Worthington Industries, Inc. (NYSE: WOR) reported a 15.3% year-over-year decline in first-quarter FY24 net sales, totaling $1.19 billion and missing the consensus of $1.23 billion.
The decrease resulted from lower average selling prices in Steel Processing and reduced overall volumes.
Adjusted EPS stood at $2.06, beating the consensus of $2.04.
Gross profit rose by 16.6% Y/Y to $197.49 million, with the margin expanding by 453 bps to 16.5%. Operating income reached $77.71 million (+16.6% Y/Y), and the margin was 6.5%, up 178 bps.
Adjusted operating income increased by $18.7 ...