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Steel News September 17, 2021 09:30:31 PM

U.S. Steel Flat-Rolled Segment to Post Record EBITDA in Q3

Paul Ploumis
ScrapMonster Author
The Tubular segment too is expected to continue its upward trajectory.

U.S. Steel Flat-Rolled Segment to Post Record EBITDA in Q3

SEATTLE (Scrap Monster): Pittsburgh-based United States Steel (US Steel) Corporation provided guidance for third quarter 2021, along with an update on deleveraging activity for the year.

The company expects the third quarter 2021 adjusted EBITDA to be approximately $2.0 billion, when compared to second quarter 2021 adjusted EBITDA of around $1.3 billion, said the press release.

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The Flat-rolled steel segment is expected to deliver record EBITDA and EBITDA margin in the third quarter, mainly driven by higher steel selling prices and continued robust customer demand. The Mini Mill segment Q3 EBITDA and EBITDA margin are expected to surpass prior quarter’s records. The European segment is also expected to deliver record EBITDA and EBITDA margin during the quarter.  The strong demand and higher steel prices will partially offset higher raw material costs. The Tubular segment too is expected to continue its upward trajectory.

During the current year, U.S. Steel has reduced its debt by approximately $2.7 billion. This is excluding the impact of the debt assumed in connection with the Big River Steel acquisition. The deleveraging actions so far this year have cut the annual run-rate interest expense by around $185 million.

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