U.S. Steel sees Q1 adjusted EPS 80c-84c, consensus 89c

Sees Q1 adjusted EBITDA $425M. Commenting on first quarter guidance President and Chief Executive Officer David Burritt said, “We remain focused on running our business as we make progress towards closing our transaction with Nippon Steel Corporation. Our anticipated first quarter performance is in-line with our prior outlook, reflecting healthy steel demand, strong operating performance, and continued focus from our employees on delighting our customers. Our North American Flat-Rolled segment’s balanced and diverse markets are keeping the order book strong. Meanwhile, our Mini Mill segment continues to capture sequentially higher-priced spot orders to drive better results compared with the fourth quarter. In Europe, commercial and energy tailwinds and management cost improvements are projected to drive better EBITDA than the fourth quarter. Our Tubular segment is navigating softer first quarter demand and price headwinds while still expecting to deliver strong margins.” Burritt concluded, “We are entering the final stretch of our in-flight Best for All(R) strategic investments. Our Big River Steel dual coating line comes on-line in the second quarter followed by our new state-of-the-art Big River 2 mini mill later in 2024. We look forward to merging with Nippon Steel Corporation as the Best Steelmaker with World-leading Capabilities.”