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Industrial manufacturing firm Worthington Enterprises Q1 revenue beats estimates

Overview

Worthington Enterprises Inc fiscal Q1 revenue rises 18%, beating analyst expectations

Adjusted EPS for fiscal Q1 increases 48% to $0.74

Company acquired Elgen Manufacturing for $91.2 mln in June, boosting Building Products segment

Result Drivers

BUILDING PRODUCTS - Higher volumes and Elgen acquisition drove net sales increase

WAVE CONTRIBUTIONS - Increased equity income from WAVE supported earnings growth

CONSUMER PRODUCTS - Favorable product mix offset by lower volumes in Consumer Products segment

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 RevenueBeat$303.70 mln$291.80 mln (5 Analysts)
Q1 Net Income$34.80 mln
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell" The average consensus recommendation for the industrial machinery & equipment peer group is "buy." Wall Street's median 12-month price target for Worthington Enterprises Inc is $74.00, about 17.5% above its September 22 closing price of $61.03 The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago Press Release: ID:nGNXntnH3 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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