| Steel Companies: Their Recent Financial Performance | |
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Steel Companies and 2Q15 Earnings: How Are They Managing? (Continued from Prior Part) Steel companies and their 2Q15 financial performance
The 2Q15 financial performance of most steel companies was better than analysts’ expectations. This was partially due to better-than-expected performance that steel companies managed to deliver in 2Q15. There was also a general sense of pessimism among analysts regarding prospects for the steel industry.
Highlights of 2Q15 earnings season
- Nucor’s (NUE) EBITDA (earnings before interest, taxes, depreciation, and taxes) fell more than 10% in 2Q15 compared to the previous quarter, as you can see in the above graph.
- ArcelorMittal’s (MT) group EBITDA rose ~1.5% in 2Q15. The company was able to aggressively cut down on costs in the quarter. Better-than-expected performance in Europe, which is MT’s biggest market, also contributed positively to its 2Q15 earnings.
- Steel Dynamics’ 2Q15 adjusted EBITDA fell 13.71% compared to the previous quarter.
- U.S. Steel Corporation’s (X) adjusted EBITDA plummeted more than 80% in 2Q15. The company’s earnings were negatively hit by the poor operating performance of its Tubular segment. U.S. Steel’s Tubular segment posted a massive loss of $717 per metric ton in 2Q15. Apparently, only U.S. Steel’s Europe segment managed to generate profits in 2Q15.
- AK Steel (AKS) reported adjusted EBITDA of $47.6 million in 2Q15, down more than 17% from the previous quarter. AK Steel currently forms 3.28% of the SPDR S&P Metals and Mining ETF (XME).
There are some other interesting takeaways from the steel companies’ 2Q15 earnings. We’ll take a look at these in the next part of this series.
Continue to Next Part Browse this series on Market Realist:
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United States Steel Corporation
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CODE : X |
ISIN : US9129091081 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
United States Steel est une société de production minière de fer et de étain basée aux Etats-Unis D'Amerique. United States Steel est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 6,4 milliards US$ (5,7 milliards €). La valeur de son action a atteint son plus bas niveau récent le 28 mars 2003 à 10,01 US$, et son plus haut niveau récent le 30 novembre 2007 à 98,85 US$. United States Steel possède 176 184 431 actions en circulation. |