United States Steel (NYSE: X) is expected to report Q2 earnings around July 29. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict United States Steel's revenues will contract -8.8% and EPS will shrink to a loss.

The average estimate for revenue is $4.58 billion. On the bottom line, the average EPS estimate is -$0.78.

Revenue details
 Last quarter, United States Steel reported revenue of $4.60 billion. GAAP reported sales were 11% lower than the prior-year quarter's $5.17 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at -$0.35. GAAP EPS were -$0.51 for Q1 versus -$1.52 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 7.7%, 290 basis points worse than the prior-year quarter. Operating margin was 0.7%, 340 basis points worse than the prior-year quarter. Net margin was -1.6%, 260 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $18.31 billion. The average EPS estimate is -$1.46.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,955 members out of 2,108 rating the stock outperform, and 153 members rating it underperform. Among 440 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 402 give United States Steel a green thumbs-up, and 38 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on United States Steel is hold, with an average price target of $26.23.

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