United States Steel (X) came out with a quarterly loss of $0.39 per share versus the Zacks Consensus Estimate of a loss of $0.48. This compares to earnings of $0.82 per share a year ago.
The company said it expects third-quarter adjusted Ebitda between $375 million and $425 million as results in its North American flat-rolled segment improve.
While X is expected to have gained from cost and efficiency actions, weaker year-over-year prices are likely to have affected Q1 performance.
U.S. Steel (X) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
U.S. President Donald Trump on Sunday said he doesn't think a foreign company should control U.S. Steel , repeating comments made last week that dimmed hopes for a greenlight of a $14 billion bid by Japan's Nippon Steel to buy the U.S. firm.
Shocks in the global financial markets have been accelerating in the past couple of weeks, especially as President Trump rolls out more aggressive trade tariffs in response to China's refusal to retaliate on the reciprocal tariff plan with all other trading partners. With this in mind, one specific issue is at play when it comes to the industrial sector of the United States, which seems to be at the heart of the agenda for these tariffs.
United States Steel Corporation (NYSE:X) shares fell sharply after President Donald Trump reiterated his opposition to Nippon Steel's proposed $14 billion takeover of the company. The President stated Wednesday night that he doesn't want it sold to “Japan or any other place.
In the middle of a trade war, with tariff threats flying fast and furious, you might expect a big commodity company like United States Steel (X -8.06%) to suffer serious damage.
Shares of U.S. Steel (X) tumbled 8% in early trading Thursday, after President Donald Trump reportedly said that he doesn't want foreign ownership of the company.
United States Steel Corp X has been red-hot until the morning of April 10. After a powerful run, shares are taking a hit in premarket trading, down 10.04% as of 7:55 AM Eastern Time.
U.S. Steel (X) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
US Steel and Nippon Steel had alleged in a lawsuit that Biden prejudiced CFIUS's decision and violated the companies' right to a fair review.