Why Worthington Steel Melted Down on Wednesday
Worthington Steel looks like it earned a profit in Q1, but actually lost money.
Overview
Worthington Steel (NYSE:WS) stock tumbled 10.5% through 11 a.m. ET Wednesday after missing on earnings last night.
Heading into earnings, analysts forecast Worthington to earn $0.68 per share (pro forma) on $2.7 billion in quarterly sales. In fact, Worthington earned only $0.57 per share -- and burned cash.
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Details
Source
Originally published at www.fool.com.
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