United States Steel Corporation (US Steel) announced its earnings guidance for the first quarter of 2024, expecting adjusted net earnings per diluted share to range between US$0.80 and US$0.84. The adjusted EBITDA for the same period is forecasted to be around US$425 million.

According to the statement from US Steel’s President and CEO, the first-quarter performance remained consistent with expectations, driven by strong steel demand and operational excellence. Despite challenges in some segments, the overall outlook remained positive.

The flat-rolled segment anticipated higher adjusted EBITDA compared to the previous quarter, driven by increased spot steel prices and favorable contract terms negotiated for 2024. Meanwhile, the mini mill segment was poised to nearly double its fourth-quarter performance, benefiting from higher selling prices despite increased raw material costs.