United States Steel

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target by $4 to $39, which values X at an EV/EBITDA of 5.5x our 2024 EBITDA estimate, below the peer group average forward EV/EBITDA of 7.0x, but above X’s three-year average of 2.9x. We raise our 2023 EPS view by $0.50 to $4.55 and 2024’s by $1.74 to $3.75. X posted Q3 adj. EPS of $1.40 vs. $1.95, $0.25 above consensus, driven by a top-line beat of 4%. Q3 adj. EBITDA fell 32% Y/Y, but beat consensus by 4.3%. Q3 free cash flow was $232 million, which is after spending $432 million on strategic capex related to ongoing projects. During the Q3 conference call, management stressed that 2024 consensus forecasts are much too pessimistic. Even when assuming a price headwind of an average […]

UNITED STATES STEEL CORPORATION Reports Q3 Revenue $4.43B, vs. Street Est of $4.261B.

United States Steel (X) reported Q3 adjusted diluted earnings Thursday of $1.40 a share, down from $1.98 a year earlier. Analysts surveyed by Capital IQ expected $1.15. Sales for the quarter ended Sept. 30 were $4.43 billion, down from $5.2 billion a year earlier. Two analysts surveyed by Capital IQ expected $4.26 billion. The company said its board maintained a quarterly dividend of $0.05 per share, payable Dec. 7 to stockholders of record on Nov. 6.

United States Steel Corp (NYSE:X) Provides Q3 2023 Adjusted Net Earnings Per Diluted Share Guidance Of $1.10-$1.15 Vs $1.01 Est. 3Q Adj EBITDA About $550M

United States Steel (NYSE:X) reported Q2 adjusted earnings  of $1.92 per diluted share, down from $3.89 per share a year earlier. Analysts polled by Capital IQ expected adjusted EPS of $1.77. Net sales for the quarter ended June 30 were $5.01 billion, compared with $6.29 billion a year earlier. Analysts surveyed by Capital IQ expected $4.94 billion. Separately, the company declared a quarterly dividend of $0.05 per share, unchanged from the prior quarter’s dividend. The latest dividend is payable on Sept. 7 to stockholders of record on Aug. 7.