United States Steel Corporation Announced Q1 2024 Guidance

SEATTLE (Scrap Monster): Pittsburgh-based United States Steel Corporation (U.S. Steel) provided guidance for its Q1 2024 results. The company expects adjusted net earnings during the quarter to range between $0.80 and $0.84 per diluted share. The adjusted EBITDA is projected at around $425 million, the company press release said.

The adjusted EBITDA of the flat-rolled segment is expected to be higher than the prior quarter. The Mini Mill segment’s adjusted EBITDA is predicted to witness two-fold surge over the previous quarter. The European segment’s adjusted EBITDA is anticipated to be higher than Q4 2023, while the adjusted EBITDA of Tubular segment is expected to register decline when compared with the prior quarter.

Commenting on the guidance, David B. Burritt, President and Chief Executive Officer, U.S. Steel observed that the anticipated first quarter performance is in line with the company’s previous outlook.

Burritt noted that the dual coating line at Big River Steel is expected to come online in Q2 2024, followed by the new state-of-the-art Big River 2 mini mill later during the year. U.S. Steel continues to remain focused on running its business as it makes progress towards closing its transaction with Japanese Nippon Steel Corporation.

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