOCI into net earnings for derivative financial instruments designated as cash flow hedges for the periods presented: Location of Gain (Loss) Gain (Loss) Gain (Loss) Reclassified Recognized Reclassified from AOCI from AOCI in OCI into Net Earnings into Net Earnings For the three months ended August 31, 2024: Commodity contracts $ ( 398 ) Cost of goods sold $ ( 385 ) Interest rate contracts - Interest expense, net 52 Total $ ( 398 ) $ ( 333 ) For the three months ended August 31, 2023: Commodity contracts $ ( 411 ) Cost of goods sold $ ( 669 ) Interest rate contracts - Loss on extinguishment of debt ( 641 ) Interest rate contracts - Interest expense 31 Foreign currency exchange contracts 23 Miscellaneous income, net 53 Total $ ( 388 ) $ ( 1,226 ) The estimated amount of the net gains recognized in AOCI at August 31, 2024, expected to be reclassified into net earnings within the succeeding 12 months is $ 437 (net of tax of $ 143 ). This amount was computed using the fair value of the cash flow hedges at August 31, 2024, and will change before actual reclassification from OCI to net earnings during the fiscal years ending May 31, 2025 and May 31, 2026. Net Investment Hedges We have designated our Euro-denominated debt held in the U.S. with a principal € 91,700 as a non-derivative net investment hedge of our foreign operations in Portugal. Accordingly, the foreign currency effects resulting from the remeasurement of this debt have been deferred in AOCI as an offset to the translation of our net investment in Portugal. A remeasurement loss of $ 1,835 was deferred in AOCI during the three months ended August 31, 2024. Economic (Non-designated) Hedges We enter into foreign currency exchange contracts to manage our foreign currency exchange rate exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative financial instruments are adjusted to current market value at the end of each period through gain (loss) recognized in earnings. The following table summarizes our economic (non-designated) derivative financial instruments outstanding at August 31, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 1,364 September 2024 - June 2025 Foreign currency exchange contracts $ 66,039 November 2024 The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain Recognized in Earnings Three Months Ended Location of Gain August 31, Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 87 $ 843 Foreign currency exchange contracts Miscellaneous income, net 1,047 - Total $ 1,134 $ 843

Fair Value

Fair Value	3 Months Ended
Fair Value	Aug. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	Note P – Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows: Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 - Unobservable inputs for the asset or liability and that are significant to the fair value of the assets and liabilities (i.e., allowing for situations in which there is little or no market activity for the asset or liability at the measurement date). Recurring Fair Value Measurements At August 31, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 975 $ - $ 975 Total assets $ - $ 975 $ - $ 975 Liabilities (1) Derivative financial instruments $ - $ 702 $ - $ 702 Total liabilities $ - $ 702 $ - $ 702 At May 31, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 920 $ - $ 920 Total assets $ - $ 920 $ - $ 920 Liabilities (1) Derivative financial instruments $ - $ 1,421 $ - $ 1,421 Total liabilities $ - $ 1,421 $ - $ 1,421 —————————————————— (1) The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note O – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments. Non-Recurring Fair Value Measurements At August 31, 2024, there were no assets measured at fair value on a non-recurring basis on our consolidated balance sheet. At May 31, 2024, our assets measured at fair value on a non-recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets Investment in note receivable (1) $ - $ 5,000 $ - $ 5,000 Investment in unconsolidated affiliate (2) - - 31,367 31,367 Total assets $ - $ 5,000 $ 31,367 $ 36,367 —————————————————— (1) Reflects the write-down of an investment in notes receivable that was determined to be other than temporarily impaired. (2) On May 29, 2024, in connection with the contribution of the net assets of our former Sustainable Energy Solutions operating segment to the newly-formed Sustainable Energy Solutions joint venture, we obtained a 49 % minority ownership interest in the joint venture. In accordance with the applicable accounting guidance, our minority ownership interest in the Sustainable Energy Solutions joint venture was recorded at its acquisition date fair value of $ 31,367 . The fair value of non-derivative financial instruments included in the carrying amounts of cash and cash equivalents, receivables, income taxes receivable, other assets, accounts payable, accrued compensation, contributions to employee benefit plans and related taxes, other accrued items, income taxes payable and other liabilities approximate carrying value due to their short-term nature. The fair value of long-term debt, including current maturities, based upon models utilizing market observable (Level 2) inputs and credit risk, was $ 266,478 an d $ 257,866 at August 31, 2024 and May 31, 2024, respectively. The carrying amount of long-term debt, including current maturities, was $ 300,009 and $ 298,133 at August 31, 2024 and May 31, 2024 , respectively.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
Discontinued Operations (Tables)	Aug. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Financial Results from Discontinued Operations	The following table summarizes the financial results from the discontinued operations of Worthington Steel for the three months ended August 31, 2023. Net sales $ 881,338 Cost of goods sold 753,479 Gross profit 127,859 Selling, general and administrative expense 37,802 Impairment of long-lived assets 1,401 Separation costs 3,626 Operating income 85,030 Other income (expense): Miscellaneous income, net 710 Interest expense, net ( 2,009 ) Equity in net income of unconsolidated affiliate 8,957 Earnings before income taxes 92,688 Income tax expense 19,816 Net earnings 72,872 Net earnings attributable to noncontrolling interest 3,597 Net earnings attributable to controlling interest $ 69,275 The following table summarizes significant non-cash operating items and capital expenditures of discontinued operations included in the consolidated statement of cash flows for the three months ended August 31, 2023. Significant non-cash operating items: Depreciation and amortization $ 16,250 Impairment of long-lived assets 1,401 Equity in income of unconsolidated affiliate ( 8,957 ) Stock-based compensation 1,157 Significant investing activities: Investment in property, plant and equipment ( 19,775 )

Investments in Unconsolidated_2

Investments in Unconsolidated Affiliates (Tables)	3 Months Ended
Investments in Unconsolidated Affiliates (Tables)	Aug. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Financial Information	The following tables summarize combined financial information for our unconsolidated affiliates included in continuing operations as of the dates, and for the periods presented: August 31, May 31, 2024 2024 Cash and cash equivalents $ 43,939 $ 36,163 Other current assets 566,270 605,043 Noncurrent assets 368,543 360,261 Total assets $ 978,752 $ 1,001,467 Current liabilities 216,817 264,963 Current maturities of long-term debt 6,583 13,450 Long-term debt 356,485 349,431 Other noncurrent liabilities 146,754 146,984 Equity 252,113 226,639 Total liabilities and equity $ 978,752 $ 1,001,467 Three Months Ended August 31, 2024 2023 Net sales $ 515,673 $ 568,584 Gross profit 134,335 173,017 Operating income 94,346 131,447 Depreciation and amortization 8,006 7,576 Interest expense 4,758 5,739 Income tax expense 645 909 Net earnings 90,682 125,653

Restructuring and Other Expen_2

Restructuring and Other Expense, Net (Tables)	3 Months Ended
Restructuring and Other Expense, Net (Tables)	Aug. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net	A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other income, net financial statement caption in our consolidated statement of earnings for the three months ended August 31, 2024 is summarized below: Balance at Balance at May 31, 2024 Expense Payments August 31, 2024 Early retirement and severance $ 188 $ 435 $ ( 423 ) $ 200 Loss on sale of assets 723 Restructuring and other expense, net $ 1,158

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	3 Months Ended
Other Comprehensive Income (Loss) (Tables)	Aug. 31, 2024
Equity [Abstract]
Summary of Tax Effects on Each Component of OCI	The following table summarizes the tax effects on each component of OCI for the periods presented: Three Months Ended August 31, 2024 2023 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax Foreign currency translation $ ( 12 ) $ 553 $ 541 $ 1,326 $ 118 $ 1,444 Pension liability adjustment ( 7 ) - ( 7 ) - ( 3 ) ( 3 ) Cash flow hedges ( 65 ) 15 ( 50 ) ( 8,811 ) 1,962 ( 6,849 ) Other comprehensive income (loss) $ ( 84 ) $ 568 $ 484 $ ( 7,485 ) $ 2,077 $ ( 5,408 )

Changes in Equity (Tables)

Changes in Equity (Tables)	3 Months Ended
Changes in Equity (Tables)	Aug. 31, 2024
Equity [Abstract]
Summary of Changes in Equity by Component and in Total	The following tables summarize the changes in equity by component and in total for the periods presented: Controlling Interest Additional Paid-in AOCI, Retained Noncontrolling Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2024 $ 299,033 $ 454 $ 589,392 $ 888,879 $ 2,133 $ 891,012 Net earnings (loss) - - 24,253 24,253 ( 245 ) 24,008 Other comprehensive income - 484 - 484 - 484 Common shares issued, net of withholding tax ( 3,158 ) - - ( 3,158 ) - ( 3,158 ) Common shares in non-qualified plans 32 - - 32 - 32 Stock-based compensation 6,216 - - 6,216 - 6,216 Purchases and retirement of common shares ( 884 ) - ( 5,919 ) ( 6,803 ) - ( 6,803 ) Cash dividends declared - - ( 8,550 ) ( 8,550 ) - ( 8,550 ) Balance at August 31, 2024 $ 301,239 $ 938 $ 599,176 $ 901,353 $ 1,888 $ 903,241 Controlling Interest Additional Paid-in AOCI, Retained Noncontrolling Capital Net of Tax Earnings Subtotal Interests Total Balance at May 31, 2023 $ 290,799 $ ( 23,179 ) $ 1,428,391 1,696,011 $ 125,617 $ 1,821,628 Net earnings - - 96,106 96,106 3,597 99,703 Other comprehensive loss - ( 5,408 ) - ( 5,408 ) - ( 5,408 ) Common shares issued, net of withholding tax ( 5,130 ) - - ( 5,130 ) - ( 5,130 ) Common shares in non-qualified plans 130 - - 130 - 130 Stock-based compensation 8,995 - - 8,995 - 8,995 Cash dividends declared - - ( 16,081 ) ( 16,081 ) - ( 16,081 ) Dividends to noncontrolling interests - - - - ( 1,921 ) ( 1,921 ) Balance at August 31, 2023 $ 294,794 $ ( 28,587 ) $ 1,508,416 $ 1,774,623 $ 127,293 $ 1,901,916
Summary of Changes in AOCI	The following table summarizes the changes in AOCI for the periods presented: Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2024 $ ( 669 ) $ ( 441 ) $ 1,564 $ 454 OCI before reclassifications ( 12 ) ( 7 ) ( 398 ) ( 417 ) Reclassification adjustments to net earnings (a) - - 333 333 Income tax effect 553 - 15 568 Balance at August 31, 2024 $ ( 128 ) $ ( 448 ) $ 1,514 $ 938 Foreign Pension Currency Liability Cash Flow Translation Adjustment Hedges AOCI Balance at May 31, 2023 $ ( 22,123 ) $ ( 1,730 ) $ 674 $ ( 23,179 ) OCI before reclassifications 1,326 - ( 2,038 ) ( 712 ) Reclassification adjustments to net earnings (a) - - ( 6,773 ) ( 6,773 ) Income tax effect 118 ( 3 ) 1,962 2,077 Balance at August 31, 2023 $ ( 20,679 ) $ ( 1,733 ) $ ( 6,175 ) $ ( 28,587 ) —————————————————— (a) The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “ Note O – Derivative Financial Instruments and Hedging Activities .” Common Shares : On March 20, 2019, the Board authorized the repurchase of up to 6,600,000 of the common shares. On March 24, 2021, the Board authorized the repurchase of up to an additional 5,618,464 of the common shares, increasing the total number of common shares then authorized for repurchase to 10,000,000 . The total number of common shares available for repurchase under these authorizations at August 31, 2024 was 5,915,000 . These common shares may be repurchased from time to time, with consideration given to the market price of the common shares, the nature of other investment opportunities, cash flows from operations, general economic conditions and other relevant considerations. Repurchases may be made on the open market or through privately-negotiated transactions.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Aug. 31, 2024
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Assumptions Used to Determine Fair Value of Stock Options	The weighted average fair value of stock options granted during the three months ended August 31, 2024 was based on the following assumptions: Dividend yield 1.35 % Expected volatility 36.90 % Risk-free interest rate 4.28 % Expected term (years) 6.0 Due to the Separation, we use a comparable

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
Earnings per Share (Tables)	Aug. 31, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest	The following table sets forth the computation of basic and diluted EPS attributable to controlling interest for the periods presented: Three Months Ended August 31, 2024 2023 Numerator (basic & diluted): Net earnings from continuing operations attributable to controlling interest $ 24,253 $ 26,831 Denominator (shares in thousands): Basic EPS from continuing operations - weighted average common shares 49,487 48,842 Effect of dilutive securities 878 1,044 Diluted EPS from continuing operations - weighted average common shares 50,365 49,886 Basic EPS from continuing operations $ 0.49 $ 0.55 Diluted EPS from continuing operations $ 0.48 $ 0.54

Segment Operations (Tables)

Segment Operations (Tables)	3 Months Ended
Segment Operations (Tables)	Aug. 31, 2024
Segment Reporting [Abstract]
Financial Information for Reportable Segments	The following tables present summarized financial information for our reportable segments and Unallocated Corporate and Other for the periods indicated. A reconciliation from the GAAP financial measure of earnings before income taxes to the non-GAAP financial measure of adjusted EBITDA from continuing operations is provided directly following the summarized information below. Three Months Ended August 31, 2024 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 117,596 $ 139,712 $ 257,308 $ - $ 257,308 Restructuring and other expense, net - 289 289 869 1,158 Miscellaneous income, net 17 242 259 227 486 Equity income - 36,645 36,645 ( 1,153 ) 35,492 Adjusted EBITDA from continuing operations 17,775 39,729 57,504 ( 9,067 ) 48,437 Three Months Ended August 31, 2023 Total Unallocated Consumer Building Reportable Corporate and Products Products Segments Other Total Net sales $ 117,353 $ 165,928 $ 283,281 $ 28,637 $ 311,918 Separation costs - - - 2,410 2,410 Miscellaneous income, net 25 63 88 211 299 Loss on extinguishment of debt - - - 1,534 1,534 Equity income - 45,043 45,043 381 45,424 Adjusted EBITDA from continuing operations 14,275 59,692 73,967 ( 8,052 ) 65,915 Total assets for each of our reportable segments at the dates indicated were as follows: August 31, May 31, 2024 2024 Consumer Products $ 564,744 $ 557,826 Building Products 777,749 672,723 Total reportable segments 1,342,493 1,230,549 Unallocated Corporate and Other 302,778 408,088 Total assets of continuing operations $ 1,645,271 $ 1,638,637
Reconciliation from Earnings Before Income Taxes to Adjusted EBITDA from Continuing Operations	The following table presents a reconciliation from earnings before income taxes to adjusted EBITDA from continuing operations for the periods presented: Three Months Ended August 31, 2024 2023 Earnings before income taxes $ 30,790 $ 35,791 Less: net loss attributable to noncontrolling interest ( 245 ) - Net earnings before income taxes attributable to controlling interest 31,035 35,791 Interest expense, net 489 1,074 EBIT (1) 31,524 36,865 Corporate costs eliminated at Separation - 9,672 Restructuring and other expense, net 1,158 - Separation costs - 2,410 Loss on extinguishment of debt - 1,534 Adjusted EBIT (1) 32,682 50,481 Depreciation and amortization 11,830 12,075 Stock-based compensation 3,925 3,359 Adjusted EBITDA from continuing operations $ 48,437 $ 65,915 (1) EBIT and adjusted EBIT are not used by management to evaluate our performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of earnings before income taxes to adjusted EBITDA from continuing operations, which management uses to assess operating performance.

Acquisitions (Tables)

Acquisitions (Tables) - Ragasco	3 Months Ended
Acquisitions (Tables) - Ragasco	Aug. 31, 2024
Schedule of Acquisition of Intangible Assets	In connection with the acquisition of Ragasco, we identified and valued the following intangible assets: Useful Life Category Amount (Years) Trade name $ 5,520 10 Technological know-how 14,660 10 Customer relationships 12,660 15 Total acquired identifiable intangible assets $ 32,840
Schedule of Consideration Transferred for the Assets and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed	Preliminary Valuation Cash and cash equivalents $ 1,925 Accounts receivable 8,554 Inventory 16,403 Other current assets 990 Property, plant and equipment 27,325 Operating lease assets 8,834 Intangible assets 32,840 Total identifiable assets 96,871 Accounts payable ( 4,885 ) Current operating lease liability ( 980 ) Accrued expenses ( 6,344 ) Noncurrent operating lease liability ( 7,886 ) Deferred income taxes ( 8,861 ) Other liabilities ( 100 ) Net identifiable assets 67,815 Goodwill 41,480 Total purchase price 109,295 Less: Fair value of earnout 7,139 Cash purchase price $ 102,156

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	3 Months Ended
	Aug. 31, 2024
Schedule of Fair Value of Derivative Instruments	The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in the consolidated balance sheet at August 31, 2024 and May 31, 2024: Fair Value of Assets Fair Value of Liabilities Balance Balance Sheet August 31, May 31, Sheet August 31, May 31, Location 2024 2024 Location 2024 2024 Derivatives designated as hedging instruments: Commodity contracts Receivables $ 917 $ 601 Accounts payable $ 263 $ 83 Commodity contracts Other assets - - Other liabilities - 21 Subtotal 917 601 263 104 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 58 $ 319 Accounts payable $ 239 $ 69 Foreign currency exchange contracts Receivables - - Accounts payable 200 1,248 Subtotal 58 319 439 1,317 Total derivative financial instruments $ 975 $ 920 $ 702 $ 1,421
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative financial instruments outstanding at August 31, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 1,364 September 2024 - June 2025 Foreign currency exchange contracts $ 66,039 November 2024
Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments	The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments for the periods presented: Gain Recognized in Earnings Three Months Ended Location of Gain August 31, Recognized in Earnings 2024 2023 Commodity contracts Cost of goods sold $ 87 $ 843 Foreign currency exchange contracts Miscellaneous income, net 1,047 - Total $ 1,134 $ 843
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at August 31, 2024: Notional Amount Maturity Date(s) Commodity contracts $ 3,407 September 2024 - December 2025 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from AOCI into net earnings for derivative financial instruments designated as cash flow hedges for the periods presented: Location of Gain (Loss) Gain (Loss) Gain (Loss) Reclassified Recognized Reclassified from AOCI from AOCI in OCI into Net Earnings into Net Earnings For the three months ended August 31, 2024: Commodity contracts $ ( 398 ) Cost of goods sold $ ( 385 ) Interest rate contracts - Interest expense, net 52 Total $ ( 398 ) $ ( 333 ) For the three months ended August 31, 2023: Commodity contracts $ ( 411 ) Cost of goods sold $ ( 669 ) Interest rate contracts - Loss on extinguishment of debt ( 641 ) Interest rate contracts - Interest expense 31 Foreign currency exchange contracts 23 Miscellaneous income, net 53 Total $ ( 388 ) $ ( 1,226 )

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
Fair Value (Tables)	Aug. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At August 31, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 975 $ - $ 975 Total assets $ - $ 975 $ - $ 975 Liabilities (1) Derivative financial instruments $ - $ 702 $ - $ 702 Total liabilities $ - $ 702 $ - $ 702 At May 31, 2024, our assets and liabilities measured at fair value on a recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets (1) Derivative financial instruments $ - $ 920 $ - $ 920 Total assets $ - $ 920 $ - $ 920 Liabilities (1) Derivative financial instruments $ - $ 1,421 $ - $ 1,421 Total liabilities $ - $ 1,421 $ - $ 1,421 —————————————————— (1) The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note O – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments.
Assets Measured at Fair Value on Non-Recurring Basis	At May 31, 2024, our assets measured at fair value on a non-recurring basis were as follows: (Level 1) (Level 2) (Level 3) Totals Assets Investment in note receivable (1) $ - $ 5,000 $ - $ 5,000 Investment in unconsolidated affiliate (2) - - 31,367 31,367 Total assets $ - $ 5,000 $ 31,367 $ 36,367 —————————————————— (1) Reflects the write-down of an investment in notes receivable that was determined to be other than temporarily impaired. (2) On May 29, 2024, in connection with the contribution of the net assets of our former Sustainable Energy Solutions operating segment to the newly-formed Sustainable Energy Solutions joint venture, we obtained a 49 % minority ownership interest in the joint venture. In accordance with the applicable accounting guidance, our minority ownership interest in the Sustainable Energy Solutions joint venture was recorded at its acquisition date fair value of $ 31,367 .

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Feb. 01, 2024
Halo
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		80%
Worthington Steel \| Long-term Steel Supply Agreement
Significant Accounting Policies [Line Items]
Purchases	$ 28,431
Payable	$ 7,424

Discontinued Operations - Summa

Discontinued Operations - Summary of Financial Results from Discontinued Operations of Worthington Steel (Detail) $ in Thousands	3 Months Ended
	Aug. 31, 2023 USD ($)
Other income (expense):
Net earnings attributable to noncontrolling interest	$ 72,872
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	881,338
Cost of goods sold	753,479
Gross profit	127,859
Selling, general and administrative expense	37,802
Impairment of long-lived assets	1,401
Separation costs	3,626
Operating income	85,030
Other income (expense):
Miscellaneous income, net	710
Interest expense, net	(2,009)
Equity in net income of unconsolidated affiliate	8,957
Earnings before income taxes	92,688
Income tax expense	19,816
Net earnings	72,872
Net earnings attributable to noncontrolling interest	3,597
Net earnings attributable to controlling interest	$ 69,275

Discontinued Operations - Sum_2

Discontinued Operations - Summary of Significant Non Cash Operating Items and Capital Expenditures of Discontinued Operations Included in Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Significant non-cash operating items:
Equity in income of unconsolidated affiliate, net of distributions	$ (3,453)	$ (10,225)
Stock-based compensation	$ 3,925	4,516
Discontinued Operations
Significant non-cash operating items:
Depreciation and amortization		16,250
Impairment of long-lived assets		1,401
Equity in income of unconsolidated affiliate, net of distributions		(8,957)
Stock-based compensation		1,157
Significant investing activities:
Investment in property, plant and equipment		$ (19,775)

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates - Additional Information (Detail) - USD ($)	3 Months Ended
	Aug. 31, 2024	May 31, 2024
Investments in and Advances to Affiliates [Line Items]
Investments in unconsolidated affiliates	$ 140,467,000	$ 144,863,000
Excess dividends received from investing activity	$ 0
ClarkDietrich
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	25%
Sustainable Energy Solutions
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	49%
WAVE
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	50%
Investments in unconsolidated affiliates	$ 110,522,000	$ 111,905,000
Workhorse
Investments in and Advances to Affiliates [Line Items]
Percent of ownership interest held in unconsolidated affiliates	20%
Serviacero Worthington
Investments in and Advances to Affiliates [Line Items]
Distributions from unconsolidated affiliates	$ 38,945,000

Investments in Unconsolidated_4

Investments in Unconsolidated Affiliates - Schedule of Combined Financial Information for Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	May 31, 2024
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	$ 178,547		$ 244,225
Total assets	1,645,271		1,638,637
Current liabilities	166,238		178,376
Long-term debt	300,009		298,133
Other non-current liabilities	57,918		62,243
Equity	901,353		888,879
Total liabilities and equity	1,645,271		1,638,637
Net sales	257,308	$ 311,918
Gross profit	62,495	69,630
Net earnings	24,008	99,703
Equity Method Investment, Nonconsolidated Investee, Other
Investments in and Advances to Affiliates [Line Items]
Cash and cash equivalents	43,939		36,163
Other current assets	566,270		605,043
Noncurrent assets	368,543		360,261
Total assets	978,752		1,001,467
Current liabilities	216,817		264,963
Current maturities of long-term debt	6,583		13,450
Long-term debt	356,485		349,431
Other non-current liabilities	146,754		146,984
Equity	252,113		226,639
Total liabilities and equity	978,752		$ 1,001,467
Net sales	515,673	568,584
Gross profit	134,335	173,017
Operating income	94,346	131,447
Depreciation and amortization	8,006	7,576
Interest expense	4,758	5,739
Income tax expense	645	909
Net earnings	$ 90,682	$ 125,653

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Impaired Long-Lived Assets Held and Used [Line Items]
Adjusted EBITDA from continuing operations	$ 30,790	$ 35,791

Restructuring and Other Expen_3

Restructuring and Other Expense, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Detail) $ in Thousands	3 Months Ended
	Aug. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Loss on sale of assets	$ 723
Restructuring and other expense, net	1,158
Early Retirement And Severance
Restructuring Cost and Reserve [Line Items]
Beginning Balance	188
Expense	435
Payments	(423)
Ending Balance	$ 200

Restructuring and Other Expen_4

Restructuring and Other Expense, Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Income, Net (Parenthetical) (Detail) $ in Thousands	3 Months Ended
	Aug. 31, 2024 USD ($)
Restructuring and Related Activities [Abstract]
Loss on deconsolidation of our former Sustainable Energy Solutions	$ 723

Guarantees - Additional Informa

Guarantees - Additional Information (Detail)	3 Months Ended
Guarantees - Additional Information (Detail)	Aug. 31, 2024 USD ($)
Stand-by Letters of Credit
Guarantor Obligations [Line Items]
Letter of credit amount outstanding	$ 10,500,000
Drawn amount of letter of credit outstanding	0
Operating Lease of Aircraft
Guarantor Obligations [Line Items]
Maximum potential obligation	$ 15,095,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	3 Months Ended
Debt - Additional Information (Detail) - USD ($)	Aug. 31, 2024	May 31, 2024
Debt And Receivables Securitization [Line Items]
Line of credit facility, description	Our multi-year revolving Credit Facility is scheduled to mature on September 27, 2028. Borrowings under the Credit Facility have maturities of up to one year. We have the option to borrow at rates equal to an applicable margin over the Overnight Bank Funding Rate, the Prime Rate of PNC Bank, National Association or the Adjusted Daily Simple SOFR.
Borrowings outstanding	$ 0	$ 0
Multi-year Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maturity date	Sep. 27, 2028
Remaining borrowing capacity	$ 500,000,000	$ 500,000,000
Multi-year Revolving Credit Facility \| Maximum
Debt And Receivables Securitization [Line Items]
Debt maturity period	1 year

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Summary of Tax Effects on Each Component of OCI (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Components Of Other Comprehensive Income Loss [Abstract]
Foreign currency translation, before tax	$ (12)	$ 1,326
Foreign currency translation, tax	553	118
Foreign currency translation, net of tax	541	1,444
Pension liability adjustment, before tax	(7)
Pension liability adjustment, tax		(3)
Pension liability adjustment, net of tax	(7)	3
Cash flow hedges, before tax	(65)	(8,811)
Cash flow hedges, tax	15	1,962
Cash flow hedges, net of tax	(50)	(6,849)
Other comprehensive income (loss), before tax	(84)	(7,485)
Other comprehensive income (loss), tax	568	2,077
Other comprehensive income (loss), net of tax	$ 484	$ (5,408)

Changes in Equity - Summary of

Changes in Equity - Summary of Changes in Equity by Component and in Total (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Balance	$ 891,012	$ 1,821,628
Net earnings (loss)	24,008	99,703
Other comprehensive income (loss), net of tax	484	(5,408)
Common shares issued, net of withholding tax	(3,158)	(5,130)
Common shares in non-qualified plans	32	130
Stock-based compensation	6,216	8,995
Purchases and retirement of common shares	(6,803)
Cash dividends declared	(8,550)	(16,081)
Dividends to noncontrolling interests		(1,921)
Balance	903,241	1,901,916
Additional Paid-in Capital
Balance	299,033	290,799
Common shares issued, net of withholding tax	(3,158)	(5,130)
Common shares in non-qualified plans	32	130
Stock-based compensation	6,216	8,995
Purchases and retirement of common shares	(884)
Balance	301,239	294,794
AOCI, Net of Tax
Balance	454	(23,179)
Other comprehensive income (loss), net of tax	484	(5,408)
Balance	938	(28,587)
Retained Earnings
Balance	589,392	1,428,391
Net earnings (loss)	24,253	96,106
Purchases and retirement of common shares	(5,919)
Cash dividends declared	(8,550)	(16,081)
Balance	599,176	1,508,416
Parent
Balance	888,879	1,696,011
Net earnings (loss)	24,253	96,106
Other comprehensive income (loss), net of tax	484	(5,408)
Common shares issued, net of withholding tax	(3,158)	(5,130)
Common shares in non-qualified plans	32	130
Stock-based compensation	6,216	8,995
Purchases and retirement of common shares	(6,803)
Cash dividends declared	(8,550)	(16,081)
Balance	901,353	1,774,623
Noncontrolling Interest
Balance	2,133	125,617
Net earnings (loss)	(245)	3,597
Dividends to noncontrolling interests		(1,921)
Balance	$ 1,888	$ 127,293

Changes in Equity - Summary o_2

Changes in Equity - Summary of Changes in AOCI (Detail) - USD ($) $ in Thousands		3 Months Ended
		Aug. 31, 2024	Aug. 31, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		$ 891,012	$ 1,821,628
Income tax effect		568	2,077
Balance		903,241	1,901,916
Foreign Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		(669)	(22,123)
OCI before reclassifications		(12)	1,326
Income tax effect		553	118
Balance		(128)	(20,679)
Pension Liability Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		(441)	(1,730)
OCI before reclassifications		(7)
Income tax effect			3
Balance		(448)	(1,733)
Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		1,564	674
OCI before reclassifications		(398)	(2,038)
Reclassification adjustments to net earnings	[1]	333	(6,773)
Income tax effect		15	1,962
Balance		1,514	(6,175)
AOCI
Accumulated Other Comprehensive Income Loss [Line Items]
Balance		454	(23,179)
OCI before reclassifications		(417)	(712)
Reclassification adjustments to net earnings	[1]	333	(6,773)
Income tax effect		568	2,077
Balance		$ 938	$ (28,587)

[1] The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “ Note O – Derivative Financial Instruments and Hedging Activities .”

Equity (Additional Information)

Equity (Additional Information) (Details) - shares	Aug. 31, 2024	Mar. 24, 2021	Mar. 20, 2019
Equity [Abstract]
Share Repurchase Program, Authorized, Number of Shares		5,618,464	6,600,000
Share Repurchase Program, Remaining Authorized, Number of Shares	5,915,000	10,000,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense	$ 3,925	$ 4,516
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted	31,200
Non-qualified stock option, per share weighted average price	$ 47
Non-qualified stock option, weighted average fair value, per share price	$ 17.57
Pre-tax stock-based compensation, period of recognition	3 years
Pre-tax stock-based compensation expense	$ 548
Service-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition	3 years
Pre-tax stock-based compensation expense	$ 3,901
Restricted common shares, granted	82,930
Restricted common shares, fair value per share	$ 47.04
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense	$ 1,133
Restricted common shares, granted	24,100
Pre-tax stock-based compensation, period of recognition	3 years

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions To Value Stock Options (Detail) - Non-Qualified Stock Options	3 Months Ended
	Aug. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.35%
Expected volatility	36.90%
Risk-free interest rate	4.28%
Expected term (years)	6 years

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Aug. 31, 2024	Aug. 31, 2023
Income Tax Disclosure [Abstract]
Estimated annual effective income tax rate	24.50%	25.10%

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Numerator (basic & diluted):
Net earnings from continuing operations attributable to controlling interest	$ 24,253	$ 26,831
Denominator (shares in thousands):
Basic EPS from continuing operations - weighted average common shares	49,487	48,842
Effect of dilutive securities	878	1,044
Diluted EPS from continuing operations - weighted average common shares	50,365	49,886
Basic EPS from continuing operations	$ 0.49	$ 0.55
Diluted EPS from continuing operations	$ 0.48	$ 0.54

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Earnings Per Share [Abstract]
Shares excluded from computation of diluted earnings per share	77,837	26,296

Segment Operations - Additional

Segment Operations - Additional Information (Detail)	3 Months Ended
Segment Operations - Additional Information (Detail)	Aug. 31, 2024 Segment
Segment Reporting Information [Line Items]
Number of operating segments	2

Segment Operations - Financial

Segment Operations - Financial Information for Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	May 31, 2024
Segment Reporting Information [Line Items]
Net sales	$ 257,308	$ 311,918
Restructuring and other expense, net	1,158
Separation costs		2,410
Miscellaneous income, net	486	299
Loss on extinguishment of debt		1,534
Equity income	35,492	45,424
Adjusted EBITDA from continuing operations	30,790	35,791
Total assets of continuing operations	1,645,271		$ 1,638,637
Total assets of continuing operations	1,645,271		1,638,637
Unallocated Corporate and Other
Segment Reporting Information [Line Items]
Net sales		28,637
Restructuring and other expense, net	869
Separation costs		2,410
Miscellaneous income, net	227	211
Loss on extinguishment of debt		1,534
Equity income	(1,153)	381
Adjusted EBITDA from continuing operations	(9,067)	(8,052)
Total
Segment Reporting Information [Line Items]
Adjusted EBITDA from continuing operations	48,437	65,915
Total Reportable Segments
Segment Reporting Information [Line Items]
Net sales	257,308	283,281
Restructuring and other expense, net	289
Miscellaneous income, net	259	88
Equity income	36,645	45,043
Adjusted EBITDA from continuing operations	57,504	73,967
Total assets of continuing operations	1,342,493		1,230,549
Total Reportable Segments \| Consumer products
Segment Reporting Information [Line Items]
Net sales	117,596	117,353
Miscellaneous income, net	17	25
Adjusted EBITDA from continuing operations	17,775	14,275
Total assets of continuing operations	564,744		557,826
Total Reportable Segments \| Building Products
Segment Reporting Information [Line Items]
Net sales	139,712	165,928
Restructuring and other expense, net	289
Miscellaneous income, net	242	63
Equity income	36,645	45,043
Adjusted EBITDA from continuing operations	39,729	$ 59,692
Total assets of continuing operations	777,749		672,723
Unallocated Corporate and Other
Segment Reporting Information [Line Items]
Total assets of continuing operations	$ 302,778		$ 408,088

Segment Operations - Reconcilia

Segment Operations - Reconciliation from Earnings Before Income Taxes to Adjusted EBITDA from Continuing Operations (Detail) - USD ($) $ in Thousands		3 Months Ended
		Aug. 31, 2024	Aug. 31, 2023
Segment Reporting [Abstract]
Earnings before income taxes		$ 30,790	$ 35,791
Less: net loss attributable to noncontrolling interest		(245)
Net earnings before income taxes attributable to controlling interest		31,035	35,791
Interest expense, net		489	1,074
EBIT	[1]	31,524	36,865
Corporate costs eliminated at Separation			9,672
Restructuring and other expense, net		1,158
Separation costs			2,410
Loss on extinguishment of debt			1,534
Adjusted EBIT	[1]	32,682	50,481
Depreciation and amortization		11,830	12,075
Stock-based compensation		3,925	3,359
Adjusted EBITDA from continuing operations		$ 48,437	$ 65,915

[1] EBIT and adjusted EBIT are not used by management to evaluate our performance, engage in financial and operational planning, or to determine incentive compensation. Instead, they are included as subtotals in the reconciliation of earnings before income taxes to adjusted EBITDA from continuing operations, which management uses to assess operating performance.

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Jun. 03, 2024	May 31, 2024
Business Acquisition [Line Items]
Earnout payment	$ 7,000
Ragasco
Business Acquisition [Line Items]
Total purchase price	102,156
Increase in purchase consideration	14,000
Potential earn out payment		$ 11,343
Ragasco \| Preliminary Valuation
Business Acquisition [Line Items]
Total purchase price	109,295
Earnout payment	$ 7,139

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition of Identifiable Intangible Assets (Detail) - Ragasco $ in Thousands	Jun. 03, 2024 USD ($)
Business Acquisition [Line Items]
Acquired indefinite lived intangible assets	$ 32,840
Trade Name
Business Acquisition [Line Items]
Useful Life (Years)	10 years
Acquired indefinite lived intangible assets	$ 5,520
Technological Know-How
Business Acquisition [Line Items]
Useful Life (Years)	10 years
Acquired indefinite lived intangible assets	$ 14,660
Customer Relationships
Business Acquisition [Line Items]
Useful Life (Years)	15 years
Acquired indefinite lived intangible assets	$ 12,660

Acquisitions - Schedule of Cons

Acquisitions - Schedule of Consideration Transferred and the Preliminary Fair Value Assigned to Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 03, 2024	Aug. 31, 2024	May 31, 2024
Business Acquisition [Line Items]
Goodwill		$ 373,375	$ 331,595
Less: Fair value of earnout	$ 7,000
Ragasco
Business Acquisition [Line Items]
Total purchase price	102,156
Ragasco \| Preliminary Valuation
Business Acquisition [Line Items]
Cash and cash equivalents	1,925
Accounts receivable	8,554
Inventory	16,403
Other current assets	990
Property, plant and equipment	27,325
Operating lease assets	8,834
Intangible assets	32,840
Total identifiable assets	96,871
Accounts payable	(4,885)
Current operating lease liability	(980)
Accrued expenses	(6,344)
Noncurrent operating lease liability	(7,886)
Deferred income taxes	(8,861)
Other liabilities	(100)
Net identifiable assets	67,815
Goodwill	41,480
Total purchase price	109,295
Less: Fair value of earnout	7,139
Cash purchase price	$ 102,156

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Derivative [Line Items]
Fair Value of Assets	$ 975	$ 920
Fair Value of Liabilities	702	1,421
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Fair Value of Assets	917	601
Fair Value of Liabilities	263	104
Derivatives Designated As Hedging Instruments \| Commodity Contracts \| Receivables
Derivative [Line Items]
Fair Value of Assets	917	601
Derivatives Designated As Hedging Instruments \| Commodity Contracts \| Other Liabilities
Derivative [Line Items]
Fair Value of Liabilities		21
Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Fair Value of Assets	58	319
Fair Value of Liabilities	439	1,317
Derivatives Not Designated As Hedging Instruments \| Commodity Contracts \| Receivables
Derivative [Line Items]
Fair Value of Assets	58	319
Accounts Payable \| Derivatives Designated As Hedging Instruments \| Commodity Contracts
Derivative [Line Items]
Fair Value of Liabilities	263	83
Accounts Payable \| Derivatives Not Designated As Hedging Instruments \| Commodity Contracts
Derivative [Line Items]
Fair Value of Liabilities	239	69
Accounts Payable \| Derivatives Not Designated As Hedging Instruments \| Foreign Currency Exchange Contracts
Derivative [Line Items]
Fair Value of Liabilities	$ 200	$ 1,248

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Additional Information (Detail) € in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Aug. 31, 2024 USD ($)	May 31, 2024 USD ($)	Aug. 31, 2024 EUR (€)
Derivative [Line Items]
Impact to fair value of derivative assets and liabilities as a result of recognition on a gross basis	$ 682	$ 391
Gains in accumulated other comprehensive income expected to be reclassified into net earnings	437
Gain in accumulated other comprehensive income expected to be reclassified into net earnings, tax	143
Non-derivative Designated As Hedging Instrument \| Foreign Currency Net Investment Hedge
Derivative [Line Items]
Outstanding principal amount \| €			€ 91,700
Foreign currency gain (loss) recognized	$ 1,835

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Schedule of Summary of Derivative Hedges (Detail) $ in Thousands	3 Months Ended
	Aug. 31, 2024 USD ($)
Commodity Contracts \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 1,364
Commodity Contracts \| Minimum \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)	Sep. 30, 2024
Commodity Contracts \| Maximum \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)	Jun. 30, 2025
Foreign Currency Exchange Contracts \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 66,039
Foreign Currency Exchange Contracts \| Minimum \| Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Maturity Date(s)	Nov. 30, 2024
Cash Flow Hedges \| Commodity Contracts
Derivative [Line Items]
Notional Amount	$ 3,407
Cash Flow Hedges \| Commodity Contracts \| Minimum
Derivative [Line Items]
Maturity Date(s)	Sep. 30, 2024
Cash Flow Hedges \| Commodity Contracts \| Maximum
Derivative [Line Items]
Maturity Date(s)	Dec. 31, 2025

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Schedule of Derivative Financials Designated as Cash Flow Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ (398)	$ (388)
Gain (Loss) Reclassified from AOCI into Net Earnings	$ (333)	$ (1,226)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent	Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent
Commodity Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ (398)
Gain (Loss) Reclassified from AOCI into Net Earnings	(385)
Commodity Contracts \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in OCI		$ (411)
Gain (Loss) Reclassified from AOCI into Net Earnings		(669)
Interest Rate Contract \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings	$ 52	(641)
Interest Rate Contracts \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Net Earnings		31
Foreign Currency Exchange Contracts \| Continuing Operations
Derivative [Line Items]
Gain (Loss) Recognized in OCI		23
Gain (Loss) Reclassified from AOCI into Net Earnings		$ 53

Derivative Financial Instrume_7

Derivative Financial Instruments and Hedging Activities - Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Derivative [Line Items]
Gain Recognized in Earnings	$ 1,134	$ 843
Commodity Contracts \| Cost of Goods Sold \| Continuing Operations
Derivative [Line Items]
Gain Recognized in Earnings	87	$ 843
Foreign Currency Exchange Contracts \| Miscellaneous Income, Net \| Continuing Operations
Derivative [Line Items]
Gain Recognized in Earnings	$ 1,047

Fair Value - Schedule of Assets

Fair Value - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands		Aug. 31, 2024	May 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	$ 975	$ 920
Liabilities	[1]	702	1,421
Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	975	1,421
Liabilities	[1]	702	920
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	975	920
Liabilities	[1]	702	1,421
Fair Value, Inputs, Level 2 \| Derivative Financial Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	975	1,421
Liabilities	[1]	$ 702	$ 920

[1] The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “ Note O – Derivative Financial Instruments and Hedging Activities ” for additional information regarding our use of derivative financial instruments.

Fair Value - Assets Measured at

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Nonrecurring $ in Thousands	May 31, 2024 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 36,367
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	5,000
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	31,367
Investment In Note Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	5,000	[1]
Investment In Note Receivable \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	5,000	[1]
Investments In Unconsolidated Affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	31,367	[2]
Investments In Unconsolidated Affiliate \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 31,367	[2]

[1] Reflects the write-down of an investment in notes receivable that was determined to be other than temporarily impaired. On May 29, 2024, in connection with the contribution of the net assets of our former Sustainable Energy Solutions operating segment to the newly-formed Sustainable Energy Solutions joint venture, we obtained a 49 % minority ownership interest in the joint venture. In accordance with the applicable accounting guidance, our minority ownership interest in the Sustainable Energy Solutions joint venture was recorded at its acquisition date fair value of $ 31,367 .

Fair Value - Assets Measured _2

Fair Value - Assets Measured at Fair Value on Non-Recurring Basis (Parenthetical) (Detail) - Sustainable Energy Solutions Joint Venture $ in Thousands	May 29, 2024 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of ownership interest held in unconsolidated affiliates	49%
Fair market value of assets	$ 31,367

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - Long-term Debt - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt at fair value including current maturities	$ 266,478	$ 257,866
Long-term debt at carrying amount including current maturities	$ 300,009	$ 298,133