United States Steel Posts Q3 Earnings Beat On Improved Steel Shipments, Despite Weak Prices
Portfolio Pulse from Lekha Gupta
United States Steel Corp (NYSE:X) reported Q3 FY23 revenues of $4.43 billion, beating the consensus of $4.39 billion. Despite a decline in average realized prices for its products, total steel shipments rose. Adjusted EBITDA and EPS also surpassed expectations. The company declared a dividend per share of $0.05. X shares are trading higher by 1.29% at $32.99 premarket on the last check Friday.
October 27, 2023 | 12:29 pm
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United States Steel Corp reported better than expected Q3 FY23 results, with revenues, adjusted EBITDA, and EPS surpassing expectations. The company also declared a dividend per share of $0.05.
United States Steel Corp's better than expected Q3 FY23 results and the declaration of a dividend are likely to have a positive impact on its stock price in the short term. The company's revenues, adjusted EBITDA, and EPS all surpassed expectations, which is a positive signal to investors. Additionally, the declaration of a dividend indicates the company's profitability and its ability to return value to shareholders, which is also likely to be viewed positively by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100