United States Steel Issues Q3 Earnings Guidance

(RTTNews) - United States Steel (X) said it expects third quarter adjusted net earnings per share in a range of $0.44 to $0.48. At mid-point of $0.46 per share, the adjusted earnings guidance includes: $0.36 as projected net earnings per share, at mid-point of guidance; and $0.10 as estimated adjustments. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.39. Analysts' estimates typically exclude special items. Adjusted EBITDA is projected to be approximately $300 million.

CEO David Burritt said, "Adjusted EBITDA guidance of $300 million is in-line with our prior third quarter outlook and reflects resilient domestic flat-rolled steel demand amid a bottoming steel pricing environment. Challenging pricing dynamics are being offset in part by the benefits of our balanced and diverse order books in the North American Flat-Rolled segment. In Europe, we are experiencing a softening demand environment."

Shares of United States Steel are up 2% in pre-market trade on Thursday.

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