US Steel Reports Better-Than-Expected Q3 Results, Aims To Close Nippon Steel Deal By Year End

United States Steel Corporation X reported its third-quarter results after Thursday’s closing bell. Here’s a look at the details from the report.  

The Details: U.S. Steel reported quarterly earnings of 56 cents per share which beat the analyst consensus estimate of 47 cents. Quarterly revenue came in at $3.85 billion, which beat the consensus estimate of $3.77 billion.

U.S. Steel said it will continue to work to close the deal with Nippon Steel by the year’s end.

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“Third quarter adjusted EBITDA of $319 million demonstrated resilience in our business model despite the weaker average selling prices experienced across our operating segments. The North American Flat-Rolled segment continued to benefit from a strong commercial strategy that leveraged a diverse product mix and a purposeful increase in contracted volumes across the end markets we serve,” said U. S. Steel CEO David B. Burritt.

Outlook: U.S. Steel said it expects fourth-quarter adjusted EBITDA in the range of $225 million to $275 million.

X Price Action: According to Benzinga Pro, U.S. Steel shares are down 0.90% after-hours at $38.50 at the time of publication Thursday.

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