Pittsburgh Steelmaker Earnings to Hit All-Time Peak in Q1 This Year
Steel News | 2022-03-18 13:17:59
The adjusted EBITDA of Flat-Rolled segment is feared to be impacted by approximately $150 million, mainly on account of seasonal mining headwinds and increased raw material costs.
By Paul Ploumis
SEATTLE (Scrap Monster): Pittsburgh-based United States Steel Corporation (U.S. Steel) provided guidance for first quarter 2022.
The company expects adjusted EBITDA to total approximately $1.3 billion, which will a new all-time record for the first quarter. Also, it expects Q1 2022 adjusted diluted earnings per share to range between $2.96 and $3.00.
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The adjusted EBITDA of Flat-Rolled segment is feared to be impacted by approximately $150 million, mainly on account of seasonal mining headwinds and increased raw material costs. The Mini Mill segment is expected to deliver adjusted EBITDA margins similar to 2021 levels. The European segment’s adjusted EBITDA is expected to be the third best quarterly adjusted EBITDA, benefited by the restart of third blast furnace in February following a 60-day planned outage. Meantime, the Tubular segment’s adjusted EBITDA is expected to double from that of Q4 2021.
David B. Burritt, President and CEO, U.S. Steel said that the company expects to deliver another strong quarter of safety, adjusted EBITDA, free cash flow, and operational performance in the first quarter. The improving market conditions are expected to continue into the second quarter, he added.
