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U.S. Steel Sees Q3 Results Above View - Quick Facts

(RTTNews) - United States Steel Corp. (X) said it expects third quarter 2019 net loss to be in a range of $84 million - $94 million or $0.49 - $0.55 per share, and adjusted net loss of $35 million - $45 million or $0.20 - $0.26 per share. Analysts polled by Thomson Reuters expect the company to report a loss of $0.33 per share for the third-quarter. Analysts' estimates typically exclude special items.

"Stronger shipments and better than expected manufacturing performance in our Flat-rolled segment, as well as a contingency gain from recovered claims arising out of the bankruptcy of a supplier drove better than expected results," the company said in a statement.

The company projects total net sales to be between $3.040 billion and $3.075 billion for the third-quarter. Analysts expect revenue of $3.02 billion for the quarter.

The company plans to report third quarter 2019 financial results after market close on October 31, 2019.

In Thursday's pre-market trade, X is trading at $10.25, up $0.15 or 1.49 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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