US Steel Delivers Better-Than-Expected Q4 Results

United States Steel Corporation X reported better-than-expected fourth-quarter financial results after the bell Thursday. Here's a look at the highlights. 

The Details: U.S. Steel reported quarterly earnings of 67 cents per share which beat the analyst consensus estimate of 26 cents by 157.69%.

The company reported quarterly sales of $4.14 billion, beating the analyst consensus estimate of $3.76 billion by 10.17% and representing a 4.47% decrease over sales of $4.34 billion year-over-year.

U.S. Steel reported fiscal year 2023 adjusted net earnings of $1.195 million or $4.73 per diluted share.

The company’s board of directors declared a dividend of 5 cents per share payable on March 13 to stockholders of record at the close of business on Feb. 12.

"We ended the year with another quarter of strong financial and operational performance, and we did it safely, setting yet another year of record best safety performance. 2023 was a pivotal year in the history of U. S. Steel as our strategic alternatives review process culminated in the signing of a definitive merger agreement with Nippon Steel Corporation,” said CEO David B. Burritt.

“I'm grateful to our talented and hardworking team for successfully serving our stockholders and customers and continuing to execute on our strategic goals while the strategic alternatives review process was conducted. We are excited by the opportunities afforded by the Nippon Steel and U. S. Steel combination.”

X Price Action: According to Benzinga Pro, U.S. Steel shares are trading up 0.47% after-hours at $46.85 at the time of publication.

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Photo: Courtesy U.S. Steel