Overview
Metals processor's fiscal Q2 revenue grew 18% yr/yr
Company's results driven by higher direct volumes and selling prices
Outlook
Company did not provide specific future guidance in press release
Result Drivers
HIGHER DIRECT VOLUMES - Co reported a 13% increase in direct tons sold, contributing to revenue growth
SELLING PRICE INCREASE - Direct selling prices rose 7%, boosting net sales
TOLL VOLUME DECLINE - Toll volumes fell 24% due to facility closure and softening demand
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $871.90 mln | $797.25 mln (2 Analysts) |
Q2 Adjusted EPS | Miss | $0.38 | $0.39 (2 Analysts) |
Q2 EPS | $0.37 | ||
Q2 Net Income | $18.80 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the iron & steel peer group is "buy"
Wall Street's median 12-month price target for Worthington Steel Inc is $39.00, about 10% above its December 16 closing price of $35.46
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nBwcdC5Fxa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
