Worthington Steel Hits 4-Month Low on Weak Q2 Earnings, Extends Losing Streak: Retail Sentiment Collapses To Year-Low

Shares of Worthington Steel sank over 16% in early trading Thursday, hitting a four-month low of $30, as the metal manufacturer extended its losing streak to eight days.

The decline follows disappointing second-quarter earnings, marking the largest single-day drop for the stock this year, as per Koyfin data.

The stock was last seen trading at these levels in early September. 

Worthington Steel Inc. Stock Movement Year-to-Date. | Source: TradingView

The company’s revenue for the quarter was $739 million, in line with analyst expectations of $740.4 million. However, earnings per share fell short at $0.19, well below the anticipated $0.56, according to Stocktwits data.

Worthington Steel reported operating income of $18.9 million, a turnaround from an $8.8 million loss in the same quarter last year. Similarly, net earnings rose to $12.8 million, compared to a $6.0 million loss in Q2 2024.

The company’s direct tons sold dropped 5% year-over-year, with toll tons sold down 1%.

“Worthington Steel delivered a solid quarter despite headwinds across a number of end markets,” said CEO Geoff Gilmore in a statement.

Worthington Steel Inc. Sentiment and Message Volume on Dec 19 as of 9:55 a.m. ET | Source: Stocktwits

Retail sentiment around the stock turned sharply negative, flipping to ‘extremely bearish’ (17/100) — the lowest in the past year — from ‘extremely bullish’ the previous day, while chatter remained at ‘extremely high’ levels. 

Despite the recent selloff, the stock remains up 13% year-to-date but has erased all gains since September.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

Read also: Crypto Miners Claw Back Losses Pre-Market As Powell’s Fed Stance On Bitcoin Fuels Debate