Analyst predicting net loss for Worthington next quarter
Dec 22, 2008 | 08:57 AM
| Corinna Petry
Goldman Sachs Group Inc. expects Worthington Industries Inc. to post a loss of 9 cents per share in its fiscal third quarter, in sharp contrast to a previous estimate of a 28-cent-per-share profit, due to expected losses in both the steel processing and metal framing businesses.
The investment bank said it believes this could lead Columbus, Ohio-based Worthington to default on debt covenants by its fiscal fourth quarter ending May 31.
In a research note to investors Monday, Goldman Sachs analyst Sal Tharani cut his fiscal 2009 per-share estimate to a negative $1.10 in contrast to a positive 67 cents previously and his fiscal 2010 estimate to a $1-per-share profit from $1.15.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.