U.S. Steel projects it will bring in adjusted earnings before
interest, taxes, depreciation and amortization, or EBITDA, of $425 million in
the second quarter, cautioning that lower steel prices will dampen its
financial performance in most of its segments.
“We continue to run our business safely as we make progress towards
closing our transaction with Nippon Steel Corporation," U.S. Steel
President and CEO David Burritt said in a news release announcing the
company's second quarter projections. "Adjusted EBITDA guidance of $425
million is at the lower end of our prior second quarter outlook and reflects
stable domestic flat-rolled steel end-use demand despite a dynamic spot steel
pricing environment. In Europe, we recently restarted our temporarily idled blast
furnace in response to improving customer demand. As expected, challenging
market conditions are negatively impacting the tubular segment’s performance.”