United States Steel Earnings: Here’s Why Shares are Down Now

United States Steel Corp. (NYSE:X) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.11%.

United States Steel Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.35 in the quarter versus EPS of $0.69 in the year-earlier quarter.

Revenue: Decreased 11.72% to $4.43 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: United States Steel Corp. reported adjusted EPS loss of $0.35 per share. By that measure, the company beat the mean analyst estimate of $-0.79. It missed the average revenue estimate of $4.61 billion.

Quoting Management: U.S. Steel Chairman and CEO John P. Surma said, “Total reportable segment and Other Businesses operating results of $47 million reflect the effects of the ongoing lockout at our Lake Erie Works and a deceleration in global economic growth during the quarter. Our plants operated well even with increased repairs and maintenance costs.”

Key Stats (on next page)…

Revenue decreased 3.61% from $4.6 billion in the previous quarter. EPS were the same at $-0.35 in the quarter as EPS of $-0.35 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.37 to a loss $0.20. For the current year, the average estimate has moved down from a profit of $0.81 to a loss of $1.20 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)