Worthington Industries Inc

Engineered components and systems stocks tracked by the publication reported a satisfactory first quarter, with revenues beating analysts' consensus estimates by 3.4% and next quarter's revenue guidance coming in 3.7% above expectations. Timken posted revenues of $1.23 billion, up 8% year on year and exceeding estimates by 5%, while Arrow Electronics led the group with revenues of $9.47 billion, a 39% increase that beat estimates by 12.9%. Worthington was the weakest performer, with revenues of $371.5 million missing estimates by 4%. Regal Rexnord and Park-Ohio also topped expectations, contributing to an average share price gain of 19.2% across the 13 companies since their latest earnings results.

KB Home shares rose 5.8% after the homebuilder reported second-quarter fiscal 2026 revenues of $1.11 billion, exceeding the Zacks Consensus Estimate of $1.09 billion. ICON Public Limited Company gained 10.9% following first-quarter fiscal 2026 adjusted earnings of $2.50 per share, topping the consensus of $2.46. Worthington Enterprises fell 6.1% after fourth-quarter fiscal 2026 revenues of $371.5 million missed the $385.7 million estimate. Delta Air Lines jumped 4.5% as airline stocks were among the session's biggest winners.

Cerebras shares fell 11% in premarket trading after the semiconductor company reported its first earnings since going public in May, posting a first-quarter loss of 22 cents on revenues of $193.4 million and guiding for core gross margin to shrink to between 36% and 38% in the second quarter from 46.5% in the first. FedEx shed about 6.5% even after delivering better-than-expected fiscal fourth-quarter results, which were the last before it spun off its freight business. Micron rose more than 2.5%, rebounding from a 13% drop on Tuesday and ahead of its earnings due after the bell Wednesday, while other memory stocks also recovered from a sell-off triggered by a sharp decline in South Korean tech shares, with Sandisk up more than 2%, Western Digital up more than 1%, and Seagate Technology up about 1%. KB Home added 2.5% after fiscal second-quarter revenue of $1.11 billion beat the $1.10 billion consensus, though earnings of 43 cents per share missed the 45-cent estimate. Worthington Enterprises tumbled 10% after adjusted earnings of 97 cents per share on revenue of $371.5 million fell short of FactSet expectations for $1.06 per share and $386.5 million. Wendy's surged as it became one of the most discussed stocks on Reddit's r/Wallstreetbets, with short interest around 23% of its float according to S3 Partners, potentially setting up a short squeeze. Arm Holdings rose 3% after UBS and TD Cowen raised price targets, citing an improved outlook for its CPU business amid the shift toward agentic AI. Take-Two Interactive Software gained more than 3% after announcing that presales for Grand Theft Auto 6 begin Thursday and after BTIG initiated coverage with a buy rating, saying the game will drive a multi-year improvement in earnings power.

Several companies made notable moves in after-hours trading following earnings reports and executive announcements. FedEx shares fell about 6% after fourth-quarter revenue of $25.01 billion narrowly beat the $24.04 billion consensus. KB Home added 2% as fiscal second-quarter revenue of $1.11 billion topped the $1.10 billion estimate, though earnings of 43 cents per share missed the 45-cent forecast. Cerebras dropped 8% after its first post-IPO report showed a first-quarter loss of 22 cents on $193.4 million in revenue, while guiding full-year core revenue to $855 million to $865 million and current-quarter core revenue to $194 million. Nike gained 1% on news that CFO Matthew Friend will step down and be replaced by Pfizer CFO David Denton effective August 17, and that upcoming results will include a tariff refund benefit. Worthington Enterprises tumbled nearly 10% after adjusted earnings of 97 cents per share on $371.5 million in revenue missed expectations of $1.06 and $386.5 million.

Worthington Enterprises reported quarterly earnings of $0.97 per share, missing the Zacks Consensus Estimate of $1.04 per share and falling short of the year-ago figure of $1.06 per share. The company posted revenues of $371.46 million for the quarter ended May 2026, which was below the consensus estimate by 3.69% but above the prior-year revenue of $317.88 million. The earnings surprise amounted to negative 6.73%, and the company has surpassed consensus EPS estimates only once in the last four quarters. Worthington Enterprises shares have gained about 19.2% year to date, outperforming the S&P 500's 9.2% increase. The current consensus EPS estimate stands at $0.81 on $330.6 million in revenues for the coming quarter and $3.92 on $1.5 billion in revenues for the current fiscal year.

Worthington missed Wall Street's revenue and profit expectations for its fiscal second quarter of 2026, sending shares down 8.6% to $55.79. Revenue rose 16.9% year on year to $371.5 million, but fell short of the $386.8 million analyst consensus. Adjusted earnings per share came in at $0.97, below the $1.06 estimate, while adjusted EBITDA of $83.5 million missed the $89.62 million forecast. The diversified industrial manufacturer reported an operating margin of 6.2%, a sharp improvement from negative 9.6% a year earlier, and generated a free cash flow margin of 14.8%. CEO Joe Hayek described the quarter as one of solid performance with positive organic growth and strong free cash flow.