United States Steel (X) reported $4.47 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 14.6%. EPS of $0.77 for the same period compares to $3.05 a year ago.
The reported revenue represents a surprise of +9.86% over the Zacks Consensus Estimate of $4.07 billion. With the consensus EPS estimate being $0.61, the EPS surprise was +26.23%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.
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:
- Steel Shipments in Tons – Tubular: 131 Mmt versus 133.86 Mmt estimated by five analysts on average.
- Average Steel Price per Ton – USSE: $909 versus $835.94 estimated by five analysts on average.
- Average Steel Price per Ton – Flat-rolled: $1,012 compared to the $975.27 average estimate based on five analysts.
- Steel Shipments in Tons – Mini Mill: 659 Mmt compared to the 671.38 Mmt average estimate based on five analysts.
- Steel Shipments in Tons – Flat Rolled: 2278 Mmt versus 2005.74 Mmt estimated by five analysts on average.
- Steel Shipments in Tons – U.S. Steel Europe: 883 Mmt versus 890.11 Mmt estimated by five analysts on average.
- Average Steel Price per Ton – Mini Mill: $794 versus the four-analyst average estimate of $715.60.
- Net sales- Mini Mill: $623 million versus $545.95 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -26.5% change.
- Net sales- Flat-rolled: $2.66 billion versus $2.29 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -11.5% change.
- Net sales- USSE: $844 million versus $770.50 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -32.8% change.
- Net sales- Tubular: $506 million compared to the $514.82 million average estimate based on five analysts. The reported number represents a change of +62.2% year over year.
- Net sales- Other Businesses: $4 million versus $5.25 million estimated by four analysts on average.
View all Key Company Metrics for U.S. Steel here>>>
Shares of U.S. Steel have returned -10.1% over the past month versus the Zacks S&P 500 composite’s +2.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
United States Steel Corporation (X) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.