US Steel Stock Steady Ahead Of Q4 Earnings As Investors Watch For Acquisition Updates: Retail Sentiment Divided
After the U.S. government blocked a $14 billion bid by Japan-based Nippon Steel, media reports suggested that Cleveland-Cliffs Inc. and Nucor Corp. could be interested in a joint bid to acquire U.S. Steel.
FollowShares of U.S. Steel Corp. (X) held steady with gains of nearly 0.5% in morning trade on Thursday as investors keep their eyes peeled ahead of the company’s fourth-quarter results scheduled for after-market hours.
After the U.S. government blocked a $14 billion bid by Japan-based Nippon Steel, media reports suggested that Cleveland-Cliffs Inc. (CLF) and Nucor Corp. (NUE) could be interested in a joint bid to acquire U.S. Steel.
While U.S. Steel investors are carefully watching progress on that front, the Pittsburgh-based manufacturing icon is gearing up to announce its fourth-quarter results later in the day.
According to Stocktwits data, U.S. Steel is expected to post an adjusted loss per share (EPS) of $0.11, compared to an EPS of $0.28 during the same period last year.
The steel manufacturer’s revenue is estimated at $3.54 billion in the fourth quarter, down from $3.73 billion during the same period last year.
Stocktwits data shows U.S. Steel has missed revenue estimates in the last one out of four quarters, but it beat EPS estimates in all of the past four quarters.
Ahead of its earnings, U.S. Steel lowered the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance to $150 million from its previous outlook of $225 million to $275 million due to steel prices being under pressure and demand and price weakness in Europe.
Retail sentiment on Stocktwits around the U.S. Steel stock was divided, hovering in the ‘neutral’ (50/100) territory.
X sentiment and message volume January 30, 2025, as of 11:30 am ET | Source: Stocktwits
One user questioned the merits of holding the U.S. Steel stock at current levels when Nippon Steel’s $55 per share offer was blocked.
U.S. Steel’s stock price has been under pressure, declining nearly 9% over the past six months and losing nearly a quarter of its value over the past year.
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