United States Steel Earnings: Stronger Than Wall Street Estimates
United States Steel Corp. (NYSE:X) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Despite exceeding expectations, the net loss and quarterly revenue dip have shares down 1.01%.
United States Steel Corp. Earnings Cheat Sheet
Results: Net loss of $50 million (loss of 35 cents per diluted share) in the quarter versus a net loss of $211 million in the year-earlier quarter.
Revenue: Decreased 6.62% to $4.5 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: United States Steel Corp. reported adjusted net loss of 35 cent per share. By that measure, the company beat the mean analyst estimate loss of 70 cents per share. It beat the average revenue estimate of $4.35 billion.
Quoting Management: U. S. Steel Chairman and CEO John P. Surma said, “For the third consecutive quarter all three of our reportable segments had positive operating results despite the uncertain global economic environment. Lower drilling and project line pipe activity, as well as continued high import levels, significantly reduced our Tubular segment’s results…