U.S. Steel Powers Through Pricing Pressures, Domestic Demand Holds Strong Despite Global Challenges
Portfolio Pulse from Nabaparna Bhattacharya
United States Steel Corporation (NYSE:X) shares rise as the company provides a positive third-quarter 2024 earnings outlook, despite global challenges. The company expects adjusted net earnings per share between $0.44 and $0.48, surpassing estimates. Adjusted EBITDA is projected at $300 million, reflecting strong domestic demand and resilient flat-rolled steel demand. However, challenges persist in Europe and the Tubular segment. The company is progressing with regulatory reviews for a transaction with Nippon Steel.
September 19, 2024 | 6:09 pm
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United States Steel Corporation shares are trading higher due to a positive third-quarter 2024 earnings outlook, with EPS guidance above estimates. The company expects strong domestic demand to offset global challenges.
The positive earnings guidance, with EPS above estimates, is likely to boost investor confidence and drive the stock price higher in the short term. The company's ability to maintain strong domestic demand despite global challenges is a positive indicator.
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