Stock Track | Worthington Steel Plunges Over 10% After Hours on Disappointing Q2 Revenue Miss

Stock Track

Dec 19, 2024

Worthington Steel Inc. (WS) shares tumbled over 10% in extended trading on Wednesday, erasing gains from the regular session. The steep after-hours plunge followed the company's fiscal second-quarter results, which showed lower-than-expected revenue despite an earnings beat.

For the quarter ended November 30, 2024, the steel processor reported adjusted earnings per diluted share of $0.19, up from $0.11 a year earlier and surpassing analyst estimates. However, net sales for the quarter declined to $739 million from $808 million in the same period last year, missing analysts' expectations of around $740.4 million.

The disappointing revenue numbers appeared to overshadow Worthington Steel's earnings beat, triggering a sell-off in the stock during the after-hours session. Investors reacted negatively to the year-over-year decline in sales, which could signal softening demand or other challenges facing the company's business.

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(WS) shares tumbled over 10% in extended trading on Wednesday, erasing gains from the regular session. The steep after-hours plunge followed the company's fiscal second-quarter results, which showed lower-than-expected revenue despite an earnings beat.</p>\n\n<p>For the quarter ended November 30, 2024, the steel processor reported adjusted earnings per diluted share of $0.19, up from $0.11 a year earlier and surpassing analyst estimates. However, net sales for the quarter declined to $739 million from $808 million in the same period last year, missing analysts' expectations of around $740.4 million.</p>\n\n<p>The disappointing revenue numbers appeared to overshadow Worthington Steel's earnings beat, triggering a sell-off in the stock during the after-hours session. Investors reacted negatively to the year-over-year decline in sales, which could signal softening demand or other challenges facing the company's business.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WS","symbol_name":"WORTHINGTON STEEL INC","start_time":0,"source_url":"","article_id":"1169598492","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1169598492","pubTimestamp":1734558501,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Worthington Steel Inc.  shares tumbled over 10% in extended trading on Wednesday, erasing gains from the regular session. 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