Diversified industrial manufacturing company Worthington (NYSE: WOR) will be reporting earnings this Tuesday after market close. Here’s what you need to know.
Worthington beat analysts’ revenue expectations last quarter, reporting revenues of $378.7 million, up 24.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.
Is Worthington a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Worthington’s revenue to grow 21.7% year on year, improving from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Worthington has missed Wall Street’s revenue estimates multiple times over the last two years.
With Worthington being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for industrial machinery stocks. However, there has been positive investor sentiment in the segment, with share prices up 3.6% on average over the last month. Worthington is up 8.5% during the same time .
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