(Updates with the company's latest stock move in the headline and the first paragraph.)

Worthington Steel (WS) shares were down 6.6% in Wednesday trading after the steel processing company reported its fiscal Q1 results late Tuesday.

The company posted quarterly adjusted net income of $0.57 per diluted share, down from $0.77 a year earlier.

Revenue for the quarter ended Aug. 31 was $2.73 billion, up from $872.9 million a year earlier.

An analyst polled by FactSet expected $3.14 billion.

The company kept its quarterly dividend at $0.16 per share, payable on Dec. 28 to shareholders of record on Dec. 14.

Price: 35.76, Change: -2.43, Percent Change: -6.36