U.S. Steel (X) Posts Q2 Loss of 79c/Share

U.S. Steel (NYSE: X) reported Q2 EPS of ($0.79), $0.14 worse than the analyst estimate of ($0.65). Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $3.04 billion.

2015 Outlook

We currently expect commercial conditions to improve in the second half of 2015 from the conditions we experienced in the first half, as supply chain inventories continue to rebalance, primarily in our flat-rolled markets. Based on increasing benefits from our Carnegie Way transformation and our aggressive efforts to reduce operating costs to align them with our utilization levels, we currently expect to be within our full-year adjusted EBIT of $115 million to $315 million, or full-year adjusted earnings before interest, income taxes, depreciation and amortization (EBITDA) of $700 million to $900 million, guidance range for 2015. While we continue to find additional short term cost reductions and generate additional Carnegie Way benefits, if the current pace of commercial improvement in our markets does not increase, we would expect to be near the low end of the range. Consistent with our Carnegie Way transformation process, we are focused on converting as much of the short term cost reductions as possible into permanent improvements in our cost structure.

For earnings history and earnings-related data on U.S. Steel (X) click here.

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