United States Steel Corporation (X) announced upbeat guidance for the second quarter of FY21. However, shares of the giant steel producer plunged 7.7% to close at $23.82 on June 17, due to China’s announcement that it would release metals like copper, aluminum, and zinc from its national reserves to curtail commodity prices. Q2 FY21 Guidance U.S. Steel said it expects Q2 adjusted EBITDA to be $1.2 billion, and adjusted net income (excluding restructuring and asset impairment charges) to be $880 million. Adjusted earnings are expected to be $3.08 per share. (See U.S.
https://www.tipranks.com/news/u-s-steel-provides-upbeat-q2-guidance-shares-plunge-on-worries-of-increased-metal-supply
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