United States Steel Reports Mixed Q2 Results - Here's What To Know
Portfolio Pulse from Ryan Gustafson
United States Steel Corporation (NYSE:X) reported mixed Q2 results with earnings per share of $1.92, beating the analyst consensus estimate of $1.80, but a 50.26% decrease from last year. Quarterly sales were $5.01 billion, missing the analyst consensus estimate of $5.11 billion, a 20.38% decrease from last year. Total steel shipments for Q2 were down 5.2% year-over-year. The company returned $86 million to stockholders through buybacks and dividends in the second quarter.
July 27, 2023 | 9:01 pm
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United States Steel Corporation reported mixed Q2 results with earnings beating estimates but sales missing. The company returned $86 million to stockholders through buybacks and dividends.
The mixed Q2 results with earnings beating estimates but sales missing might lead to a neutral short-term impact on the stock. The company's decision to return $86 million to stockholders through buybacks and dividends could be seen as a positive signal by investors, potentially offsetting the negative impact of the missed sales estimate.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100