United States Steel Corporation X Reports Third-Quarter Earnings
United States Steel Corporation X (X) reported its third-quarter earnings after the closing bell on Thursday, October 26, 2023. The company beat analyst expectations on both earnings and revenue.
Earnings per share: 56 cents, exceeding the analyst consensus estimate of 47 cents.
$3.85 billion, surpassing the consensus estimate of $3.77 billion.
U.S. Steel expects fourth-quarter adjusted EBITDA to be in the range of $225 million to $275 million.
U.S. Steel CEO David B. Burritt commented on the results, highlighting the company's resilience despite weaker average selling prices. He also emphasized the strong performance of the North American Flat-Rolled segment, which benefited from a diverse product mix and increased contracted volumes.
U.S. Steel reiterated its commitment to closing the deal with Nippon Steel by the end of the year.
Following the earnings release, U.S. Steel shares were down 0.90% after-hours at $38.50.