Worthington Industries Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Worthington Industries Inc. (WOR) reported earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $22 million, or $0.44 per share. This compares with $46.3 million, or $0.94 per share, in last year's third quarter.

Excluding items, Worthington Industries Inc. reported adjusted earnings of $40.19 million or $0.80 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.5% to $316.7 million from $346.3 million last year.

Worthington Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $22 Mln. vs. $46.3 Mln. last year. -EPS (Q3): $0.44 vs. $0.94 last year. -Revenue (Q3): $316.7 Mln vs. $346.3 Mln last year.