Stock Track | Worthington Steel Plunges 12.71% as Q2 Revenue Miss Overshadows Earnings Beat

Stock Track

Dec 19, 2024

Worthington Steel Inc. (WS) shares plummeted as much as 12.71% during Wednesday's intraday trading session, erasing gains from the pre-market as the company's fiscal second-quarter revenue fell short of analyst expectations, overshadowing an earnings beat.

The steel processor reported adjusted earnings per diluted share of $0.19 for the quarter ended November 30, 2024, 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 be the primary driver behind the steep sell-off in Worthington Steel's stock. The company cited lower volumes and prices as key factors impacting its top line. Direct tons sold fell 5% year-over-year, while direct selling prices were 4% lower than last year. CEO Geoff Gilmore also cited headwinds across several of the company's end markets, contributing to the weaker-than-expected revenue performance.

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(WS) shares plummeted as much as 12.71% during Wednesday's intraday trading session, erasing gains from the pre-market as the company's fiscal second-quarter revenue fell short of analyst expectations, overshadowing an earnings beat.</p>\n\n<p>The steel processor reported adjusted earnings per diluted share of $0.19 for the quarter ended November 30, 2024, 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 be the primary driver behind the steep sell-off in Worthington Steel's stock. The company cited lower volumes and prices as key factors impacting its top line. Direct tons sold fell 5% year-over-year, while direct selling prices were 4% lower than last year. CEO Geoff Gilmore also cited headwinds across several of the company's end markets, contributing to the weaker-than-expected revenue performance.</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":"1189259423","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1189259423","pubTimestamp":1734576290,"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 plummeted as much as 12.71% during Wednesday's intraday trading session, erasing gains from the pre-market as the company's fiscal second-quarter revenue fell short of analyst expectations, overshadowing an earnings beat.The steel processor reported adjusted earnings per diluted share of $0.19 for the quarter ended November 30, 2024, up from $0.11 a year earlier and surpassing analyst estimates. 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