Compared to Estimates, U.S. Steel (X) Q1 Earnings: A Look at Key Metrics

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For the quarter ended March 2025, United States Steel (X) reported revenue of $3.73 billion, down 10.4% over the same period last year. EPS came in at -$0.39, compared to $0.82 in the year-ago quarter.

The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $3.62 billion. With the consensus EPS estimate being -$0.48, the EPS surprise was +18.75%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how U.S. Steel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Average Steel Price per Ton - Tubular: $1,729 versus the eight-analyst average estimate of $1,604.76.

  • Average Steel Price per Ton - USSE: $741 compared to the $758.01 average estimate based on eight analysts.

  • Average Steel Price per Ton - Mini Mill: $761 compared to the $820.54 average estimate based on eight analysts.

  • Steel Shipments in Tons - Mini Mill: 782 Mmt versus the eight-analyst average estimate of 689.53 Mmt.

  • Average Steel Price per Ton - Flat-rolled: $984 compared to the $963.38 average estimate based on eight analysts.

  • Steel Shipments in Tons - Flat Rolled: 1,985 Mmt compared to the 1,948.66 Mmt average estimate based on eight analysts.

  • Net Sales- Mini Mill: $675 million versus $656.25 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -4% change.

  • Net Sales- Flat-rolled: $2.24 billion compared to the $2.17 billion average estimate based on eight analysts. The reported number represents a change of -8.7% year over year.

  • Net Sales- USSE: $665 million compared to the $649.77 million average estimate based on eight analysts. The reported number represents a change of -28.1% year over year.

  • Net Sales- Tubular: $249 million versus the eight-analyst average estimate of $240.70 million. The reported number represents a year-over-year change of -9.5%.

  • Net Sales- Other Businesses: $4 million compared to the $4.79 million average estimate based on five analysts. The reported number represents a change of +100% year over year.

  • Net Sales- Reconciling Items and Eliminations: -$106 million versus the two-analyst average estimate of -$159.83 million. The reported number represents a year-over-year change of -46.5%.