United States Steel Corp.

NYSE:X   1:08:54 PM EDT
+0.80 (+2.91%)
Debt Financing / Related, Other Pre-Announcement

United States Steel Sees Q3 2020 Adjusted Loss Per Share About $1.45

Published: 09/18/2020 13:15 GMT
United States Steel Corp. (X) - Oration Provides Third Quarter 2020 Guidance.
Sees Q3 2020 Adjusted Loss per Share About $1.45.
Q3 2020 Adjusted EBITDA is Expected to Be Approximately $100 Million Loss.
Improving Market Conditions Experienced in June and July Have Accelerated Through August and September.
Have Grown Confident in Recovery That is Underway in North America and Europe.
By End of Quarter, Plan to Repay Approximately $900 Million of U.S. Abl.
Expect Flat-rolled Segment Results to Be Negative in Q3.
Responded to Improving Order Book by Restarting Three Blast Furnaces That Were Temporarily Idled Earlier This Year.
Expect Two Blast Furnaces to Remain Temporarily Idled Through Year-end.
In Europe, Pace of Market Improvement Has Also Exceeded Expectations.
In Tubular, Market Conditions Appear to Have Bottomed, But Catalysts for Improvement Are Limited.
Q3 Earnings per Share View $-1.53 -- Refinitiv Ibes Data (analyst estimates).