Worthington Industries Reports Q1 Non-GAAP EPS Miss and Net Loss
Worthington Industries (WS:NYSE) reported a first-quarter non-GAAP earnings per share of $0.57, which missed expectations by $0.59. The company also posted a net loss attributable to controlling interest of $7.0 million compared to a profit of $36.8 million in the same period last year. Despite the EPS miss and net loss, revenue surged to $2.72 billion for Q1 2024, representing a significant increase of 211.6% year-over-year. Operating income also rose slightly from $48.3 million to $56.0 million during this period. The results highlight strong top-line growth but underscore challenges in translating that into profitability at the bottom line.
Topics: Earnings Financial Performance