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U.S. Steel (X) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2024, United States Steel (X - Free Report) reported revenue of $3.85 billion, down 13% over the same period last year. EPS came in at $0.56, compared to $1.40 in the year-ago quarter.
The reported revenue represents a surprise of +3.13% over the Zacks Consensus Estimate of $3.74 billion. With the consensus EPS estimate being $0.45, the EPS surprise was +24.44%.
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:
Average Steel Price per Ton - Flat-rolled: $993 versus $973.91 estimated by eight analysts on average.
Steel Shipments in Tons - Total: 3,516 Mmt versus 3,632.02 Mmt estimated by eight analysts on average.
Average Steel Price per Ton - Tubular: $1,805 versus $1,954.99 estimated by eight analysts on average.
Average Steel Price per Ton - Mini Mill: $800 versus the eight-analyst average estimate of $801.37.
Average Steel Price per Ton - USSE: $730 versus the eight-analyst average estimate of $791.39.
Steel Shipments in Tons - Flat Rolled: 1,905 Mmt compared to the 2,043.12 Mmt average estimate based on eight analysts.
Net Sales- USSE: $751 million compared to the $741.86 million average estimate based on eight analysts. The reported number represents a change of -11% year over year.
Net Sales- Tubular: $218 million compared to the $221.23 million average estimate based on eight analysts. The reported number represents a change of -30.6% year over year.
Net Sales- Flat-rolled: $2.41 billion versus $2.36 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -14.8% change.
Net Sales- Mini Mill: $582 million versus the seven-analyst average estimate of $575.11 million. The reported number represents a year-over-year change of -13%.
Net Sales- Other Businesses: $9 million versus $4.02 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +800% change.
Net Sales- Reconciling Items and Eliminations: -$121 million versus -$226.17 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -47.6% change.
Shares of U.S. Steel have returned +14.3% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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U.S. Steel (X) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, United States Steel (X - Free Report) reported revenue of $3.85 billion, down 13% over the same period last year. EPS came in at $0.56, compared to $1.40 in the year-ago quarter.
The reported revenue represents a surprise of +3.13% over the Zacks Consensus Estimate of $3.74 billion. With the consensus EPS estimate being $0.45, the EPS surprise was +24.44%.
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:
- Average Steel Price per Ton - Flat-rolled: $993 versus $973.91 estimated by eight analysts on average.
- Steel Shipments in Tons - Total: 3,516 Mmt versus 3,632.02 Mmt estimated by eight analysts on average.
- Average Steel Price per Ton - Tubular: $1,805 versus $1,954.99 estimated by eight analysts on average.
- Average Steel Price per Ton - Mini Mill: $800 versus the eight-analyst average estimate of $801.37.
- Average Steel Price per Ton - USSE: $730 versus the eight-analyst average estimate of $791.39.
- Steel Shipments in Tons - Flat Rolled: 1,905 Mmt compared to the 2,043.12 Mmt average estimate based on eight analysts.
- Net Sales- USSE: $751 million compared to the $741.86 million average estimate based on eight analysts. The reported number represents a change of -11% year over year.
- Net Sales- Tubular: $218 million compared to the $221.23 million average estimate based on eight analysts. The reported number represents a change of -30.6% year over year.
- Net Sales- Flat-rolled: $2.41 billion versus $2.36 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -14.8% change.
- Net Sales- Mini Mill: $582 million versus the seven-analyst average estimate of $575.11 million. The reported number represents a year-over-year change of -13%.
- Net Sales- Other Businesses: $9 million versus $4.02 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +800% change.
- Net Sales- Reconciling Items and Eliminations: -$121 million versus -$226.17 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -47.6% change.
View all Key Company Metrics for U.S. Steel here>>>Shares of U.S. Steel have returned +14.3% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.