US Steel Releases Q3 Earnings, Raises Capital Expenditures To $2.3 Billion
Portfolio Pulse from Henry Khederian
US Steel reported Q3 earnings with a profit of 56 cents per share, surpassing expectations. Revenue was $3.85 billion, also exceeding forecasts. The company raised its 2024 capex to $2.3 billion due to cost overruns, with plans to reduce it in 2025. Analysts have mixed views, with some concerns about pricing and regulatory issues.
November 01, 2024 | 6:04 pm
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US Steel exceeded Q3 earnings expectations with a profit of 56 cents per share and revenue of $3.85 billion. The company raised its 2024 capex to $2.3 billion due to cost overruns, with plans to reduce it in 2025. Analysts have mixed views, with some concerns about pricing and regulatory issues.
US Steel's Q3 earnings exceeded expectations, which is positive for the stock. However, the increase in capex and concerns about pricing and regulatory issues may temper investor enthusiasm. The overall impact is likely positive due to the earnings beat.
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