SEATTLE (Scrap Monster): Pittsburgh-based leading steelmaker, United States Steel Corporation (U.S. Steel) provided guidance for its third quarter 2023 results. The company expects the adjusted net earnings per diluted share to range between $1.10 and $1.15. Also, it foresees adjusted EBITDA of approximately $550 million during the quarter.
David B. Burritt, President and Chief Executive Officer, U.S. Steel noted that the company is on track to safely deliver strong third quarter results. All of the operating segments are expected to outperform the earlier estimates and contribute to a healthy adjusted EBITDA. A resilient commercial portfolio coupled with management actions delivered significant cost benefits, he added.
The adjusted EBITDA of the Flat-Rolled segment is likely to remain broadly in line with the previous quarter. The Mini Mill segment's adjusted EBITDA is expected to be lower than Q2, with more or less EBITDA margins. The economic headwinds in the region and typical seasonal slowdowns are expected to reduce the European segment’s adjusted EBITDA. Also, U.S. Steel expects its Tubular segment’s adjusted EBITDA to be lower than the prior quarter, said the company press release.
The total liquidity for the quarter is projected to surpass $5 billion, for the seventh quarter in a row.
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