Worthington Steel, Inc. (WS) Q2 Earnings Miss Estimates

Company Performance - Worthington Steel, Inc. reported quarterly earnings of $0.19 per share, missing the Zacks Consensus Estimate of $0.70 per share, representing an earnings surprise of -72.86% [1] - The company posted revenues of $739 million for the quarter ended November 2024, surpassing the Zacks Consensus Estimate by 5.87%, but down from $808 million year-over-year [2] - Over the last four quarters, Worthington Steel has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Movement and Outlook - Worthington Steel shares have increased approximately 40.1% since the beginning of the year, outperforming the S&P 500's gain of 26.9% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.86 for the coming quarter and $2.95 for the current fiscal year [7] - The estimate revisions trend for Worthington Steel is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Steel - Specialty industry, to which Worthington Steel belongs, is currently in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]