COLUMBUS, Ohio – Worthington Metal, Inc. (NYSE:WS) reported second quarter fiscal 2025 outcomes that beat earnings expectations however missed on income, sending shares down 7.25% in after-hours buying and selling Wednesday.
The metal processing firm posted adjusted earnings per share of $0.19, surpassing analyst estimates of $0.15. Nevertheless, income got here in at $739 million, falling in need of the $750.6 million consensus forecast and declining 9% year-over-year.
“Worthington Metal delivered a stable quarter regardless of headwinds throughout quite a few finish markets,” mentioned Geoff Gilmore, president and CEO.
The corporate reported internet gross sales decreased 9% in comparison with the prior yr quarter, pushed primarily by decrease volumes and direct promoting costs. Direct tons bought decreased 5% whereas toll tons bought decreased 1% in comparison with Q2 fiscal 2024.
Gross margin elevated by $19.8 million over the prior yr to $80 million, helped by greater direct spreads which have been partially offset by decrease quantity.
For the quarter, Worthington Metal generated adjusted EBITDA of $30.6 million and free money move of $33.2 million.
The corporate declared a quarterly dividend of $0.16 per share, payable on March 28, 2025.
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