Stock Monitor: India Globalization Capital Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 08, 2017 / Active-Investors free earnings report on United States Steel Corp. (NYSE: X) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=X. The Company posted its financial results on October 31, 2017, for the third quarter fiscal 2017. The steel maker's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is currently working on the research report for India Globalization Capital, Inc. (NYSE AMER: IGC), which also belongs to the Basic Materials sector as the Company United States Steel. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, United States Steel most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

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Earnings Highlights and Summary

For three months ended September 30, 2017, United States Steel's revenues increased 20.9% to $3.25 billion from $2.69 billion in Q3 FY16. The Company's revenue surpassed analysts' expectations of $3.04 billion.

During Q3 FY17, United States Steel's total shipments were 3.80 million net tons compared to 3.74 million net tons in the same period last year.

For the reported quarter, the Company's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 40.7% to $363 million from $258 million in Q3 FY16. For the reported quarter, the Company's adjusted EBITDA increased 25.7% to $342 million from $272 million in Q3 FY16. For the reported quarter, the Company's adjusted EBITDA margin increased 40 basis points to 10.5% of revenue from 10.1% of revenue in the third quarter of 2016.

During Q3 FY17, United States Steel's EBIT increased 85.6% to $245.0 million from $132.0 million in the same period last year. During Q3 FY17, the Company's EBIT margin increased 260 basis points to 7.5% of revenue from 4.9% of revenue in the same period last year.

For the reported quarter, United States Steel's net income increased 188.2% to $147 million on a y-o-y basis from $51 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 159.4% to $0.83 on a y-o-y basis from $0.32 in the same period last year. For the reported quarter, United States Steel's adjusted net income increased 147.7% to $161 million on a y-o-y basis from $65 million in Q3 FY16. For the reported quarter, the Company's adjusted diluted EPS increased 130% to $0.92 on a y-o-y basis from $0.40 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.67.

United States Steel's Segment Details

Flat-rolled products - During Q3 FY17, the flat-rolled products segment's net revenue increased 15.4% to $2.29 billion from $1.99 billion in the same period last year. For the reported quarter, the segment's EBIT increased 40.4% to $160 million from $114 million in the third quarter of 2016. For the reported quarter, the segment's total shipments were 2.54 million net tons, almost on par with 2.54 million net tons in Q3 FY16.

US Steel Europe - During Q3 FY17, the US Steel Europe segment's net revenue increased 23.4% to $711 million from $576 million in the same period last year. For the reported quarter, the segment's EBIT decreased 9.9% to $73 million from $81 million in the third quarter of 2016. For the reported quarter, the segment's total shipments were 1.07 million net tons compared to 1.11 million net tons in Q3 FY16.

Tubular products - During Q3 FY17, the Tubular products segment's net revenue increased 142.1% to $276 million from $114 million in the same period last year. For the reported quarter, the segment's EBIT was negative $7 million compared to negative $75 million in the third quarter of 2016. For the reported quarter, the segment's total shipments were 185,000 net tons compared to 103,000 net tons in Q3 FY16.

Other Businesses - During Q3 FY17, the Company's Other Businesses segment's net revenue increased 10.5% to $42 million from $38 million in the same period last year. For the reported quarter, the segment's EBIT decreased 33.3% to $12 million from $18 million in the third quarter of 2016.

Balance Sheet

As on September 30, 2017, United States Steel's cash and cash equivalents increased 11.8% to $1.69 billion from $1.52 billion on December 31, 2016. For the reported quarter, the Company's net long-term debt decreased 2.9% to $2.90 billion from $2.98 billion in Q4 FY16.

For the reported quarter, the Company's net receivables increased 22.4% to $1.53 billion from $1.25 billion in Q4 FY16. During Q3 FY17, the Company's accounts payable and other accrued liabilities increased 25.7% to $2.10 billion from $1.67 billion in the fourth quarter of 2016.

In the first nine months of 2017, the Company's cash provided by operating activities decreased 6.7% to $541 million from $580 million in the same period last year.

Outlook

For FY17, United States Steel expects net income to be $323 million and diluted EPS to be $1.83. The Company estimates adjusted net income to be $300 million and adjusted diluted EPS to be $1.70 for fiscal 2017.

Stock Performance Snapshot

December 07, 2017 - At Thursday's closing bell, United States Steel's stock rose 2.38%, ending the trading session at $31.85.

Volume traded for the day: 13.21 million shares, which was above the 3-month average volume of 11.28 million shares.

Stock performance in the last month ? up 18.18%; previous three-month period ? up 18.14%; and past six-month period ? up 45.97%

After yesterday's close, United States Steel's market cap was at $5.57 billion.

Price to Earnings (P/E) ratio was at 47.12.

The stock has a dividend yield of 0.63%.

The stock is part of the Basic Materials sector, categorized under the Steel & Iron industry. This sector was up 0.2% at the end of the session.

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