Worthington Steel, Inc. (NYSE: WS) stock is trading lower by 11.45 percent after markets close after Q3 earnings miss.
The company reported adjusted earnings of $0.27 per share for the third quarter, falling short of analysts’ expectations of $0.46 per share and down from $0.35 per share a year earlier. Revenue for the third quarter was $769.8 million, an increase from $687.4 million a year ago, but below the analysts’ forecast of $882.95 million.
Worthington Steel reported third quarter operating income of $3.1 million, a decrease from $18.3 million in the previous year. Adjusted EBIT for the quarter was $20.0 million, compared to $25.3 million a year earlier.
Post-market trading showed Worthington Steel at $31.00 after the stock closed at $35.01 in the prior session. The stock traded between an intraday low of $34.07 and high of $35.26 on volume of 433.3 thousand shares.
