Worthington Industries has reported a decline in operating profit margins to 3.7% from 6.0% a year earlier in fiscal 2Q as the steel products maker deals with increased costs due to tariffs. Company President Andrew Rose indicates it is the “biggest challenge” facing the firm but that it has been able to “pass through price increases”. The firm has also cut its imports of steel and aluminum by 33.3% and 15.0% respectively in the three months to Nov. 30 vs. a year earlier. The company may face further challenges if U.S. tariffs on Chinese exports are extended ...
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