© Reuters. US Steel (X) Shares Up 4% on Q2 Record Guide, Quick Buyback
Shares of United States Steel Corporation (NYSE:) rose about 4% after-hours on Thursday following the company’s 2/22 quarter guidance, with adjusted EBITDA expected to be around $1.6 billion , representing the best Q2 results of all time. Adjusted EPS is expected to be between $3.83 and $3.88, against the consensus of $3.20.
According to David B. Burritt, President and CEO of US Steel, the company expects to continue to deliver record performance in the second quarter, with each business segment making a meaningful contribution to profits.
“We expect to continue to deliver record performance in the second quarter, with each business segment meaningfully contributing to profitability,” said US Steel President and CEO David B. Burritt commented. diverse customer base, including in the resurgent energy market. Our focus on strategic end markets and our continued substantial increase in fixed-price contracts are once again expected to result in another record-breaking performance quarter. ”
The company added that with pre-funded strategic projects and current cash flow approaching $3 billion, it accelerated its share buybacks in the second quarter.
By David Kirakosyan
