US Steel (X) Beats Q2 Views as European Segment Returns to Profitability
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Price: $18.42 -0.43%
Revenue Growth %: -11.0%
Financial Fact:
Selling, general and administrative expenses: 145M
Today's EPS Names:
ANF, DXLG, FL, More
Revenue Growth %: -11.0%
Financial Fact:
Selling, general and administrative expenses: 145M
Today's EPS Names:
ANF, DXLG, FL, More
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US Steel Corp. (NYSE: X) shares are trading over 4 percent better Tuesday, after the company reported earnings that were better than estimates.
United States Steel reported Q2 adjusted EPS of 69 cents, beating views by 22 cents. Revenue for the quarter came in at $5.02 billion versus the consensus estimate of $4.99 billion.
For the same quarter of 2011, the company reported revenue of $5.12 billion. Adjusted second-quarter EPS for 2011 was $1.12.
"We reported good operating results for the second quarter reflecting positive results from all three of our operating segments," commented CEO John P. Surm. "Our Flat-rolled and Tubular segments had solid results considering the very fragile nature of the U.S. economic recovery. U. S. Steel Europe returned to profitability with significantly improved results but continues to be challenged by the economic situation in the region."
According statements made in U.S. Steel’s earning report, tubular second quarter income from operations decreased compared to the first quarter. Shipments were approximately 7 percent lower than the first quarter as distributors rebalanced their inventory to reflect lower forecasts for drilling activity. Average realized prices of $1,706 per ton remained near first quarter levels.
US Steel sees third-quarter 2012 results for Tubular to be in line with the second quarter results with shipments to be lower as end users continue to adjust their drilling plans due to economic uncertainty and concern over energy prices. Similarly, average realized prices are projected to decline as supply has outpaced demand, mainly due to a substantial increase of imported products. Operating costs are expected to decrease compared to the second quarter due to lower substrate and facility maintenance costs.
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United States Steel reported Q2 adjusted EPS of 69 cents, beating views by 22 cents. Revenue for the quarter came in at $5.02 billion versus the consensus estimate of $4.99 billion.
For the same quarter of 2011, the company reported revenue of $5.12 billion. Adjusted second-quarter EPS for 2011 was $1.12.
"We reported good operating results for the second quarter reflecting positive results from all three of our operating segments," commented CEO John P. Surm. "Our Flat-rolled and Tubular segments had solid results considering the very fragile nature of the U.S. economic recovery. U. S. Steel Europe returned to profitability with significantly improved results but continues to be challenged by the economic situation in the region."
According statements made in U.S. Steel’s earning report, tubular second quarter income from operations decreased compared to the first quarter. Shipments were approximately 7 percent lower than the first quarter as distributors rebalanced their inventory to reflect lower forecasts for drilling activity. Average realized prices of $1,706 per ton remained near first quarter levels.
US Steel sees third-quarter 2012 results for Tubular to be in line with the second quarter results with shipments to be lower as end users continue to adjust their drilling plans due to economic uncertainty and concern over energy prices. Similarly, average realized prices are projected to decline as supply has outpaced demand, mainly due to a substantial increase of imported products. Operating costs are expected to decrease compared to the second quarter due to lower substrate and facility maintenance costs.
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