Worthington Industries Q4 Profit Declines; Sales Down 35% - Quick Facts

(RTTNews) - Worthington Industries, Inc. (WOR) reported earnings per share of $0.29, for its fourth quarter ended May 31, 2020, which included restructuring and impairment charges reducing earnings per share by $0.20. In the fourth quarter of prior year, earnings per share was $0.66. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.25, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net sales were $611.6 million, down 35% from prior year. The company said the decrease was driven by lower direct volume and lower average direct selling prices in Steel Processing combined with an unfavorable shift in product mix in the industrial products business in Pressure Cylinders. Analysts expected revenue of $669.7 million for the quarter.