U.S. Steel misses by $0.02, reports revs in-line; Expects Q1 adjusted EBITDA of $100-$150 mln; Company and Nippon Steel filed lawsuits in response to their proposed merger being blocked by U.S. government (36.53 -0.01)
- Reports Q4 (Dec) loss of $0.13 per share, excluding non-recurring items, $0.02 worse than the FactSet Consensus of ($0.11); revenues fell 15.3% year/year to $3.51 bln vs the $3.54 bln FactSet Consensus.
- Adjusted EBITDA of $190 million.
- 1Q25 Outlook: "We expect first quarter adjusted EBITDA in the range of $100 million and $150 million. Our North American Flat-Rolled segment results are expected to decrease, primarily driven by seasonal logistics constraints in the mining sector, which will unwind in the second quarter. We expect this to be partially offset by resiliency in our commercial strategy. We expect an improvement in Mini Mill segment results reflecting the increase in shipments from BR2, even after accounting for approximately $50 million of ramp-up costs. In Europe, we expect results to slightly improve but still face pressures from challenging pricing and demand conditions. Our Tubular segment results should be largely consistent with the fourth quarter."