Will the emphasis be on better EPS or EBITDA.The company had guided EBITDA in a range of $750 to $800 but analyst estimates were $792.8.
Steel stocks are trading at about 4 time P/E with very strong balance sheet.they are return $$$
via good dividends and share buyback.
Staying long Stelco.They should have close $900 to 1 billion in cash at the end of
Q2.It will be interesting to see how they intend to deploy some of that cash.
US Steel projects Q2 profit above expectations on higher prices.
June 19 (Reuters) - United States Steel Corp on Monday forecast second quarter adjusted profit above market expectations, benefiting from higher prices as well as steady demand for its products.
U.S. Steel has been raising the prices on its products to offset impact from higher costs such as those related to raw materials and energy. It has also seen a strong end-user demand in its flat-rolled and tubular segments.
The company said it expects second quarter adjusted profit between $1.81 and $1.86 per share, mid-point of which is above average analysts' expectation of $1.76, according to Refinitiv IBES data.
U.S. Steel also said it expects to complete about $75 million of repurchases of common stock in the second quarter under its existing $500 million stock buyback authorization.
However, it forecast second quarter adjusted EBITDA - a key profitability measure - of $775 million, compared to estimates of about $792.8 million, per five analysts polled by Refinitiv.