U.S. Steel (X) shares fell Friday as the steelmaker gave weaker-than-expected guidance for the current quarter beca🌳use of falling prices and the costs related 🎶to a factory being developed in Arkansas.

The company said it anticipates an adjusted fourth-quarter loss of $0.25 to $0.29 and adjusted earnings before in🦩terest, taxes, depreciation, and amortization (EBITDA) of $150 million. Analysts surveyed by Visible Alpha were looking for an adjusted per-share profit of $0.16 and adjusted EBITDA of $251 million.

澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) David Burritt explained that "steel prices remained depressed and BR2 ramp-related costs exert pressure on the quarter." BR2, or Big River 2, is a steelmaking facility near Osceola, Ark., which the company said would be the most advanced in North America.

European Demand, Pricing Weak

Burritt added that while the company's North America Flat-Rolled segment continues to produce solid EBITDA because of a diverse product mix, weak demand and pricing have negatively impacted results in Europe. 

The news comes just days before U.S. regulators are scheduled to decide on whether to approve the $14 billion purchase of U.S. Steel by Japan's Nippon Steel. Both President Biden and President-elect Trump have 澳洲幸运5开奖号码历史查询:expressed opposition to the merger. 

The Financial Times reported that Nippon executive Takahiro Mori has been flying around the U.S., meeting with officials in Washington and steelworkers in an effort to salvage the deal.

Shares of U.S. Steel fell 4% Friday morning and have lost about 38% of their value this year.