Worthington Industries Swings To Profit In Q2 - Quick Facts

(RTTNews) - Industrial manufacturing company Worthington Industries, Inc. (WOR) reported Thursday net earnings for the second quarter of $110.3 million or $2.15 per share, compared to a net loss of $74.0 million or $1.40 per share in the prior-year quarter.

Excluding items, adjusted net earnings for the quarter were $2.12 per share, compared to $0.95 per share last year.

Net sales for the quarter surged 69 percent to $1.23 billion from $731.1 million in the same quarter last year, primarily due to higher average direct selling prices in Steel Processing.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.72 per share on net sales of $1.25 billion for the quarter. Analysts' estimates typically exclude special items.