United States Steel Guides Q2 Earnings Above-Consensus, Expects To Maintain $3B Cash At Quarter-End
Portfolio Pulse from Lekha Gupta
United States Steel Corp (NYSE:X) has released its Q2 2023 guidance, expecting adjusted EPS of $1.81-$1.86 and adjusted EBITDA of around $775 million. The company anticipates completing a $75 million share buyback in Q2 and maintaining a $3 billion cash position at quarter-end.
June 20, 2023 | 9:27 am
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U.S. Steel Corp expects higher Q2 2023 earnings, plans a $75 million share buyback, and projects a $3 billion cash position at quarter-end.
The company's Q2 2023 guidance indicates higher earnings than consensus estimates, which is a positive signal for investors. The planned $75 million share buyback and projected $3 billion cash position at quarter-end also demonstrate the company's financial strength and commitment to returning value to shareholders. These factors are likely to have a positive short-term impact on the stock price.
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