The company says it expects Q3 earnings of $525M, lower than the $583M consensus, and the lackluster outlook will "underwhelm the market,” said analysts at Morgan Stanley, who were expecting $577M.
“Given the amount of cash coming from this company right now, I think people are getting a little impatient,” Seth Rosenfeld, a managing director at Jefferies in London, told Bloomberg. “If you think the macro economic outlook is untenable and you think demand could suffer because of these trade policies, you’re a lot less patient.”
Even as Trump administration tariffs have helped spark a 40% surge in domestic steel prices, U.S. Steel shares have lost ground while most rival producers have gained.
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