Worthington buyouts lift sales

June 26, 2014

Steel processor Worthington Industries (WOR) is seeing steel shipment volume rise amid surging global sales of autos and recovery in the housing and industrial sectors. Acquisitions helped boost its fiscal Q4 sales 27% to $891 mil, trouncing views for $841 mil. Sales growth has accelerated for the past 4 quarters. Thomson Reuters reported Worthington Q4 EPS as 61 cents, a penny below last year, and 6 cents below consensus. Shares fell 2% to 42.37.