United States Steel Corporation (NYSE:X) announced Thursday its third-quarter earnings, reporting a profit of 56 cents per share, exceeding analyst forecasts of 47 cents. The company also generated revenue of $3.85 billion, surpassing expectations of $3.77 billion.

The company achieved an adjusted EBITDA of $319 million, demonstrating resilience despite lower selling prices. CEO David B. Burritt noted strong performance in the North American Flat-Rolled (NAFR) segment.

Looking ahead, U.S. Steel expects fourth-quarter adjusted EBITDA between $225 million and $275 million, and continues to work towards finalizing its deal with Nippon Steel by year-end.

Here's how analysts view the company following third-quarter results.

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KeyBanc analyst Philip Gibbs highlighted positive factors such as better NAFR pricing and European carbon credit benefits, though performance in the Mini Mill/Big River and Tubular segments lagged.

U.S. Steel's fourth quarter adjusted EBITDA expectations came in higher than KeyBanc's $205 million estimate, but anticipates a decline in NAFR pricing and weaker European results. The company also raised its 2024 capex budget to $2.3 billion due to cost overruns, with a 2025 capex plan of $1 billion.

Regarding the potential transaction with Nippon Steel, U.S. Steel hopes to close the deal by year-end. However, there are concerns about political opposition and regulatory reviews.

BMO Capital Markets analyst Katja Jancic noted how capex has increased for the second consecutive quarter to approximately $2.3 billion, which is disappointing; however, half of this increase is attributed to costs being pulled forward.

Despite this, a significant decline in capex is expected for 2025 and beyond, with plans to reduce it to around $1 billion. BMO is lowering their estimates due to ongoing demand and pricing softness, setting a new price target of $43, down from the previous target of $45 alongside an Outperform rating.

Overall, BMO maintains a positive outlook on U.S. Steel's investments translating into improved profitability and free cash flow over time.

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How To Buy X Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange-traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in United States Steel's case, it is in the Materials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, X has a 52-week high of $50.20 and a 52-week low of $26.92.

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