United States Steel Corp Provides Q3 2023 Adjusted Net Earnings Per Diluted Share Guidance Of $1.10-$1.15 Vs $1.01 Est
Portfolio Pulse from Benzinga Newsdesk
United States Steel Corporation (NYSE:X) has provided Q3 2023 adjusted net earnings per diluted share guidance of $1.10 to $1.15, higher than the estimated $1.01. The company expects Q3 2023 adjusted EBITDA to be approximately $550 million. The guidance reflects the expected impact of the United Autoworkers union strike and the company's strategic initiatives. The company also expects to end the third quarter with cash on hand of approximately $3 billion.
September 18, 2023 | 8:18 pm
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POSITIVE IMPACT
United States Steel Corp's Q3 2023 earnings guidance is higher than estimated, which could positively impact the stock price. However, the impact of the United Autoworkers union strike could potentially offset this positive impact.
The company's higher than estimated earnings guidance for Q3 2023 could lead to a positive sentiment among investors, potentially driving the stock price up. However, the ongoing United Autoworkers union strike could have a negative impact on the company's operations, which could offset the positive impact of the earnings guidance.
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