Worthington Steel Full Year 2024 Earnings: Beats Expectations

Worthington Steel (NYSE:WS) Full Year 2024 Results

Key Financial Results

• Revenue: US$3.43b (down 4.9% from FY 2023).
• Net income: US$154.7m (up 78% from FY 2023).
• Profit margin: 4.5% (up from 2.4% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: US$3.14 (up from US$1.77 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Worthington Steel Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 15%.

The primary driver behind last 12 months revenue was the United States segment contributing a total revenue of US$2.75b (80% of total revenue). Notably, cost of sales worth US$2.99b amounted to 87% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$224.4m (79% of total expenses). Explore how WS's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the US are expected to grow by 5.1%.

Performance of the American Metals and Mining industry.

The company's shares are down 12% from a week ago.

Risk Analysis

Be aware that Worthington Steel is showing 1 warning sign in our investment analysis that you should know about...

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