U.S. Steel Provided Guidance for Q2 2024 Results

SEATTLE (Scrap Monster): Pittsburgh-based United States Steel Corporation (U.S. Steel) provided guidance for its second quarter 2024 results.

The company expects its second quarter 2024 adjusted net earnings per diluted share to range between $0.76 and $0.80. The adjusted EBITDA for the quarter is projected at approximately $425 million, the company press release noted.

The adjusted EBITDA guidance of $425 million stands at the lower end of its prior second quarter outlook.

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The Flat-Rolled segment’s adjusted EBITDA in Q2 is expected to be higher than the first quarter. The Mini Mill segment's adjusted EBITDA is expected to be lower than the first quarter. The European segment’s adjusted EBITDA too is anticipated to remain lower than the prior quarter. Also, the adjusted EBITDA of Tubular segment is likely to be lower than Q1 2024, mainly due to the negative impact of the segment’s performance on account of challenging market conditions.

The Big River Steel dual galvanized coating line came online during the quarter. Also, it plans start-up of Big River 2 during the second half of the current year.

David B. Burritt, President and Chief Executive Officer, U.S. Steel said that the company has made significant progress towards closing its transaction with Japanese steelmaker Nippon Steel Corporation.