logo
Plus   Neg
Share
Email

Stock Alert: United States Steel Up 6% On Q3 Outlook

Shares of United States Steel Corp. (X) are gaining more than 6 percent or $0.53 in Friday's morning trade at $8.94 after the company projected its third-quarter loss to be narrower than analysts' estimates.

Friday, United States Steel said it expects its third-quarter adjusted loss to be approximately $1.45 per share. Analysts polled by Thomson Reuters, on average, expect the company to report loss of $1.53 per share. Analysts' estimates typically exclude special items.

The company said it expects adjusted EBITDA for the quarter to be negative at about $100 million.

"Improving market conditions experienced in June and July have accelerated through August and September. Strengthening steel fundamentals and our ability to respond quickly to increasing customer demand are expected to result in significantly improved adjusted EBITDA in the third quarter," said CEO David Burritt.

United States Steel has traded in a range of $4.54 to $14.52 in the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Microsoft is in agreement with Alaska Airlines to enable flying more sustainably on three most popular routes traveled by Microsoft employees on Alaska Airlines, which uses sustainable aviation fuel (SAF). The SAF, supplied by SkyNRG, is an important option for the aviation industry to reduce carbon (CO2) emissions on a life-cycle basis. Walmart and Sam's Club announced options for customers to safely dispose unused, unwanted and expired medication throughout the year. With this, the retail giant aims to help the public from potential danger for misuse and abuse of prescription medications. On Saturday, October 24, the company will host in-person medication disposal events at select store and club locations across U.S. Telecom giant AT&T, Inc. reported Thursday a 24 percent decline in profit for the third quarter, primarily hurt by lower revenues across all its operating segments amid the impact from COVID-19 pandemic. Adjusted earnings for the quarter met analysts' expectations, while quarterly revenues topped their estimates.
Follow RTT