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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Beat | $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
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