United States Steel Corporation (NYSE:X) shares are trading higher after the company announced its second-quarter guidance.
U.S. Steel has provided a second-quarter 2024 adjusted net earnings per diluted share guidance of $0.76 to $0.80, below the analyst consensus estimate of $0.83.
Second quarter 2024 adjusted EBITDA is expected to be approximately $425 million against the prior guidance of $425 million to $475 million.
"Adjusted EBITDA guidance of $425 million is at the lower end of our prior second quarter outlook and reflects stable domestic flat-rolled steel end-use demand despite a dynamic spot steel pricing environment," said President and CEO David B. Burritt.
"As expected, challenging market conditions are negatively impacting the Tubular segment's performance."
Recently, the proposed $14.9 billion merger between Nippon Steel Corp and U.S. Steel has been met with strong opposition.
The deal, initially expected to close by mid-2024, has been delayed due to political resistance and ongoing investigations.
It is facing opposition from President Joe Biden who wants the U.S. Steel to remain under domestic ownership. The steel workers union, USW has also expressed concerns about potential job losses.
"We continue to work towards the remaining U. S. regulatory approvals, and look forward to closing the transaction that will bring advanced technologies to U. S. Steel to support a stronger domestic steel industry with enhanced competition and will strengthen national security, economic security and job security," said David B. Burritt.
Price Action: X shares are trading higher by 0.80% at $36.75 at last check Monday.
Photo by Dennis Diatel on Shutterstock
美國鋼鐵公司(紐約證券交易所代碼:X)公佈第二季度業績指引後,股價走高。
美國鋼鐵公司提供的2024年第二季度調整後攤薄後每股淨收益預期爲0.76美元至0.80美元,低於分析師共識估計的0.83美元。
2024年第二季度調整後的息稅折舊攤銷前利潤預計約爲4.25億美元,而之前的預期爲4.25億美元至4.75億美元。
總裁兼首席執行官David B. Burritt表示:“調整後的息稅折舊攤銷前利潤預期爲4.25億美元,處於我們前一第二季度展望的低端,反映了儘管現貨鋼鐵定價環境充滿活力,但國內平軋鋼最終用途需求保持穩定。”
“正如預期的那樣,充滿挑戰的市場條件正在對Tubular細分市場的表現產生負面影響。”
最近,新日鐵公司和美國鋼鐵公司擬議的149億美元合併遭到了強烈反對。
該交易最初預計將於2024年中期完成,但由於政治抵制和正在進行的調查而被推遲。
它正面臨喬·拜登總統的反對,他希望美國鋼鐵公司繼續歸國內所有。USW鋼鐵工人工會也對潛在的失業表示擔憂。
David B. Burritt說:“我們將繼續努力爭取獲得剩餘的美國監管部門批准,並期待完成這筆交易,這將爲美國鋼鐵公司帶來先進技術,通過加強競爭來支持更強大的國內鋼鐵行業,並將加強國家安全、經濟安全和就業保障。”
價格走勢:週一最後一次檢查時,X股上漲0.80%,至36.75美元。
照片由 Dennis Diatel 在 Shutterstock 上拍攝