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U.S. Steel (X) Reports Q3 Earnings: What Key Metrics Have to Say

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United States Steel (X - Free Report) reported $4.43 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 14.8%. EPS of $1.40 for the same period compares to $1.95 a year ago.

The reported revenue represents a surprise of +1.02% over the Zacks Consensus Estimate of $4.39 billion. With the consensus EPS estimate being $1.15, the EPS surprise was +21.74%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how U.S. Steel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Steel Shipments in Tons - Tubular: 104 Mmt versus 105.92 Mmt estimated by five analysts on average.
  • Average Steel Price per Ton - USSE: $852 compared to the $858.08 average estimate based on five analysts.
  • Average Steel Price per Ton - Flat-rolled: $1,036 versus the five-analyst average estimate of $1,057.34.
  • Steel Shipments in Tons - Mini Mill: 561 Mmt compared to the 570.61 Mmt average estimate based on five analysts.
  • Average Steel Price per Ton - Tubular: $2,927 compared to the $2,754.31 average estimate based on five analysts.
  • Steel Shipments in Tons - U.S. Steel Europe: 958 Mmt versus the five-analyst average estimate of 910.13 Mmt.
  • Net Sales- Mini Mill: $669 million versus $593.22 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +1.1% change.
  • Net Sales- Flat-rolled: $2.83 billion versus the five-analyst average estimate of $2.79 billion. The reported number represents a year-over-year change of -15.5%.
  • Net Sales- USSE: $844 million compared to the $807.56 million average estimate based on five analysts. The reported number represents a change of -9% year over year.
  • Net Sales- Tubular: $314 million versus the five-analyst average estimate of $302.38 million. The reported number represents a year-over-year change of -26.1%.
  • Net Sales- Other Businesses: $1 million versus the three-analyst average estimate of $5.57 million. The reported number represents a year-over-year change of -66.7%.
  • Net Sales- Reconciling Items and Eliminations: -$231 million versus -$215.65 million estimated by two analysts on average.
View all Key Company Metrics for U.S. Steel here>>>

Shares of U.S. Steel have returned +0.9% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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