What's Going On With United States Steel (X) Stock

United States Steel Corporation X shares are trading higher by 1.06% to $24.78 Friday morning after the company issued strong first-quarter guidance.

What Happened: United States Steel sees first-quarter first-quarter adjusted EPS as low as 58 cents or as high as 63 cents, which is higher than the analyst consensus estimate of 41 cents.

United States Steel also provided first quarter 2023 guidance on adjusted EBITDA of approximately $375 million.
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Among the highlights provided by the company, United States Steel says the Tubular segment is expected to deliver its tenth quarter of consecutive EBITDA increases, in large part due to healthy customer demand, a strong value added product mix and increased average selling prices in the first quarter. 

What Else: "Momentum continues to build in the North American flat-rolled market," commented U. S. Steel President and CEO David B. Burritt.

"Strong safety and operating performance, improving order entry and our continued focus on winning share in strategic markets are resulting in better than expected first quarter guidance. We expect these trends to continue into the second quarter given extending lead times and the flow-through of higher selling prices."

According to data from Benzinga Pro, X has a 52-week high of $39.25 and a 52-week low of $16.41.