- U.S. Steel (NYSE:X) +1.6% premarket following better than expected Q4 earnings, as well as FY 2018 guidance for $3.38/share net earnings and $1.5B EBITDA.
- Analysts say the EBITDA guidance likely fell slightly short of what bulls hoped for but the outlook likely is priced into the shares after the ~9% two-day selloff that followed AK Steel's disappointing guidance.
- KeyBanc's Philip Gibbs says X's 2018 EBITDA guidance was in-line with his and Wall Street’s estimates but earnings and guidance seem "reasonably uneventful" and net pension liability was nicely improved, offering balance for long-term investors and a welcome change from several of the prior quarters.
- Morgan Stanley (NYSE:MS)'s Piyush Sood thinks guidance a bit light vs. what buysides were positioned for but seems priced in after the recent selloff; he expects 2018 EBITDA to be on a "firmer footing" as maintenance and outage expense in flat rolled operations is expected to remain unchanged Y/Y.
- Source: Bloomberg First Word
- Now read: U.S. Steel beats by
- Now read: U.S. Steel beats by $0.09, revenue in-line
.09, revenue in-line
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