U.S. Steel Shares Plummet After 1Q Earnings Release; Our Negative Outlook Is Largely Unchanged
U.S. Steel shares moved sharply lower after the company's first-quarter earnings release. Management actually raised its full-year adjusted EBITDA guidance to $1.7 billion-$1.8 billion from $1.5 billion. However, investors were hoping that the company would be better able to take advantage of a rising steel price environment. Additionally, operational headwinds remain in focus, as U.S. Steel's costly asset revitalization program continues to play out and an issue at the Great Lakes Works product...United States Steel is a steel producer of flat-rolled and tubular products with production operations in the United States and Europe. The company is also engaged in railroad services and real estate operations. The company's segments are: North American Flat-Rolled, which produces slabs, strip mill plates, sheets and tin mill products; U. S. Steel Europe, which produces and sells slabs, strip mill plate, sheet, tin mill products and spiral welded pipe, as well as heating radiators and refractory ceramic materials; and Tubular Products, which produces and sells electric resistance welded steel casing and tubing (known as oil country tubular goods), and standard and line pipe and mechanical tubing.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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