NEW YORK - Steel companies will be hoping for a strong week as they begin to report on Tuesday.
U.S Steel is expected to report a loss of $1.11 a share. The iconic company based in Pittsburgh has fallen on rough times since the recession and is expected to report its 8th straight quarterly loss in a row. Allan Edwards the CEO of The Markets Are Open is expecting a loss of $2.32 a share which includes approximately 67 cent loss for a revaluation of European debt without the loss he expects a loss of $1.65 a share. The next lowest estimate is $1.55 a share. To see the full U.S. Steel report click here.
AK Steel will also report on Tuesday. The company is expected to lose 63 cents a share with the low estimate coming in at 71 cent loss. AK Steel has recently been struggling with liquidity. As it failed an acid test in Q3 which is a measure of short term solvency. To see the full AK Steel report click here.
Nucor which is largely regarded as the strongest steel maker financially, will report on Thursday. Estimates range from a loss of 5 cents to 11 cents. The CEO of NUE Daniel R. DiMicco said in Q3 that he expected Q4 to be the company's most difficult quarter.
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