US Steel Stock Slips on Weaker-Than-Expected Outlook

Investopedia12-20 23:22

Key Takeaways U.S. Steel said lower prices and the costs of the ramp up of a new factory will negatively impact current-quarter results.The company's outlook for an adjusted loss and adjusted EBITDA ...

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Analysts surveyed by Visible Alpha were looking for an adjusted per-share profit of $0.16 and adjusted EBITDA of $251 million.Chief Executive Officer  David Burritt explained that \"steel prices remained depressed and BR2 ramp-related","collect":0,"end_time":0,"defaultTopTitle":"investopedia.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4516":"特朗普概念","BK4588":"碎股","CEO":"中海油","BK4520":"美国基建股","BK4585":"ETF&股票定投概念","BK4006":"钢铁","X":"美国钢铁"},"translate_title":"美国钢铁股因前景弱于预期而下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CEO":1,"X":1},"content_text":"Key Takeaways\nU.S. Steel said lower prices and the costs of the ramp up of a new factory will negatively impact current-quarter results.The company's outlook for an adjusted loss and adjusted EBITDA were below forecasts.The news came just days before U.S. officials will decide on whether to approve Nippon Steel's purchase of the company, which is opposed by both President Biden and President-elect Trump.\n U.S. Steel (X) shares fell Friday as the steelmaker gave weaker-than-expected guidance for the current quarter because of falling prices and the costs related to a factory being developed in Arkansas.\n\n\n The company said it anticipates an adjusted fourth-quarter loss of $0.25 to $0.29 and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $150 million. Analysts surveyed by Visible Alpha were looking for an adjusted per-share profit of $0.16 and adjusted EBITDA of $251 million.\n\n\n Chief Executive Officer (CEO) David Burritt explained that \"steel prices remained depressed and BR2 ramp-related costs exert pressure on the quarter.\" BR2, or Big River 2, is a steelmaking facility near Osceola, Ark., which the company said would be the most advanced in North America.\n\n\n  European Demand, Pricing Weak  \n Burritt added that while the company's North America Flat-Rolled segment continues to produce solid EBITDA because of a diverse product mix, weak demand and pricing have negatively impacted results in Europe. \n\n\n The news comes just days before U.S. regulators are scheduled to decide on whether to approve the $14 billion purchase of U.S. Steel by Japan's Nippon Steel. Both President Biden and President-elect Trump have expressed opposition to the merger. \n\n\n The Financial Times reported that Nippon executive Takahiro Mori has been flying around the U.S., meeting with officials in Washington and steelworkers in an effort to salvage the deal.\n\n\n Shares of U.S. Steel fell 4% Friday morning and have lost about 38% of their value this year.\n\n\n \n\n\n\n\n\n \n TradingView\n\nDo you have a news tip for Investopedia reporters? 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